EcoVadis in 2024: what you need to know

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

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

In this article, we present : 

• EcoVadis methodology
• The EcoVadis rating process
• EcoVadis developments in 2024

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EcoVadis methodology

The EcoVadis assessment can be carried out for each entity or for an entire group.

The methodology assesses an organization's CSR practices on the basis of four main pillars - environment, social and human rights, ethics and responsible purchasing (the supply chain) - 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 CSR commitments you have made and the quantitative targets you have set, for example, 
• Measurements: the impact of CSR actions and initiatives implemented to achieve set objectives.
• Results: monitor the results and impact of your CSR actions and initiatives.

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EcoVadis assessment process in 2024

We share with you the 5 steps for submitting the EcoVadis questionnaire:

• Step 1: Register, create your profile on the EcoVadis website and fill in the details of your organization.
• Step 2: Complete your personalized questionnaire. Each question you answer must be justified.
• Step 3: Once your questionnaire has been submitted, EcoVadis analysts will carefully examine your answers and the evidence provided (6 to 8 weeks).
• Step 4: Once the analysis is complete, you'll receive your EcoVadis evaluation sheet, detailing your strengths and weaknesses on each of the pillars.
• Step 5: Next, EcoVadis awards medals or badges based on your performance. These are proof of your CSR performance and can be used to communicate with external stakeholders.

Do you need help? Beavr helps companies structure their CSR approach and improve their CSR performance to maximize their EcoVadis score. Define best practices to be more sustainable. Contact our experts!

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EcoVadis developments in 2024

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

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

For further details, please consult the EcoVadis Sustain annual conferences.

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EcoVadis 2024 scores 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 far-reaching changes in the way the medals are awarded - here's a summary. This provides a more realistic picture of a company's environmental, social, ethical and responsible purchasing impact.

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 - 1% of top-rated companies (similar to 2023, without the static threshold of 78/100)
• EcoVadis Gold - 1% of top-rated companies (as in 2023, without the static 70/100 threshold)
• EcoVadis Silver - 15% of top-rated companies versus 25% in 2023
• EcoVadis Bronze - 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 don't improve, you'll probably be demoted to no medal or an "Engaged" badge in 2024.

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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 score over the last 18 months.

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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.

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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

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What opportunities does the EcoVadis questionnaire offer companies?

Organizations that submit to EcoVadis 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.