Supply chain risk management software provider Avetta announced the launch of a new sustainability and ESG risk mitigation solution on its Avetta One platform.
According to Avetta, the new solution aims to provide a holistic view of ESG status across the supply chain, enable multinational companies to address the challenges posed by a lack of visibility into sustainability readiness and goals of their suppliers, which creates regulatory, legal and reputational risks by potentially unknowingly participating in unethical work practices, using protected resources and contributing to global climate change.
Avetta provides an ESG scoring system that considers individual company goals and global standards in 20 industry trades. The new solution provides suppliers with analytics, sustainability ratings and maturity scores based on specific ESG standards and goals, including the Value Reporting Foundation (formerly SASB), GRI, and UN SDGs. The solution provides ESG maturity scores for suppliers, scorecards enabling companies to accurately measure and quickly remediate ESG compliance issues, and analytics to target areas of concern, highlight achievements, and facilitate better corporate reporting and ongoing development of ESG and sustainability performance.
Arshad Matin, President and CEO of Avetta, said:
“To become more accountable and responsible, companies are setting aggressive sustainability and ESG goals. 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.”