Companies have increasing expectations of their CSR commitments, and EcoVadis provides them with a solid framework for structuring a robustsustainability management system.

In this article, we'll be focusing on the EcoVadis Gold Medal, a fine distinction awarded by EcoVadis to validate a company's commitments in the following areas: Environmental, Social, Ethical and Human Rights, and Responsible Purchasing.

Although this medal is not an end in itself, it does provide concrete proof of all the efforts made by companies to be more sustainable. 

Find out what the EcoVadis Gold Medal is, what it really means for companies, and our practical advice on how to earn it and move on to the EcoVadis Platinum Medal.

‍

What is the EcoVadis Gold Medal?

Understanding the EcoVadis Gold Medal

The EcoVadis Gold Medal is awarded to companies that have demonstrated a consistent commitment to sustainability!

It indicates that the company is among the best in terms of performance on the themes assessed by EcoVadis: Environmental, Social, Ethical and Responsible Purchasing.

The EcoVadis Gold medal is second on the podium after the Platinum medal. Then we have the Silver and Bronze medals.

In 2024, it will be awarded to the top 5% of companies evaluated!

To obtain it, the company must have solid policies and actions on its sustainability issues, going beyond mere regulatory requirements. 

This medal should not be seen as an end in itself. The most important thing is to make a commitment to continuous improvement.

Find out more about the EcoVadis medal system in our article.

‍

What winning the EcoVadis Gold Medal really means

Winning an EcoVadis medal goes far beyond mere recognition: it validates a complete sustainability management system covering environmental, social, ethical and responsible purchasing issues. 

This means that the company is making concrete commitments on the majority of its sustainability issues, but still has some way to go to achieve the EcoVadis Platinum medal.

Indeed, some sustainability issues may lack maturity in the evidence. To remedy this, it's important to spend time setting the right quantitative targets on all material issues, implementing new actions and keeping a close eye on key KPIs.

For example, a company awarded the EcoVadis Gold Medal may not have a target for biodiversity, even though this is a material issue, whereas a company awarded the Platinum Medal will define targets for all its sustainability issues.

‍

How to earn an EcoVadis Gold Medal

Earning an EcoVadis Gold Medal is an ambitious goal for any company wishing to demonstrate its commitment to sustainability.

Our Beavr experts are often confronted with companies that implement good CSR practices without structuring them. The EcoVadis questionnaire will help you define this structure!

In this section, our Beavr experts share 7 practical tips for a successful EcoVadis assessment.

Define logical, ambitious and quantitative targets for all KSIs

Your objectives should be clear, measurable, ambitious but achievable, and cover all the important aspects of your business. 

For example, a good objective for a technology company might be to aim to reduce its energy consumption by 20% in three years by optimizing the energy efficiency of its data centers.

Implement and monitor positive-impact projects for all sustainability issues

We advise you to take the time to identify your internal projects and procedures which have a positive impact on all the Key Sustainability Issues activated by Ecovadis, and for which you have set quantitative targets for continuous improvement. We then need to ensure that you have documentary evidence of the existence of this project or procedure within the company. 

You will then monitor their relevance and impact through performance KPIs.

‍

For example, a manufacturing company has launched a project to reduce waste by reusing production materials. The company has formalized an internal procedure explaining the reuse process. To understand its positive impact, it will track the amount of waste reduced over the year, thanks to this new internal process.

‍

Track performance KPIs for all KSIs

Key performance indicators (KPIs) need to be tracked to understand the performance of your actions, and to monitor the achievement of your improvement targets.

A food company can track KPIs such as CO2 emissions reduction, water use and packaging recycling rates.

‍

Prioritize transparency and internal and external communication

Transparency about sustainability objectives, actions and results is essential. Regular communication with employees, customers and partners keeps them informed and engaged. 

For example, a consumer products company might publish an annual sustainability report detailing its goals, progress and challenges.

‍

Actively involve management

Management must be fully committed to sustainability initiatives. Their support is crucial to mobilizing the necessary resources and inspiring the whole organization. 

EcoVadis encourages companies to invite executives to take part in sustainability initiatives, to give speeches at internal events and, ESPECIALLY, to integrate sustainability objectives into corporate strategies.

‍

Working with suppliers

Working closely with suppliers to improve their sustainable practices is important. Companies need to encourage their value chain to adopt high standards and help them achieve these goals. 

For example, a textile company wants to ensure that its partner factories comply with international labor standards. To support them, it can organize training courses on diversity or forced labor for its key suppliers.

‍

Demonstrating sustainable innovation

The constant search for innovation in sustainable practices is necessary. Adopting new technologies and exploring innovative methods to reduce environmental impact and improve societal impact are recommended actions. 

For example, a construction company may adopt green building techniques, such as using recycled materials and implementing renewable energy systems in its buildings.

‍

All these improvements in CSR governance can help you improve your score and obtain the EcoVadis Gold medal, but more than that, they are ways of anchoring your company in a serious and structured CSR approach.

‍

Upgrade from EcoVadis Gold to Platinum medal

Going from EcoVadis Gold to Platinum is a real challenge! 

Only 1% of companies assessed in the last 12 months manage to earn the EcoVadis Platinum medal.

It's proof of an ambitious sustainability management system and of our determination to constantly strive to improve our social, environmental, ethical and responsible purchasing practices. 

Our experts have a few tips to help you get through this stage!

‍

Identify areas for improvement and weakest KSIs

To move from EcoVadis Gold to Platinum, it's important to carry out an in-depth diagnosis of your sustainability practices and identify areas for improvement.

We advise you to assess your key sustainability indicators (KSI) to determine which are the lowest rated and require special attention. 

When you receive your evaluation result, EcoVadis shares a wealth of tips and information to help you improve. We strongly recommend that you follow the instructions provided on their site.

Cover all KSI

Full coverage of all KSIs is essential to achieve Platinum status. Companies need to make sure they leave no stone unturned when it comes to sustainability! 

This includes ambitious, measurable targets for the environment, social responsibility, ethics and responsible purchasing. 

If you're a food company, you can not only calculate and reduce your carbon emissions, you also have an impact on water use, for example. 

You can't omit sustainability issues on which you have an impact, otherwise your extra-financial risks, impacts and opportunities management system will be incomplete. This is what EcoVadis underlines in its assessment.

Memberships and certifications

CSR memberships and certifications can help reinforce the credibility of your commitment. You can choose internationally recognized standards and certifications, such as ISO 14001 for environmental management or SA8000 for social responsibility, for example. 

Take the case of a textile company: obtaining Global Organic Textile Standard (GOTS) certification to guarantee products made from organic materials and fair working conditions is a positive point for its EcoVadis assessment.

‍

By following these recommendations, you'll be taking your CSR commitment even further, which will surely earn you the EcoVadis Platinum medal.

‍

Conclusion

Well done to all the companies that succeed in obtaining the EcoVadis Gold Medal. This is one of EcoVadis' highest distinctions, ahead of the EcoVadis Platinum medal. 

More than just a medal, the award underlines the efforts and commitments made by the company to be more sustainable and limit its negative impacts on the Environment, Society, Ethics and Responsible Purchasing.

Winning this medal does not mark the end of the road, but rather a new step forward in terms of sustainability.

Our practical tips shared in this article can help you build a good sustainability management system and potentially get a good EcoVadis score and a medal. 

After the EcoVadis Gold Medal, you can aim higher and try to increase your score to earn the Platinum Medal. Find out more about the EcoVadis Platinum Medal in our article.