ESG and Third-Party Risk Management
The EU Corporate Sustainability Reporting Directive (CSRD) is a law that will require companies to report on environmental, social and governance (ESG) matters, including those that arise from their supply chains, as part of their regular company disclosures. This new reporting was developed to improve consistency in reporting against sustainability goals.
The reporting requirements are called European Sustainability Reporting Standards (ESRS) and generally align with traditional environmental, social and governance (ESG) categories, including:
The Prevalent Third-Party Risk Management Platform can help you get ahead of sustainability reporting requirements with capabilities to assess third parties against a number of ESG topics, and validate the findings with continuous external monitoring into vendor practices.
Meet CSRD reporting requirements with automated assessments and templates
Minimize business disruptions with continuous visibility into each vendor’s ESG reputation and track record
Gain a clear picture of third-party ESG practices – before and after signing supplier contracts
Reduce reporting complexity by centrally managing ESG assessments with all other risk assessments
Align Your TPRM Program with Expanding ESG Regulations
Download this guide to review current and future ESG standards and legislation, and learn how to prepare your TPRM program for compliance.
View a vendor’s demographic information, 4th-party technologies, ESG scores, business and reputational insights, data breach history, and financial performance to inform risk-based vendor selection decisions.
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate the contract lifecycle, ensuring enforcement of ESG requirements.
Build supplier profiles by tapping into thousands of sources of vendor intelligence, plus a feed reporting on the ESG status of 12,000 companies. Profiles include information from the EPA Environmental Crimes Database.
Use a simple assessment with clear scoring to track and quantify inherent risks for all onboarded suppliers.
Leverage 200+ assessment templates, including industry-standard questionnaires, the Prevalent Compliance Framework (PCF), and customizable questionnaires to assess against ESG criteria.
Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, sanctions, adverse media, OFAC violations, conflicts of interest and more.
Tap into financial information from a network of millions of businesses across 160+ countries. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds, and more.
Screen against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to instantly identify potential leadership risks.
Enable vendors to submit proactive event assessments related to environmental disclosures, board changes, notifications and other events – and dynamically update their risk scores based on the results.
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified risk reporting and remediation.
Take actionable steps to reduce ESG risk with built-in remediation recommendations and guidance.
Store and distribute energy, pollution, diversity, accounting and conflict of interest policy documents and more for dialog and attestation.
Identify, alert and communicate exceptions to common behavior with built-in report templates.
Managing ESG Risks Across the Extended Enterprise
This analyst report from GRC 20/20 uncovers best practices for including ESG in your third-party risk management program.
Reduce the potential for business disruption by ensuring that new vendors adhere to sound ESG practices.
Add context to cybersecurity assessments and automate the scheduling, collection, analysis, management and remediation of vendor risks in a central platform.
Ensure that supply chain partners have sound ESG policies in place to reduce the risk of fines, non-compliance and reputational damage.
The EU Corporate Sustainability Reporting Directive (CSRD) is a law that will require companies to report...