Assess and continuously monitor your supply chain against ESG and sustainability criteria
Environmental, social and governance (ESG) criteria include important guidelines that you can use to assess potential suppliers, vendors or other third parties against your organization’s own policies and investor, customer and regulator expectations.
ESG risk management addresses three primary classes of risk:
- Environmental criteria consider how a company performs in sustainability – for example their energy use, waste, pollution, and/or consumption of natural resources.
- Social criteria examine how a company manages relationships with employees, suppliers, customers, and the communities where it operates – for example in diversity, human rights and protecting consumers.
- Governance deals with a company’s management, executive pay, audits and internal controls, and shareholder rights.
As more governments consider ESG regulations, and customers and investors expect sound ESG practices, now is the time to consider how your third parties stack up. The Prevalent Third-Party Risk Management Platform centralizes ESG monitoring data and correlates it with the results of questionnaire-based ESG risk assessments to standardize and simplify ESG compliance reporting across your supply chain.
Key Benefits
- Saves time by providing one-stop access to thousands of ESG scores, intelligence and controversies fully aligned with other enterprise risks
- Reduces the risk of false positives and false negatives with analyst-validated reporting
- Reduces risk by improving visibility into potential ESG-related supplier reputational problems
- Improves consistency of ESG insights to simplify compliance and audits
Key Features
Supplier Pre-Screening
Build comprehensive supplier profiles that compare and monitor vendor demographics, fourth-party technologies, ESG scores, information from the EPA Environmental Crimes Database, sustainability ratings, recent business and reputational insights, data breach history, and financial performance. See results in line with RFx responses for a holistic view of vendor risk.
Contract Lifecycle Management
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate the contract lifecycle, ensuring enforcement of ESG requirements.
Inherent Risk Scoring
Use a simple assessment with clear scoring to track and quantify inherent risks for all onboarded suppliers.
ESG Risk Assessment
Leverage a dedicated ESG risk assessment that examines risks from 10 common ESG domains including: Community; CSR strategy; Emissions; Human rights; Innovation; Management; Product responsibility; Resource use; Shareholders; and Workforce.
ESG Monitoring
Continuously monitor ESG-related business and operational news updates complementing ESG scores available out-of-the-box in the comprehensive supplier profile.
Supplier Reputation & Sanctions Monitoring
Access qualitative insights from over 550,000 public and private sources of reputational information, including analyst-curated negative news, regulatory and legal actions, sanctions, adverse media, OFAC violations, conflicts of interest and more.
Scope 1, 2 and 3 Emissions Reporting
Review analyst-validated scope 1, 2 and 3 data for supplier’s direct and indirect emissions. Compare supplier data over time and against industry averages.
EVIC Reporting
Calculate carbon EVIC (equivalent value in cash) intensity for each supplier to understand climate impact and inform supplier selection decisions.
Financial Governance & Transparency Monitoring
Tap into financial information from a global network of millions of businesses across 160+ countries. Access 5 years of financial performance data, including turnover, profit and loss, shareholder funds, credit ratings, payment history, bankruptcies, investments, and more. Screen new vendors and monitor existing vendors for informed sourcing decisions.
Politically Exposed Persons (PEP) Screening
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.
Event Reporting
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.
Central Risk Register
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
Comprehensive ESG Compliance Mapping
Simplify ESG compliance reporting by mapping assessment results and risks to common ESG frameworks such as the EU Corporate Sustainability Reporting Directive (CSRD), the German Corporate Supply Chain Due Diligence Act (LkSG), the Global Reporting initiative (GRI), ISO 26000, the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-Related Financial Disclosure (TCFD), and the United Nations Global Compact (UNGC).
Built-in Remediation Guidance
Take actionable steps to reduce ESG risk with built-in remediation recommendations and guidance.
Document & Evidence Management
Store and distribute energy, pollution, diversity, accounting and conflict of interest policy documents and more for dialog and attestation. Leverage built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm key criteria are addressed.
Risk Reporting
Identify, alert and communicate exceptions to common behavior with built-in report templates.
Schedule a free, personalized solution demonstration to see if Mitratech Prevalent is a fit for you.
Who Wins
Procurement
Centrally manage vendors and monitor their performance against contractually established SLAs and KPIs using a customizable survey with built-in workflows.
IT Security
Get unparalleled insights into risk trends, status and outliers with the latest machine learning analytics, leveraging from the most risk intelligence sources available.
Risk Management
See which vendors pose the most risks and in what areas, helping to align your overall enterprise risk management strategy.
