What is EcoVadis Scorecard? Why you should only Partner with an EcoVadis rated Premiums Supplier?

Many Multi-National Corporations (MNCs) have policy that they prefer to work with partners who are EcoVadis rated; there are even some MNCs that specify that only suppliers with a certain EcoVadis scorecard can be considered to be their globally appointed suppliers or business partners.

So, what is EcoVadis?

EcoVadis is a system for evaluating companies’ sustainability practices based on the companies’ performances in 4 key areas:

1. Environment

2. Labour and Human Rights

3. Ethics

4. Sustainable Procurement

An audit will be conducted by the EcoVadis audit team on the companies annually, whereby scorecards are awarded to each audited company, detailing how it has fared in their business sustainability practices.

One highlight of this EcoVadis scorecard is that it indicates a company’s sustainability performance in comparison with all other companies as well. This has enabled convenient benchmarking of the audited companies.

How to read the EcoVadis scorecards?

The overall score (0-100) of the EcoVadis report indicates the quality of the organisation’s sustainability management system.

The latest criteria and recognition levels are as shown below:

Overall Score	Medal Awarded	Ranking
73 – 100	Platinum	Top 1%
66 – 72	Gold	Top 5%
54 – 65	Silver	Top 25%
45 – 53	Bronze	Top 50%

*Info retrieved from EcoVadis website:

https://support.ecovadis.com/hc/en-us/articles/210460227-How-are-the-EcoVadis-medals-Sustainability-recognition-levels-assigned-

Why EcoVadis?

Sustainability has been a hot topic in the global business community. Be it sustainable business ethics and practices such as Anti-Corruption and Anit-Bribery policies, Fair Employment Policies, or Corporate Social Responsibility, corporations want to work with suppliers and partners who have proven to be engaging in Sustainable business practices.

With the globalisation of worldwide economy, enterprises have dealings with increasing number of overseas suppliers and partners. Supply chain management is getting more challenging. Validating suppliers is a tedious and cumbersome process, requiring much time, effort, manpower, and not forgetting the constant monitoring as well!

EcoVadis provides a one-stop outsourced management platform for sustainability assessments of trading partners. Initially, it was mainly used by large MNCs. Over the years, EcoVadis has expanded to include over 75,000 companies in 200 industries across 160 countries. As such, it has become a trusted sustainability rating platform across the globe.

Benefits of working with or engaging the service of EcoVadis rated supplier

-You do not have to carry out the audit on your own, saving on manpower costs and efforts. The audits will be done by the accredited EcoVadis team impartially.

-The EcoVadis rating is done on a yearly basis, enabling you to manage suppliers’ performances easily, strengthening your corporation’s supply chain management.

– EcoVadis has become synonyms with words such as Sustainability, Corporate Social Responsibility. Working with best performing EcoVadis rated suppliers will uplift your corporation’s image, giving customers confidence in your products and services.

DTC World Corporation Pte Ltd, was awarded EcoVadis Gold medal for Year 2018, 2019 and 2020 consecutively, placing us in the top 5% in terms of our sustainability management system.

We are also glad to share that for Year 2021, DTC World has been conferred the Platinum medal, rendering us in the top 1%.

At DTC, sustainability is a philosophy of doing business. We position ourselves as the leading sustainability-focused corporate gifts & premium supplier. We believe that our standards and practices play a big role in holding our stakeholders and ourselves responsible for our sustainability practices throughout our business activities.