EcoVadis, the leading sustainability intelligence platform for global supply chains, today announced its partnership with the European Financial Reporting Advisory Group (EFRAG) as part of the “Friends of EFRAG” group. This collaboration is built on a shared goal to promote consistent, trustworthy, and actionable sustainability reporting across industries, especially across global value chains. Most importantly, this partnership will reinforce interoperability between the EcoVadis rating methodology and the European Sustainability Reporting Standards (ESRS) to simplify sustainability reporting and regulatory compliance.
As a purpose-driven organization under the Loi PACTE, EcoVadis is committed to guiding all companies toward a sustainable future. By joining the “Friends of EFRAG”, EcoVadis reaffirms their dedication to global reporting standards and the importance of clear, valuable sustainability data that supports decision-making and benefits society.
EcoVadis’ methodology aligns with ESRS, helping companies meet the Corporate Sustainability Reporting Directive (CSRD) requirements that came into effect in 2023. These regulations apply to large EU companies and non-EU companies listed on EU markets, starting in January 2024, and thousands more in the coming years. EcoVadis customers are using data from their sustainable procurement programs to complete value chain inputs to their CSRD reports. Furthermore, high alignment of EcoVadis methodology with ESRS also allows companies rated by EcoVadis to leverage their existing CSRD disclosures to provide sustainability information for the purpose of their EcoVadis rating.
The CSRD brings sustainability reporting on par with financial statements, covering all aspects needed to understand a company’s value creation and social impact. To support this, EcoVadis provides sustainability risk mapping, disclosure, ratings and scorecards aligned with EFRAG’s ESRS.
“Our methodology has always been aligned to global standards such as the UN Global Compact, OECD guidelines, as well as other EFRAG collaborators such as the Global Reporting Initiative (GRI). Our goal is to empower all our customers with the value chain data they need for CSRD reporting, and contribute positively to global environmental and social issues,” said Pierre-François Thaler, co-founder and co-CEO of EcoVadis.
By joining forces with EFRAG, EcoVadis is taking important steps to ensure interoperability between sustainability reporters and sustainability raters. This partnership highlights our commitment to providing businesses with the tools and data they need to meet evolving regulatory standards while driving positive environmental and social change.