The European Union (EU) Corporate Sustainability Due Diligence Directive, or CSDDD, outlines specific obligations for companies to perform due diligence on their operations and supply chains to identify, prevent, mitigate, and account for adverse impacts on the environment, and labor and human rights.
Related to the EU Corporate Sustainability Reporting Directive (CSRD) and the Corporate Due Diligence and Corporate Accountability Directive, this act is meant to address growing concerns around environmental, social, and governance (ESG) concerns that lead to an unjust society.
The Prevalent Third-Party Risk Management Platform can help you get ahead of sustainability reporting requirements with capabilities to assess third-party suppliers and vendors against a number of ESG topics and validate the findings with continuous external monitoring of supplier practices.
Integrate environmental and human rights due diligence into corporate policies according to Amendment 85, Article 5
Prevent environmental and human rights impacts from materializing or mitigate actual impacts pursuant to Amendment 45, Recital 34 of the Directive
Publicly report on due diligence findings and impacts pursuant to Amendment 92, Article 11
Identify human rights and environmental impacts in operations and supply chains according to Amendment 40, Recital 30
Monitor the effectiveness of due diligence measures in the supply chain
Engage with critical supply chain partners to reduce ESG risks
Align Your TPRM Program with Expanding ESG Regulations
Download this guide to review current and future ESG standards and legislation, and learn how to prepare your TPRM program for compliance.
Centralize a supplier's demographic information, 4th-party technologies, ESG scores, business and reputational insights, data breach history, and financial performance in a single supplier profile to inform risk-based supplier selection decisions.
Use a simple assessment with clear scoring to track and quantify inherent risks for all onboarded suppliers, tiering and categorizing suppliers according to their criticality to the business.
Take actionable steps to reduce ESG risk with built-in remediation recommendations and guidance.
Leverage 600+ assessment templates, including ESG-specific assessments, industry-standard questionnaires, and Prevalent Compliance Framework (PCF).
Store and distribute energy, pollution, diversity, accounting, and conflict of interest policy documents and more for dialog and attestation.
Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, sanctions, adverse media, OFAC violations, conflicts of interest, and more.
Centralize the onboarding, distribution, discussion, retention, and review of supplier contracts, and leverage workflow to automate the contract lifecycle, ensuring enforcement of ESG requirements.
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified risk reporting and remediation.
Enable vendors to submit proactive event assessments related to environmental disclosures, board changes, notifications and other events – and dynamically update their risk scores based on the results.
Tap into financial information from a network of millions of businesses across 160+ countries. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds, and more.
Screen against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to instantly identify potential leadership risks.
Identify, alert, and communicate exceptions to common behavior with built-in report templates. Automatically map results to common global ESG frameworks such as:Global Reporting initiative (GRI) ISO 26000 Sustainability Accounting Standards Board (SASB) Task Force on Climate-Related Financial Disclosure (TCFD) *United Nations Global Compact (UNGC)
How Does ESG Fit Into Your TPRM Program?
Our 14-page guide shares a best practices framework for incorporating ESG into your third-party risk management program.
Reduce the potential for business disruption and reputational damage by ensuring that new vendors adhere to sound ESG practices.
Add context to cybersecurity assessments and automate the scheduling, collection, analysis, management, and remediation of supplier risks in a central platform.
Ensure that supply chain partners have sound ESG policies in place to reduce the risk of fines, non-compliance, and reputational damage.
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