Client Profile: A large European retail company
Challenge:
The retail company was committed to enhancing the sustainability of its global sourcing practices. They needed a solution to efficiently onboard new suppliers, monitor their ESG performance, and mitigate risks within their supply chain.
Solution:
The company implemented the GreenFi platform to address these challenges. GreenFi enabled the European retail company to:
- ESG Due Diligence for Supplier Onboarding: Perform comprehensive ESG due diligence on potential suppliers during the onboarding process, ensuring sustainability considerations were integrated into their supplier selection criteria.
- Supplier ESG Reporting: Collect and monitor ESG performance data from its suppliers, enabling the company to track the sustainability progress of its supply chain.
- ESG Compliance Verification of Suppliers: Utilise the GreenFi platform to verify the ESG compliance of its suppliers, confirming they met the company’s sustainability standards.
- Supplier Monitoring of ESG Incidents: Continuously monitor suppliers for any ESG-related incidents, allowing the company to address and mitigate potential risks in a timely manner.
- Supply Chain ESG Due Diligence and Risk Mitigation: Conduct in-depth ESG due diligence on its supply chain, identify areas of risk, and implement strategies to enhance the overall sustainability of its sourcing practices.
- Sustainable Financing: Provide sustainability linked loans to suppliers for transitioning to sustainable operations, in partnership with banking partners
Results:
By implementing the GreenFi platform, the European retail company can now:
- Integrate sustainability as a key factor in their supplier onboarding process
- Improve transparency and visibility into the ESG performance of its supply chain
- Ensure compliance with its sustainability requirements across its supplier network
- Proactively identify and mitigate potential risks within its sourcing operations
- Enhance the overall environmental and social impact of its procurement practices
To learn more on industry best practices and case studies, contact us at hello@greenfi.ai
