EcoVadis in 2024: what you need to know

EcoVadis is one of the leading platforms for 360° assessment of organizations' CSR management systems, based on the most renowned frameworks and standards such as ISO 26000 and the International Labor Organization.

Used by more than 65,000 organizations worldwide, its evaluation system enables leading companies such as L'Oréal, Amazon and Schneider Electric to assess their suppliers and partners on sustainability criteria, compare their performance and select the best on an objective basis.

‍

EcoVadis methodology

The EcoVadis methodology assesses an organization's CSR performance on the basis of four main pillars - environment, social and human rights, ethics and responsible purchasing - which are in turn divided into 21 sub-themes: key sustainability issues.

The 21 key sustainability issues are not all relevant to all organizations. They will be activated - or not - depending on :

• company size,
• the company's business sector,
• country(ies) of activity.

For each key sustainability issue, EcoVadis assesses whether you have a robust management system in place, with the three main elements examined being:

• Policies: the commitments you have made and the quantitative targets you have set
• Measures: the actions and initiatives implemented to achieve the set objectives
• Results: track the results and impact of your actions and initiatives

‍

EcoVadis assessment process

The EcoVadis assessment process comprises 5 key stages:

Step 1: Registration

Create your profile on the EcoVadis website and fill in the details of your organization. This will lead to the creation of a customized questionnaire tailored to your size, business sector and country of operation.

Step 2: Questionnaire

Complete your personalized questionnaire by answering EcoVadis questions on your policies, actions and results for each key sustainability issue.

Every question you answer must be justified, and it is essential to identify and submit the appropriate supporting documents to ensure a proper assessment of your CSR strategy and actions.

Step 3: Expert analysis

Once your questionnaire has been submitted, EcoVadis analysts will carefully examine your answers and the evidence provided. Depending on the time of year, this stage can take from 6 to 8 weeks.

Step 4: Results

Once the analysis is complete, you will receive your EcoVadis evaluation sheet, which will provide you with an overall score rewarding your CSR performance, as well as thematic scores detailing your strengths and weaknesses in each of the 4 main pillars assessed.

Your EcoVadis scorecard will also include a detailed analysis of your performance by dimension for each score, highlighting areas of your CSR management system where you can make further progress.

Step 5: EcoVadis medals and badges

At the end of the assessment, EcoVadis awards medals or badges based on the organization's relative performance compared to other organizations assessed over the past 12 months. These badges and medals are tokens of an organization's CSR performance and progress, and can be used to communicate with external stakeholders.

‍
Need help? Beavr helps companies structure their CSR approach and improve their CSR performance to maximize their EcoVadis score. Contact our experts!

‍

EcoVadis: What's new in 2024?

EcoVadis has introduced significant changes in 3 areas, effective January 1, 2024:

• Scoring & medals,
• 360° watch,
• Technical improvements.

‍

EcoVadis ratings and medals

EcoVadis is committed to continually reviewing its rating and award methodology in order to :

• maintain alignment with regulations and consistency with developments in the role of CSR and sustainability in business,
• maintain its high standards and protect its methodology against increasing cases of greenwashing.

This has led to profound changes in the way medals are awarded - here's a summary.

Medals are now awarded solely on the basis of percentile thresholds.

There are no longer static thresholds associated with each medal level. A company's percentile is calculated when the scorecard is published, and compares its performance to that of all EcoVadis customers in their database rated over the previous 12 months.

Minimum thresholds at January 1, 2024

• EcoVadis Platinum Medal - 1% of top-rated companies (similar to 2023, without the static threshold of 78/100)
• EcoVadis Gold Medal - 1% of top-rated companies (as in 2023, without the static 70/100 threshold)
• EcoVadis Silver Medal - 15% of top-rated companies compared with 25% in 2023
• EcoVadis Bronze Medal - top-rated companies (35%) versus top-rated 50% in 2023

Implications:

• If you had a score of 60/100 and a silver medal in 2023 and don't improve, you'll probably be demoted to bronze in 2024.
• If you had a score of 53/100 and a bronze medal in 2023 and you don't improve, you will probably be demoted to no medal or an "Engaged" badge in 2024.

‍

Introducing badges

EcoVadis has announced the introduction of 2 new badges to its program

• The Committed Badge recognizes companies that have demonstrated their commitment to sustainable development with a score of 45 or more.
• The Fast Mover Badge rewards companies with a score between 34 and 44 that have demonstrated a remarkable improvement of more than 6 points on their previous assessment over the last 18 months.

‍

360 watch

EcoVadis 360 Watch uses advanced artificial intelligence to analyze official statements, court rulings and factual declarations from the recognized press or organizations adhering to scientific standards to identify positive and negative news related to an organization's sustainability activities.

Since January 2024, and in order to ensure that the findings of the 360° Watch are tailored to the size of customers and the complexity of operations, Large Companies are no longer ineligible on the basis of minor findings.

‍

Technical improvements

At the end of 2023 and beginning of 2024, EcoVadis introduced a number of technical improvements to enhance the user experience of the companies evaluated.

These improvements include :

• Download the questionnaire as an Excel spreadsheet to work on it offline
• The ability to automatically and autonomously extend the questionnaire deadline
• Visibility into the validity of 360 Watch results
• Improving the design of medals to enable authentication
• Alignment with other frameworks and frames of reference, particularly regulatory ones

‍

What are the opportunities for companies undergoing EcoVadis assessment?

Organizations that undergo EcoVadis assessment benefit from a number of advantages. These include

• A complete diagnostic: EcoVadis is a comprehensive diagnostic tool that identifies your strengths and areas for improvement.
• Benchmarking: EcoVadis lets you compare your CSR performance with that of your peers.
• Attractiveness: More than ever, the most successful organizations stand out from their competitors.
• Structure: The EcoVadis methodology is a framework that provides a solid foundation and ideas/suggestions for structuring your CSR approach or strategy.