EcoVadis & CDP: Keys to Sustainability

What is EcoVadis? EcoVadis is a corporate social responsibility (CSR) and sustainability assessment platform. Created in 2007 by Frédéric Trinel and Pierre-François Thaler, it provides ratings to more than 75,000 companies worldwide.

The platform assesses companies' performance in four key areas: Environment, Labor Practices and Human Rights, Ethics and Sustainable Procurement.

The evaluation is based on a detailed questionnaire completed by the companies and accompanied by documentary evidence. EcoVadis analyzes this data and delivers a score, which allows companies to understand their performance and identify areas for improvement. This assessment is valuable for companies that want to demonstrate to their customers and investors their commitment to sustainability.

What is CDP?

CDP (formerly the Carbon Disclosure Project) is a non-profit organization founded in 2000 by Paul Dickinson. This platform aims at transparency and the reduction of carbon emissions and other environmental impacts. CDP works with companies and cities to help them measure and manage their environmental performance through a data disclosure system.

Companies participating in the CDP are required to publicize their emissions and the strategies they follow to reduce them. This data is accessible to investors and other stakeholders, who use the information to assess companies' environmental sustainability.

Comparison of EcoVadis and CDP

Although both EcoVadis and CDP are concerned with assessing the sustainability performance of companies, there are some differences in their approaches and objectives.

1. Focus:
   • EcoVadis has a broader focus, assessing performance in four key areas: Environment, Labor Practices and Human Rights, Ethics and Sustainable Procurement.
   • The CDP mainly focuses on the environment, specifically carbon emissions, climate change, water security and forests.
2. Audience:
   • EcoVadis is aimed at companies of all sizes and industries that want to improve their sustainability performance and demonstrate their commitment to their customers and suppliers.
   • The CDP is mainly aimed at large companies and cities that wish to publicize their environmental data and demonstrate their commitment to reducing their environmental impact.
3. Evaluation Method:
   • The EcoVadis uses a detailed questionnaire that covers a wide range of sustainability topics. Responses are scored and companies receive an overall score that can be used to communicate their performance.
   • The CDP requires the disclosure of detailed environmental data, which is then analyzed and presented in reports available to investors and other stakeholders.

EcoVadis and CDP: Synergies

A company's participation in EcoVadis can enhance its participation in the CDP as well. The EcoVadis questionnaire includes questions about CDP participation, as the disclosure of environmental data is critical to assessing a company's environmental performance.

This link allows companies to leverage the data they have already made public through CDP to improve their EcoVadis score, facilitating the assessment process and enhancing transparency and consistency in the information made public.

Conclusion

EcoVadis and CDP are two powerful tools that help companies assess and improve their sustainability performance. While they have different focus areas and methods, linking them together provides companies with a comprehensive approach to managing their social and environmental performance. By participating in both schemes, companies can demonstrate their commitment to sustainability and enhance their credibility with their investors, customers and suppliers.

For more information and to see how OLYSIS can assist you in the evaluation and disclosure process, please contact us.