The objective of the EcoVadis Corporate Social Responsibility (CSR) rating methodology is to measure the quality of a company’s CSR management system through its policies, actions and results. The EcoVadis CSR rating methodology is based on seven founding principles.
- Evidence Based The burden of the proof is on the company assessed. CSR management systems leave traces (e.g. policies, certificates, reporting). Supporting documents are a must. Company declarations are credited only if evidence is provided.
- Industry, Location and Size Matter The CSR management system is assessed taking into account material industry issues, presence in risk countries, and the size and geographical span of the company.
- Diversification of Sources The rating is based not only on supporting documents provided by the company but also on standpoints published by NGOs, trade unions, international organizations, local authorities, or other 3rd party organizations (e.g. auditors, CDP, Dow Jones Risk Compliance Database).
- Technology Is a Must A rating system can only become reliable and robust if it is supported by technology. Technology facilitates industrialization, which enables fast learning, growth and scalability.
- Assessment by International CSR Experts The supporting documents are analyzed by a team of CSR experts from around the globe who keep track of the latest best practices in CSR.
- Traceability and Transparency Every document used in the rating process is stored securely and can be traced back. Companies assessed have access, if needed, to the most detailed results and to each scoring decision.
- Excellence Through Continuous Improvement A professional rating methodology is open to quality controls, continuous improvement, and to stakeholders’ feedback. EcoVadis has implemented a company-wide quality management system supported by a client advisory board and a scientific committee.