Sustainability
Our cloud-based platform is designed to support sustainability professionals with identifying, analysing, mitigating and monitoring sustainability risks within the value chain.
3 challenges
#1. Embedding sustainability
Embedding sustainability considerations into internal control frameworks to ensure business operations are environmentally and socially responsible.
#2. Identifying ESG risks
Identifying and managing environmental and social risks associated with third-party engagements, which can impact reputation and regulatory compliance.
Key benefits
- Align with best-practices
- Streamline processes
- Improve stakeholder engagement
- Standardise reporting
- Improve decision-making
3 common challenges
and our solutions
Our solution for sustainability professionals
Register internal and external risks. Link risks to a specific third-party, internal control(s) and/or location within your organisation. Follow the ISO 31000 best-practice workflow containing of risk identification, assessment, treatment and monitoring. Use the interactive risk matrix to easily filter different risk disciplines and scores.
One integrated register for all your internal & external compliance requirements Use it to manage compliance requirements for security, sustainability, privacy, legal, quality and many others. Define a specific scope & applicability per compliance requirement and link them to one or more assessment questionnaires. Monitor compliance in real-time.
One integrated register for all your third parties. Register multiple contracts per third-party. Assign risk profiles to segment your landscape, taking into account multiple risk domains such as cybersecurity, sustainability and compliance. Connect with your procurement system to retrieve and enrich your supplier data.
Integrate the different third-party assessment efforts of all your risk and compliance disciplines. Combine questionnaires from different risk disciplines into one third-party assessment. Suppliers log in to a secure supplier portal in which they can collaborate and provide their evidence. Our AI-powered review module makes an initial analysis.
Continuously monitor your third-parties in 2 million news sources and receive instant alerts on negative news articles. Activate our out-of-the-box integrations with BitSight, SecurityScorecard, Ecovadis, Refinitif and many others to retrieve your third-parties' security, sustainability, financial or compliance risks ratings in one central overview.
Our platform enables you to register, track and manage the action plans of your third-parties, ensuring that any identified risks are effectively managed and resolved. This feature allows for the documentation of action plans, assigning responsibilities, and setting deadlines for risk mitigation activities. Our integration wit Microsoft Teams ensures that your internal teams will be notified mmediately about new action plan and changes through a Teams message.
Equipped with best-practice reporting templates, our platform incorporates AI to assist in generating comprehensive summaries of the entire assessment process. This advanced reporting capability ensures that you have a clear, actionable understanding of your third-party risk landscape, facilitating informed decision-making and strategic risk management. Our best practice reporting templates include visuals such as bar charts and spider diagrams and can be branded to reflect your corporate identity. Data can be exported to PDF and Excel based on your specific needs.
FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
Can 3rdRisk assist in managing third-party compliance with sustainability standards?
Absolutely. Our TPRM platform helps assess and monitor your third-party partners and suppliers to ensure they adhere to sustainability standards. This is crucial for CSRD compliance, as it extends the responsibility of sustainability practices across your supply chain.
Can 3rdRisk help in managing supply chain sustainability under CSDDD?
Absolutely. Our platform provides tools for deep supply chain analysis, enabling you to monitor and ensure that every component of your supply chain adheres to sustainability standards, which is crucial under the CSDDD.
How does the platform identify and manage sustainability risks?
Our platform offers robust risk assessment tools that help in identifying and evaluating sustainability risks. It also provides strategies for mitigating these risks, ensuring proactive management and compliance with CSDDD and the CSRD.
Can 3rdRisk’s technology adapt to evolving sustainability regulations?
Definitely. Our technology is built to be flexible and adaptable to the evolving landscape of sustainability regulations and standards. 3rdRisk ensures that your organisation stays ahead of the curve in meeting current and future sustainability compliance requirements.
Does your platform support compliance with the Corporate Sustainability Reporting Directive (CSRD)?
Absolutely. Our platform is equipped to help retailers comply with the CSRD. We provide tools and features that facilitate the necessary reporting and management of sustainability-related information, a critical aspect for modern retailers. Together with Deloitte we are also working on a retail sustainability community.
What tools does 3rdRisk offer for risk management in sustainability initiatives?
Our platform includes a dedicated risk management module for sustainability initiatives. It offers tools for identifying, assessing, and mitigating risks, ensuring a proactive approach to sustainable business practices and aiding in maintaining CSRD compliance.
How does 3rdRisk support sustainability in third-party risk management?
Our platform enables organisations to effectively manage sustainability risks in their supply chain. It offers tools for conducting thorough sustainability due diligence, continuous monitoring of environmental and social risks, and ensures that third-party partners comply with your sustainability standards.