RISK DOMAIN
Environmental, Social and Governance (ESG)
In today's business landscape, organizations are actively seeking ways to reduce risk, enhance resilience, and drive better performance. One effective approach is leveraging external risk intelligence to gain valuable insights into the ethical practices of suppliers. With Venmonitor™, you have the opportunity to access insights that measure their environment, social, and governance performance.
Screen potential suppliers for ESG performance pre-contract.
ESG refers to the specific metrics used to measure and report an organization's progress against its ethical goals. Business leaders are feeling the increasing pressure of practicing corporate social responsibility (CSR) and reporting their progress using environmental, social, and governance (ESG) metrics. And, naturally, these standards of transparency and disclosure extend to their suppliers.
With Venmonitor™ Point-in-Time, you can quickly screen for ethical and sustainable suppliers. You can leverage risk ratings, performance scores, and industry comparisons to screen if your supplier aligns with your ethical standards. Weak or poor, supplier ESG ratings may indicate unmanaged risks that can have a negative impact on your organization's reputation and financial performance.
Quickly identify suppliers showing ESG risks when prioritizing due diligence.
If you find yourself with many suppliers, it can be overwhelming to know where to begin. That's why, during your regular due diligence and oversight activities, you can now leverage the Venmonitor™ ESG risk ratings and scores to prioritize which suppliers require immediate attention for mitigation and remediation.
Venmonitor™ provides a convenient heatmap dashboard where you can easily view all your suppliers' risk ratings for ESG. This allows you to quickly identify which suppliers need your attention, which ones can benefit from improvement, and which ones are already showing signs of mitigation. By leveraging these scores, you can determine the necessary steps for further reviewing their ESG posture.
Actively monitor supplier ESG performance.
ESG scores can help you monitor and have visibility into your supplier’s performance and compliance over time, and alert you to any changes or increasing risk ratings that may require further investigation or due diligence. By monitoring all your existing suppliers with Venmonitor™ Daily Refresh, you can ensure you're taking proactive measures to maintain a resilient and efficient supply chain that meets your quality and reliability standards.
Venmonitor™ harnesses the industry's best risk intelligence data across more than six different domains so you are able to leverage for quick risk screening profiles on your suppliers.
- Data is sourced from the industry's most reputable cybersecurity rating providers
- The most important key data points across many domains are in one single view
- Access intelligence that typically requires individual licensing subscriptions
- Have the ability to purchase full subscriptions to other providers directly through Venminder when deeper dives are warranted