We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Avetta Launches Supply Chain Sustainability and ESG Risk Mitigation Solution
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Avetta Launches Supply Chain Sustainability and ESG Risk Mitigation Solution

Avetta Launches Supply Chain Sustainability and ESG Risk Mitigation Solution
February 22, 2022
No Comments

OREM, Utah—Feb. 22, 2022—Avetta®, the leading provider of supply chain risk management (SCRM) software, today expanded its Avetta One™ Platform with a powerful sustainability and Environmental, Social and Governance (ESG) risk mitigation solution that allows companies to reach their sustainability and ESG goals faster and with more confidence. With the new capabilities, the solution provides a holistic view of ESG status across the entire supply chain. Avetta is the only supply chain company to provide an ESG scoring system that considers individual company goals and global standards in 20 industry trades.

“To become more accountable and responsible, companies are setting aggressive sustainability and ESG goals,” said Arshad Matin, president and CEO of Avetta. “Now comes the hard part—delivering on these promises. With this solution, boards and executives now have a unified view across their companies and suppliers to manage risk and improve compliance.”

Reducing Risk While Achieving Compliance Goals
For multinationals, up to 90% of their environmental footprint is in the supply chain. But most companies do not have the visibility into sustainability readiness and goals of each supplier. This situation increases the risks of unknowingly taking on unethical work practices, using protected resources and contributing to global climate change, leading to potential regulatory penalties, civil and criminal liability, and brand and reputation damage.

Avetta’s sustainability and ESG solution solves this challenge by providing suppliers with analytics, sustainability ratings and maturity scores based on specific ESG standards and goals, such as Value Reporting Foundation (VRF – formerly SASB), Global Reporting Initiative (GRI), and Sustainable Development Goals (SDG). Key features of the solution that help companies to simplify their ESG compliance include:

1)Scoring ESG maturity: Avetta calculates an ESG Index that characterizes supplier levels of awareness and understanding by measuring ESG compliance across a range of global and specific company standards in 20 industries. To create these measures, Avetta provides analytics reports to help organizations determine which suppliers apply to which ESG requirements, based on company goals, multiple standards and codes of conduct. Suppliers are then guided through the registration process and evaluation completion based on their maturity levels.
2)Accurately measure and remediate ESG compliance: A scorecard shows the status and progress toward improvement. These capabilities enable companies to accurately measure and quickly remediate ESG compliance issues, reducing immediate risks while more quickly achieving long-term goals. Clients can then collaborate with suppliers to remediate gaps. The platform helps them optimize resource allocation, enable stakeholder awareness and source new suppliers from the network.
3)Enable data-driven decisions: Avetta’s platform leverages detailed analytics to target areas of concern, highlight achievements, and facilitate better corporate reporting and ongoing development of ESG and sustainability performance.

Suppliers using Avetta can showcase their maturity in the ESG space, making them reliable partners to work with, as well as discoverable and attractive to clients from a financial investment standpoint—all within the Avetta One platform.

In upcoming months, partners in the Avetta Marketplace will be added to assist suppliers with increasing their ESG performance. Available in the first quarter, Avetta is adding Sustain.Life as an Avetta Marketplace Partner, offering suppliers an affordable and effective solution to swiftly improve their sustainability performance—no matter the level of their experience. With Sustain.Life, companies can calculate and track their carbon emissions for free and utilize expert guidance and tools to reduce those emissions.

Data analytics dashboards provide simple, succinct reports to identify gaps and make specific action plans. Analytics reports give customers an unprecedented view of their supply chain through multi-risk analytics, supplier risk trends and supplier performance benchmarking. The platform uses almost two decades of data from millions of collected data points to provide real-time views on risks and delivers alerts on deviations from baseline measures. The analytics software includes customizable, interactive dashboards to gain insights that improve supply chain measures.

According to McKinsey & Company, organizations that fulfill ESG criteria see an overall cost reduction of up to 10%. In addition, ESG-focused management hedges against possible risk factors surrounding regulations and policy changes. Members on the Avetta One platform outperform industry standards and also reduce administrative expenses on average by 75%.

Single Platform to Manage Multiple Areas of Supply Chain Risk
The Avetta One Platform is the industry’s largest and most comprehensive supply chain risk management platform. The platform delivers a unified view of supply chain risks across safety and health, liability, workforce management, sustainability and ESG, diversity and inclusion, financial viability and cybersecurity. Avetta One also helps suppliers by quickly quantifying their compliance ratings and benefits workers by offering a central workforce portal to digitally store required job roles, training, competencies and certifications. To learn more visit, https://www.avetta.com/avetta-one.

Availability
The solution is available today for all Avetta One customers. To learn more, visit https://avetta.com/avetta-sustainability-esg.

About Avetta
The Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For the hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance.

https://avetta.com/avetta-sustainability-esg
Submit your logistics, material handling, or supply chain related company news in Supply Chain Quarterly's's Industry Press Room section or New Products section
Strategy Technology
KEYWORDS Avetta
  • Related Articles

    Avetta Financial Risk™ Launches, Enabling Organizations to Assess the Health of Their Supply Chain

    Five principles for creating a supply chain foreign exchange risk mitigation strategy

    Avetta One™ Platform Provides Unified View of Supply Chain Risk for Companies and their Suppliers

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Forecasts call for freight rate slumps in 2023

  • Projected U.S. recession in early 2023 will soften freight market

  • Inflation drops again as interest rate hikes hit home, NRF says

  • How to avoid the next crisis: A new approach to supply chain agility

  • Five levers to build a resilient supply chain

Featured Video

20221107korber large vs

Enhancing Customer Experience with Your Supply Chain Strategy

Viewer Contributed
With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

FEATURED WHITE PAPERS

  • Guide to Pallet Rack Safety

  • 3PLs: Complete Orders Faster with Flexible Automation

  • A shipper's guide to navigating post-pandemic holiday freight

  • THE NEW WAY TO WAREHOUSE: 4 Innovations in Automation & Robotics to Boost Warehouse Productivity

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing