Global aerospace industry creates voluntary standard approach to sustainability assessments for suppliers, aims to build a more transparent and sustainable supply chain
The International Aerospace Environmental Group (IAEG), the leading global aerospace forum for sharing environmental best practices, today announces its contractual relationship with business sustainability ratings provider EcoVadis. This relationship will enable IAEG member organizations, which consist of global aerospace and defense companies, on a voluntary and unilateral basis, to accelerate Environmental Social Governance (ESG) performance improvement across their value chains.
For over a decade, IAEG has provided a forum for global aerospace and defense companies to collaborate on and share innovative environmental solutions for the industry. IAEG is now expanding to address broader sustainability topics within social and governance. The expansion is driving a voluntary industry supply base sustainability assessment and engagement approach that is aligned with the EcoVadis methodology to further sustainable aerospace throughout the value chain. The approach includes holistic coverage of ESG criteria, sharable results, and sector level sustainability performance benchmarks that help IAEG member organizations deploy and measure their supply chain sustainability efforts and improvement strategies.
“With our broad member base and shared ambition built over 11 years, IAEG and our members’ collective value chain partners are ideally positioned to reap the business and sustainability benefits of voluntary reusable sustainability assessment and stewardship actions aligned to industry priorities,” said David Graeber, IAEG Board Sponsor. “With EcoVadis, we aim to achieve members’ goals of increasing visibility and accelerating sustainable aerospace, as well as creating value for suppliers by reducing assessment requests, streamlining disclosures and enabling performance improvement.”
The relationship accelerates performance improvement by providing suppliers the capability to share results across the EcoVadis Network of over 100,000 companies. Additionally, IAEG member companies will be better equipped to demonstrate ESG due diligence, manage risks, and track performance gains across their value chain through EcoVadis ratings and scorecards.
“Together with IAEG, we will be able to benchmark sustainability performance, engage on improvements and achieve the best practices needed to drive a more sustainable future for IAEG members and the entire industry value chain,” said Richard Eyram, Chief Customer Officer at EcoVadis. “Our data shows that when peers collaborate in an industry initiative on the EcoVadis’ platform, they can accelerate and amplify positive impact.” To learn more about how IAEG is working to advance innovative sustainability solutions for the aerospace industry, visit www.iaeg.com.
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About IAEG
The International Aerospace Environmental Group (IAEG) is a not-for-profit trade association of companies offering civil or defense aerospace products (including platforms and systems) and services in the global aerospace industry. IAEG’s purpose is to promote industry common interests by implementing initiatives that will drive significant and cost-effective improvements in the sustainability performance of aerospace products and in the industry’s associated supply chain. It also works to identify feasible and appropriate means to drive continual improvement in aerospace industry manufacturing and supply chain processes, thereby supporting delivery of consistently high-quality products with reduced sustainability impacts.
Learn more on iaeg.com or LinkedIn.For additional information about IAEG, please contact Christer Hellstrand, IAEG Program Director (chellstrand@iaeg.com) or Michele Lewis, IAEG Communications Officer (michele.lewis@collins.com).
About EcoVadis
EcoVadis is a purpose-led company whose mission is to provide the world's most trusted business sustainability ratings. Businesses of all sizes rely on EcoVadis’ expert intelligence and evidence-based ratings to monitor and improve the sustainability performance of their business and trading partners. Its actionable scorecards, benchmarks, carbon action tools, and insights guide an improvement journey for environmental, social and ethical practices across 200 industry categories and 175 countries. Industry leaders such as Johnson & Johnson, L’Oréal, Unilever, LVMH, Bridgestone, BASF and JPMorgan are among the 100,000 businesses that collaborate with EcoVadis to drive resilience, sustainable growth and positive impact worldwide. Learn more on ecovadis.com, Twitter or LinkedIn.
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