Working capital management firm Taulia has partnered with EcoVadis, a business sustainability rating provider, a press release said Tuesday (May 10), to provide sustainability and environmental friendliness ratings for Taulia customers.
EcoVadis will provide environmental, social and governance (ESG) ratings for Taulia’s Sustainable Supplier Finance solution, which will let businesses identify the best suppliers and also encourage better ESG performance.
Taulia’s Sustainable Supplier Finance solution supports businesses in identifying and monitoring ESG performance and qualifications across the supply chain.
The EcoVadis model includes various management indicators in 21 “sustainable criteria” in environment, labor & human risks, ethics and sustainable procurement.
Taulia CEO Cedric Bru said the lack of transparency had always been a barrier for ESG with businesses. He said business leaders could not “build on their own proactive ESG efforts by encouraging suppliers and partners to report reliably, consistently and comparably against globally recognized benchmarks.”
“The journey to sustainable resilience in value chains can be rapidly accelerated when motivations for trading partners are aligned to reliable performance benchmarks across the broadest possible range of companies,” said Pierre-François Thaler, co-CEO and co-founder with EcoVadis. “By connecting EcoVadis Sustainability Ratings to Taulia’s extensive financing offerings and global network, our collaboration brings tangible financial incentives to fruition to drive positive social and environmental impact at a global scale.”
See also: SAP to Secure Majority Stake in Working Capital Firm Taulia
Taulia had a change in its business in January when SAP, the business processes software firm, secured a majority stake in the company, PYMNTS wrote.
That acquisition supported SAP’s expansion, including the business network and tools to help CFOs and help firms add more liquidity and cash flow help.
Taulia will still operate independently under the brand, and Bru was named as the continuing CEO of Taulia.
“Taulia strengthens our portfolio and adds value to a point that is key to every company: financial flexibility and stability. With that, they contribute to making supply chains more resilient,” SAP CFO Luka Mucic said.
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