Molly O’Brien’s Post

Have you downloaded our latest #ESG Risk Report yet? 📊📑 Get it here: https://hubs.la/Q02KgGr60 What's this report about? ➡️ This report aims to shed light on ESG risk by presenting findings from an in-depth analysis of over 200 ESG risk assessments conducted across 11 industries. The risk reported reflect both a company's own operations and its #SupplyChain; however, the emphasis of our findings will focus on how supplier practices contribute to these risks and areas where procurement teams can effectively drive improvements. What will you get out of it? ➡️ The material environmental, social, and governance risks that impact companies. ➡️ Insights into supplier practices that contribute to these risks. ➡️ Analysis of common mitigation strategies that hashtag#procurement teams are adopting to address supplier risk. By sharing this data, you can benchmark your own practices, evaluate ESG supplier risk, and improve mitigation strategies to strengthen your organization's supply chain resilience. We hope you find it useful!

Supply Chain ESG Global Risk, outlook 2024. Businesses hold a responsibility to reduce negative impacts from their operations, be it through lessening environmental impacts or mitigating violations of basic human rights for workers. This is the foundation of supply chain Environmental, Social and Governance (ESG) due diligence and should be the driving force behind enhancing a responsible sourcing program. Our 2024 Supply Chain ESG Global Risk Outlook report sheds light on the highest-risk sourcing geographies posing significant threats to global supply chains and illustrates how trends are evolving. Drawing on 75+ million data points from 25,000+ annual audits, our industry-leading supply chain intelligence platform, EiQ, reveals insights that businesses can use to inform their critical due diligence programs. This year, our report highlights alarming trends, including a rise in forced labor violations across key markets and a worrying drop in supplier transparency levels. These findings are particularly of concern given the increased regulatory focus and increase in supply chain legislation globally. Through our data-driven insights, businesses can gain a deeper understanding of their risk exposure and improve responsible sourcing decision-making and risk management. We update our risk ratings bi-annually to support ongoing monitoring of supply chain ESG issues and identify emerging risk hotspots. Download our latest report here: https://lnkd.in/g-VdQ7cx #ESG #Trends #SupplyChain #SocialResponsibility #ForcedLabor #HumanRights #Assessments #EiQ #LRQA

In spite of rising government mandated due diligence legislation, we have found a clear increase in ESG risk within key sourcing regions since 2023. At the issue level, this includes higher forced & child labour risk, & inhumane treatment. Businesses must stay vigilant and proactive in managing these risks while gaining greater visibility over their end-to-end operations. Within our 2024 Supply Chain ESG Global Risk Outlook, our proprietary data & analysis can help you navigate these challenges effectively. #ESG #Sustainability #HumanRights

❗Nearly half of key sourcing regions are showing higher risk for ESG violations than in 2023. This comes from our latest Supply chain ESG global risk outlook report, which provides comprehensive insights into the most pressing ESG risk trends affecting global supply chains in 2024. Discover the regions with the highest risks for critical issues such as forced labour and health and safety violations and gain actionable insights to enhance your responsible sourcing programs and proactively manage risks. Download the full report👉 https://lnkd.in/eUSuBzi9 #ESG #SupplyChain #Sustainability #ResponsibleSourcing #RiskManagement #LRQA #2024ESGRiskOutlook

Our latest supply chain ESG global risk outlook is available now. This report offers a detailed analysis derived from over 75 million data points and 25,000+ supplier audits via our supply chain due diligence platform, EiQ. As regulations tighten, our report will give you the upper hand to proactively manage your supply chain risks. Download the report: https://lnkd.in/eJP6dr7i #esg #supplychain #riskmanagement #compliance

There is a lot of noise at the moment about #duediligence. The regulatory environment, the issues and the impact. Lots of companies are looking for how to manage due diligence and better understand risks; this report combines the best of the publicly available data with our unique proprietary data. Explore the reality of risk so you can actually demonstrate due diligence (spoiler alert ⏰ it's probably higher than your data suggests given our data showing increased transparency risk). #esg #risk #supplychain #cs3d JP Stevenson Kevin Franklin Andy Gibbard Suzanne van Huijgevoort Gunarani Ganasagaran Marcela Romero Merino

As supply chain ESG risks are going up and transparency levels are going down, this report supports the continued need for strong supplier engagement and due diligence. For anyone who is still building a business case for supply chain sustainability, or who needs to convince skeptics, the amount of data and analysis in this report is pretty compelling.

✳️ There’s something troubling lurking in every supplier, in every business, including your own… and that ‘something’ is RISK. In a recent Art of Procurement #webinar, our own Laura Noonan explained why recognizing the presence of risk in your organization and #SupplyChain is just the first step in minimizing threats to the business. It's what you do next that really counts. Get the webinar on-demand here: https://hubs.la/Q02PvV7F0 Download our ESG Risk Report here: https://hubs.la/Q02PvWc90 #procurement #RiskManagement #ESG

Even more on #EU #Europe #GRC Market Drivers and Trends . . . There was not enough space to post the trends resulting from the drivers. So here you go . . . EU Perspectives on GRC TRENDS: Business-Driven #RiskManagement. The #ChiefRiskOfficer has more of an executive role with direct relationships to the board and other senior executives. In some cases, risk management/GRC #RFP have been driven by the board of directors. #Risk has a business focused and aligned on achieving business objectives. Many risk officers/managers get frustrated with solution providers (mainly from the #USA) that approach and message risk from an IT focus. Risk-Based Compliance. Compliance is also risk-based, aligned with objectives, and not checked checkboxes. When it comes to product and safety compliance, the EU has a prove-that-it-is-safe mentality while the USA has a prove-that-it-is-harmful mentality. Integrated Risk and #ResilienceManagement. There is a strong focus on resilience management and integrating this into risk management. This makes older traditional #businesscontinuity approaches and software obsolete and unable to deliver value to EU firms. #ESG Focused on Objectives. ESG is focused on establishing objectives and measuring performance and risk against those objectives. Solutions with a risk-centric view of ESG and not an objective-centric view do not get very far in the EU. There is a lot of focus on ESG reporting right now, and organizations are buying solutions. ESG is also very broad in the EU, while many in the USA see it as climate change. #ThirdPartyRiskManagement. Third-party risk management is a huge market that is growing in the EU and driven both by resilience (e.g., EU #DORA) and ESG (e.g., EU #CSRD, EU #CSDDD, and many country-specific requirements).

REPORT: Examining the impact of ESG risk in supply chains Today's highlight is on supply chain risk and due diligence. With major global disruptions, organisations need to transform their supply chains to increase both their security and resilience in times of trouble. Existing supply chain models were created during open cross border trade and economically stable periods. An exercise is underway to integrate ESG risk management along this value chain and assess its ongoing impact to people and the planet. A recent report examined the impact of ESG risk in supply chains using RepRisk data. The research concluded that firms with fewer supply chain-related ESG incidents exhibit far superior future accounting performance than those with more risk exposure. Check out the full report to learn more about the value implications of ESG risks in supply chains. #ESG #risk #supplychains #duediligence #sustainability Speak to our Academic Team to learn how this applies to your work: https://lnkd.in/gXddcuAz