Companies have more and more expectations about their CSR commitments and EcoVadis makes it possible to give them a serious framework for structuring a sustainability management system sturdy.
In this article, we will focus on the EcoVadis Gold medal, a very nice distinction granted by EcoVadis to validate the company's commitments on the following themes: Environmental, Social, Ethical and Human Rights and Responsible Purchasing.
Even if this medal is not an end in itself, it provides concrete proof of all the efforts made by companies to be more sustainable.
Find out what the EcoVadis Gold Medal is, what it really means for businesses and our practical tips for getting it and going beyond the EcoVadis Platinum medal.
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What is the EcoVadis Gold medal?
Understanding the EcoVadis Gold Medal
The EcoVadis Gold medal is awarded to companies that have known demonstrate significant commitments to sustainability!
It indicates that the company is among the best in terms of performance on the themes evaluated by EcoVadis: Environmental, Social, Ethical and Responsible Purchasing.
The EcoVadis Gold medal is the second on the podium after the Platinum medal. Then we have the Silver medal and then Bronze.
It is awarded in 2024 to the top 5% evaluated businesses!
To obtain it, the company must have solid policies and actions on its sustainability issues, going beyond simple regulatory requirements.
This medal should not be considered an end in itself. The most important thing is to to commit and to be part of a process of continuous improvement.
EcoVadis medals
Understand the EcoVadis medal system in our article.
What it really means to get the EcoVadis Gold medal
Have An EcoVadis medal goes far beyond simple recognition, it validates a comprehensive sustainability management system on the themes: environmental, social, ethical and responsible purchasing.
Obtaining the EcoVadis medal
This means that the company is taking concrete commitments on the majority of its sustainability challenges, but still has some progress to make to reach the EcoVadis Platinum medal.
In fact, some sustainability issues may lack maturity in the evidence. To remedy this, it is important to spend time Set the right quantitative goals on all material issues, set up new actions Well track key KPIs.
For example, a company awarded the EcoVadis Gold medal may not have an objective on biodiversity when it is a material issue, whereas a company that has obtained the Platinum medal, will define goals for all its sustainability challenges.
Good to know: The EcoVadis Gold medal recognizes strong sustainability performance, but still highlights areas where your management system can mature further before aiming for Platinum.
Obtaining an EcoVadis Gold medal: our practical advice
Earning an EcoVadis Gold medal is an ambitious goal for any company that would like to demonstrate its commitment to sustainability.
Our Ditto experts often face companies that implement good CSR practices without structuring them. The EcoVadis questionnaire helps you define this structure!
In this paragraph, our Ditto experts share with you 7 practical tips for a successful EcoVadis assessment.
Our 7 tips for getting the EcoVadis Gold medal
Define logical, ambitious and quantitative goals for all KSIs
Your goals should be clear, measurable, ambitious, but achievable, and cover all the important aspects of your business.
For example, a good goal for a tech company may be to aim to reduce energy consumption by 20% in three years by optimizing the energy efficiency of its data centers.
Set up and monitor projects with a positive impact for all its sustainability challenges
We advise you to take the time to identify your projects and internal procedures that have a positive impact on all Key Sustainability Issues activated by Ecovadis, for which you have set quantitative goals for continuous improvement. You must then make sure that you have convincing documents that will prove the existence of this project or procedure within the life of the company.
You will then monitor their relevance and impact through performance KPIs.
For example, a manufacturing company started a project to reduce waste by reusing production materials. This company has formalized an internal procedure explaining the reuse process. To understand its positive impact, it will monitor the quantity of waste reduced over the year, thanks to this new internal process.
Track performance KPIs on all KSIs
Key performance indicators (KPIs) must be monitored to understand the performance of your actions, and to monitor the achievement of your improvement goals.
A food company can track KPIs such as the reduction of CO2 emissions, the use of water, and the recycling rate of packaging.
