THE ESG SCORES
The measuring of a company’s ESG performance is an important step in the path to improve one’s sustainability, and an achievement that is important to share with one’s network.
Every Supplier who completes the ESG questionnaire according to the ESG Guidelines obtains a score of their sustainability level for each aspect of ESG, i.e. Environment, Social and Governance, made available on their profile in SupplHi’s platform (www.supplhi.com). The Scores are received through the application of the methodology contained within the “ESG Supply Chain Guidelines”, an industry-shared and independent project co-developed by some of the most demanding organizations of all sizes in oil& gas, chemicals, power, renewables, shipbuilding, construction, steel & metals, cement and adjacent industries.
The Guidelines provide a rigorous, cross-cutting and calibrated approach to be used for monitoring the ESG performance across the entire B2B industrial supply chain and are constantly updated to reflect the latest evolutions in the industrial ESG field. The scores are based on the actual revision of the Guidelines, are expressed on a scale ranging from A (highest evaluation) to E (lowest evaluation) and are made available on the SupplHi Vendor Management platform, on the Vendor’s profile, where they were calculated through the ESG meter.
In addition to the ESG scores, Suppliers who complete the questionnaire also received personalized suggestions on actions and initiatives to improve their sustainability score. Improving the Scores in the three ESG areas must be a priority for all players in the Industrial Supply Chain, first of all because it is a milestone in the road to a better future for the world, but also because ESG performances play a key role in determining the sustainability of an investment and – consequently – opportunities for future growth and differentiation from the competition.
THE ESG BADGE
The creation of an ESG Badge showcasing the scores achieved by Suppliers in each of the ESG aspects of sustainability is fully in line with the workgroup initiative: all results, actions and strategies that work and bring forward real outcomes should be shared and made easily available to the public, to facilitate the common goal of achieving a sustainable supply chain.
The scores, as previously mentioned, reflect both the answers given by suppliers in the dedicated questionnaires as well as the certifications and initiatives implemented by Suppliers throughout the years to improve their environmental, social and governance practices. Suppliers who complete the process receive their personalized badge directly on the SupplHi platform, on their profile.
SHARING THE SCORES ACROSS THE INDUSTRY NETWORK
The PR instructions have been created in order to help Suppliers share with their network the ESG Scores calculated according to the “ESG Supply Chain Guidelines” and include a detailed list of what should / should not be shared, a few suggestions on where to share it and a template that can be used to draft the press release / communication post.