The CSR assessment will show the main risks and opportunities that a business faces and gives a thorough analysis of the following: How effective is the company’s strategy in responding to emerging opportunities and issues? Where are the company’s strengths and where does it have room to improve with regard to CSR? The answers to these questions can provide valuable information to stakeholders.
Most companies have these assessments conducted at the request of their clients and stakeholders. The lack of information regarding corporate social responsibility makes it difficult for upper management to make beneficial and informed decisions. Intelligence gathered from the assessment can protect a firm from heading in an unsustainable direction
Many large corporations now incorporate CSR into their brand image, making Supply Chain Sustainability, and social ethics just as important as the products they sell.
A CSR assessment generally involves the following steps:
There are many ways to conduct an assessment, but this is one way for a firm to evaluate the full range of its operations through a CSR lens. The EcoVadis Assessment and Rating Methodology captures and analyzes information and distills it into a scorecard with a rating on a 0 to 100 scale. The methodology is based on the following principles: