Econova CSR Solutions
Article provided by Econova.
We are very proud to introduce Econova CSR solutions Ltd. a newly established company dedicated to helping their clients reach the next level of success, by providing tangible Corporate Social Responsibility, Environmental and Health & Safety Solutions, incorporating a total service from strategic planning to implementation.
By undertaking a comprehensive and systematic review of their clients’ entire operations, Econova is able to establish and formulate policies required for the management of their CSR objectives. This will provide clients with the necessary documentation to implement these agreed policies, such as Health & Safety Risk Assessments, Company Safety Statement, Environmental and Waste Policies, as well as policy and procedure statements relating to employees.
Leading Global Brands are increasingly requiring their suppliers to meet specific CSR standards, in addition to this many are also demanding independent accreditation to ensure these policies have been implemented across their suppliers’ organisation.
Heineken recently issued a Global directive, stating certain suppliers must hold Ecovadis Gold level accreditation from within the Ecovadis Sustainability Ratings System by Dec 31st 2017, making CSR a mandatory criteria for suppliers to continue to provide goods into Heineken’s Global operations.
EcoVadis provides Supplier Sustainability Ratings for more than 30,000 companies including leading multinationals such as Nestlé, Johnson & Johnson, Heineken, Coca-Cola, L’Oréal, Merck, and Pernod Ricard Group.
Gold Level accreditation represents the highest possible ratings level obtainable from Ecovadis, considering they also issue Bronze and Silver level awards which represent scores below 62/100, increasing client demands are a significant issue for companies to respond to, however it also clearly provides a massive opportunity for companies to obtain a critical competitive advantage within their industry by being recognised as an organisation which fully embraces the values of CSR, rather than being compliant to the minimum mandatory level.
2016 saw new EU regulations coming into effect whereby it became mandatory for publicly traded companies with more than 500 employees to include sustainability measures in their annual reports. This information includes “policies, risks and results” related to “social, environmental and human-rights impact, diversity, and anti-corruption policies.” The law will impact roughly 6,000 companies however it’s currently estimated that less than half are already engaged in sustainability reporting.
Econova recently assisted their client Lucas Luxury Packaging Limited in obtaining Gold Level accreditation from Ecovadis, achieving a result which places Lucas in the TOP 1 % of suppliers assessed by EcoVadis in all categories.
Econova’s Managing Director Tuija McCarthy outlined the key benefits in adopting and implementing a clear CSR Framework, as being increased productivity and operational efficiencies, leading to greater profitability and significantly reduced operating risks.
She continued by saying “CSR is now a real opportunity for Irish businesses in light of recent concerns arising from both Brexit and the US, we see the embracing of CSR policies as a significant competitive advantage for business’s operating in, or looking to expand, into the global marketplace”.