Ethisphere and VECTRA Launch Supply Chain Due Diligence Assessments
Due diligence assessments offer organizations a streamlined way to assess if they and their supply chain partners have systems in place to meet Environmental and Human Rights regulatory requirements.
SCOTTSDALE, AZ – December 6, 2023 — Ethisphere, the global leader in advancing ethical business practices, has partnered with VECTRA International, a leading global responsible business consultancy, to offer Environmental and Human Rights (Social) Supply Chain Due Diligence Assessments that allow companies to measure how well their supply chain due diligence program meets regulatory requirements for identifying, preventing, mitigating, and remediating violations against human rights and environmental damage. Organizations interested in learning more can visit Supply Chain Due Diligence.
The assessments measure a company’s program maturity level in managing each supply chain topic (Environmental or Human Rights). The assessments were developed by mapping the requirements of leading international supply chain due diligence laws and directives. Companies can see how their program aligns with the regulations and whether they have the systems in place to sustain their program. The resulting reports show the company’s maturity and how it compares to the target maturity level for a good program and how it compares to the benchmark average of other companies.
“An effective supply chain due diligence program requires a company to establish internal controls and cascade their environmental and human rights requirements to their direct suppliers,” said Craig Moss, Ethisphere Executive Vice President. “These assessments offer an efficient way to understand if your program is aligned with regulatory requirements and where to prioritize areas for improvement. In addition to learning about your program maturity you can use the assessments to see whether your importer, contractor, manufacturers, and other suppliers have the systems in place to effectively meet requirements today.”
“Enabling organizations to enhance the ESG performance of their supply chain is critical to our mission at VECTRA,” stated Patrick Neyts, CEO, VECTRA International. “We are honored to partner with a great organization like Ethisphere in launching our Environmental and Human Rights Supply Chain Due Diligence Assessments. We sincerely hope this maturity assessment tool will help many companies create a lasting positive impact while fostering responsible practices and improving their supply chains.
Personally, I can’t wait to see the results.”
The Environmental and Human Rights Supply Chain Due Diligence Assessments cover 11 categories: Supply Chain Mapping; Risk Assessment; Strategy & Goals; Policies, Procedures & Records; Responsible Supply Chain Engagement; Governance and Oversight; Training & Communication; Monitoring; Corrective Action & Collaborative Remediation; Stakeholder Engagement; Reporting & Disclosure.
There are two levels of engagement with the supply chain due diligence program. For Level 1, the organization completes the assessment on the secure online platform and receives an auto-generated report, and an expert review call with Ethisphere and/or VECTRA to review the results, discuss risks and make preliminary recommendations. Level 2 engagement includes an independent evaluation by Ethisphere and/or VECTRA, along with a custom priority roadmap, a goal-setting workshop, and improvement project support to make measurable improvement in the highest priority areas.
To learn more, visit Supply Chain Due Diligence.
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, benchmarking, and guidance. Learn more about Ethisphere by visiting https://www.ethisphere.com.
About VECTRA International
VECTRA International, a premier provider of advisory solutions, driving positive impact on business environment for global enterprises. Committed to sustainable business approaches, it works with clients to develop groundbreaking solutions. VECTRA International believes in delivering relentless quality services to customers by maintaining social and environmental responsibilities, through its advisory solutions. VECTRA International drives a harmonious balance between growth and ethical responsibility, empowering businesses to thrive while positively impacting society and the environment.