New York, NY, USA, Paris, France July 27, 2017 – With enterprises investing heavily to combat growing supply chain risk and highly-complex and uncertain regulatory environments, EcoVadis has added Regulatory DataCorp. (RDC) data to its market-leading “360 Watch” functionality. The new advancements enable EcoVadis customers to draw from more than 2,500 sources when evaluating suppliers and give procurement, compliance and supply chain leaders the insight and control they need to avoid disruptions and compliance breakdowns.
“It’s absolutely critical for purchasing and supply chain managers to know their vendors inside and out. If you don’t know who you’re doing business with, there will almost certainly be surprises – and bottom-line consequences,” said Pierre-Francois Thaler, the co-CEO of EcoVadis, the leading platform for environmental, social and ethical performance and risk ratings for global supply chains.
“EcoVadis and RDC have a shared vision for secure, ethical supply chains. We are delighted RDC’s leading risk-curated data and risk screening platform has been selected by EcoVadis and we look forward to supporting their clients to improve their environmental and social practices globally,” said Rupert de Ruig, Managing Director EMEA & APAC of RDC.
With the recent investments into “360 Watch,” EcoVadis’ ratings continue to serve as a core pillar within the risk and compliance strategies of leading organizations. EcoVadis’ methodology is built on international CSR standards including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000, and collects information from a large variety of trusted sources, including:
- Public administrations and agencies, including the U.S. Environmental Protection Agency and Fair Trade Commission
- More than 300 trade unions and federations across more than 200 countries
- New media sources, including 600 sources in more than 10 languages and 25 countries
- International NGOs, including the WWF, Greenpeace, Oxfam and Transparency International
- Critical business networks, including Responsible Care, MVO Nederland, Global Compact and WBCSD
- More than 50 specialized corporate social responsibility (CSR) publications
The new integration with RDC’s database bolsters the EcoVadis methodology for identifying ethics and fair business practice risks across the globe. RDC verification and external databases are used to screen every supplier assessed by EcoVadis, helping major brands to identify and mitigate CSR risks that could negatively impact brand reputation, financial performance and consumer confidence.
“We have seen far too many companies suffer both publicly and financially as the result of poor risk management and CSR practices. And the stakes continue to get higher: 2016 saw a record $2.43 billion in total SEC and FCPA fines and penalties, along with the first convictions from the UK Bribery Act. Every organization is taking notice and looking for a solution,” continued Thaler. “The addition of Regulatory DataCorp. data to our platform gives our customers the confidence and information they need to know who they are doing business with, and make informed decisions that protect their brand, boost compliance and improve procurement and sustainability performance.”
EcoVadis operates the first collaborative platform providing sustainability ratings and performance improvement tools for global supply chains. EcoVadis delivers simple and reliable supplier sustainability scorecards covering 150 purchasing categories, 110 countries and 21 CSR indicators. EcoVadis has become a trusted partner for procurement organizations in more than 120 leading multinationals including Verizon, Nestlé, Johnson & Johnson, Heineken, Coca-Cola Enterprises, Nokia, L’Oréal, Salesforce, ING Bank, Air France-KLM and GSK.
About Regulatory DataCorp.
Regulatory DataCorp, Inc. (RDC) delivers powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity.
With the world’s largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; and vendor screening and monitoring to a wide range of clients worldwide. Learn more about RDC by emailing firstname.lastname@example.org or visiting www.rdc.com.
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