Prioritize transparency and internal and external communication
Transparency on goals, actions and results in terms of sustainability is essential. Regular communication with employees, customers, and partners keeps them informed and engaged.
For example, a consumer products company may publish an annual sustainability report detailing its goals, progress, and challenges encountered.
Actively involve management
Management should be fully committed to sustainability initiatives. Their support is crucial to mobilize the necessary resources and to inspire the entire organization.
EcoVadis encourages businesses to invite leaders to participate in sustainability initiatives, to give speeches at internal events and ESPECIALLY to integrating sustainability goals into business strategies
Collaborate with suppliers
Working closely with suppliers to improve their sustainable practices is important. Businesses must encourage their value chain to adopt high standards and help them achieve these goals.
For example, a textile company wants to ensure that its partner factories meet international labor standards. To support them, it can organize training on diversity or forced labor for its key suppliers.
Demonstrate sustainable innovation
The constant search for innovation in sustainable practices is necessary. The adoption of new technologies and the exploration of innovative methods to reduce environmental impact and improve its societal impact are recommended actions.
For example, a construction company may adopt green building techniques, such as using recycled materials and implementing renewable energy systems in their buildings.
All these improvements in CSR governance can help you improve your score and get the EcoVadis Gold medal, but much more than that, they are ways to anchor your business in a serious and structured CSR approach.
Upgrade from the EcoVadis Gold medal to Platinum
Going from the EcoVadis Gold medal to the Platinum medal is a real challenge!
Only 1% of companies evaluated in the last 12 months succeed in obtaining the EcoVadis Platinum medal.
It's a great proof an ambitious sustainability management system and a desire to always seek to improve its practices social, environmental, ethical and responsible purchasing.
Our experts share some tips to help you take this step!
Identify areas of improvement and the weakest KSIs
To upgrade from the EcoVadis Gold medal to Platinum, it is important to conduct a thorough diagnosis of your sustainability practices and identify areas for improvement.
We recommend that you assess your main sustainability indicators (KSI) to determine which are the lowest rated and require particular attention.
When you get the result of your evaluation, EcoVadis shares numerous tips with you and information to help you improve. It is strongly recommended to follow the instructions shared on their site.
Cover all KSIs
Full coverage of all KSIs is essential to get the Platinum medal. Businesses need to make sure they don't overlook any aspect of sustainability!
This includes ambitious and measurable goals for the environment, social, ethical and responsible purchasing.
If you are an agri-food company, you can not only calculate and reduce your carbon emissions, you probably also have an impact on the use of water, for example.
You cannot omit sustainability issues on which you have an impact, otherwise your system for managing risks, impacts and extra-financial opportunities will be incomplete. This is what EcoVadis highlights through its evaluation.
Memberships and certifications
CSR memberships and certifications can help you strengthen the credibility of your commitment. You can choose recognized international standards and certifications, such as ISO 14001 for environmental management or SA8000 for social responsibility, for example.
Take the case of a textile company, obtaining the Global Organic Textile Standard (GOTS) certification to guarantee products made from organic materials and fair working conditions, is a positive point for its EcoVadis evaluation.
By following these recommendations, you are going even further in your CSR commitment, which will surely allow you to obtain the EcoVadis Platinum medal.
Conclusion
Congratulations to all the companies that succeed in obtaining the EcoVadis Gold medal. This is one of EcoVadis' highest awards, before the EcoVadis Platinum medal.
More than just a medal, it's about celebrating all the efforts and commitments made by the company to be more sustainable and limit its negative impacts on the Environmental, Social, Ethical and Responsible Purchasing part.
Obtaining this medal does not mark the end of the journey, but rather a new step to go even further in terms of sustainability.
Our practical tips shared in this article can help you build a good sustainability management system and potentially get a good EcoVadis score and a medal.
After the EcoVadis Gold medal, you can aim higher and try to increase your score for get the Platinum medal. Find all the information on the EcoVadis Platinum medal in our article.
