Sustainability

Sustainability as Part of Procurement

Deutsche Bank is to require from July any of its vendors with a contract over €500,000 a year to undertake a vendor sustainability rating assessment with EcoVadis, or another eligible rating agency. The agency assesses the vendors ESG work providing a score out of 100 and identifies how companies can increase their SEG rating – ESG Ratings are made up of an overall rating that breaks down into underlying Pillar and Theme Exposures and Scores.

From the start of 2023 high value contracts will only be awarded to vendors who achieve at least 25/100.

A Circular Solution for PET?

A report in Vice.com says scientists at the University of Texas ¹ have created a modified enzyme that can break down plastics that would otherwise take centuries to degrade in a matter of days.