Solution
Sustainability
Our third-party risk, internal control, and compliance management solutions are designed to support sustainability professionals with identifying, analysing, mitigating and monitoring sustainability risks.
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3 most common challenges and our solutions
Integrating sustainability into internal control
Embedding sustainability considerations into internal control frameworks to ensure business operations are environmentally and socially responsible.
Internal Control module
The 3rdRisk Internal Control module supports you assessing, monitoring and enhancing your sustainability controls. In addition, it facilitates the integration of sustainability metrics into your organisation’s internal control systems. This ensures ongoing monitoring and management of sustainability performance, making it a core part of organisational governance and operational excellence.
Environmental and social risk management (TPRM)
Identifying and managing environmental and social risks associated with third-party engagements, which can impact reputation and regulatory compliance.
TPRM module
The 3rdRisk TPRM module is designed to effectively evaluate and continuously monitor your organisations' internal and external sustainability compliance. It includes a thorough due diligence process to assess partners against environmental, social, and governance (ESG) standards. In addition, the module features ongoing risk monitoring, providing real-time insights into any changes in partners' sustainability practices.
Sustainability in third-party relationships (TPRM)
Ensuring that third-party partners, such as suppliers and contractors, comply with sustainability standards and regulations, such as the CSRD and CSDDD.
TPRM module
The 3rdRisk TPRM module offers comprehensive, easy-to-use tools for evaluating and monitoring third-party compliance with sustainability standards. This includes thorough due diligence, continuous risk monitoring, and actionable insights to ensure that your partners uphold the same sustainability values and practices as your organisation.
Achieving CSRD readiness: Essential steps for sustainability reporting
What you need to know about the EU Deforestation Regulation
Establishing a sustainable value chain community for retailers
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’s technology adapt to evolving sustainability regulations and standards?
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.
Is sustainability integrated into the internal control module of 3rdRisk?
Yes, the Internal Control module of 3rdRisk is designed to incorporate sustainability metrics into your internal control framework. This integration ensures ongoing monitoring and management of sustainability performance within your organisation.
How does 3rdRisk support sustainability in third-party risk management?
The 3rdRisk TPRM module 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.
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 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.
What is the CSDDD and how does it impact my organisation?
The CSDDD is a directive focused on ensuring that companies conduct thorough due diligence on environmental and social risks in their operations and supply chains. It impacts organisations by requiring them to identify, prevent, and mitigate the adverse impacts of their activities on human rights, the environment, and good governance.
How can 3rdRisk help my company comply with CSRD requirements?
3rdRisk aids compliance by providing tools for detailed sustainability reporting, data management, and integration of sustainability practices into business operations. Our platform simplifies the process of compiling and managing CSRD reports, ensuring your business meets these new standards efficiently.
What is CSRD and how does it impact my business?
The CSRD is a European Union directive that extends sustainability reporting requirements beyond large public-interest companies to all large companies and listed SMEs. It impacts your business by necessitating comprehensive sustainability reporting, including environmental impact, social responsibility, and governance matters.
Can I effectively manage third-party risks with 3rdRisk without having a dedicated team?
Yes. By using the TPRM module of the 3rdRisk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management or internal control activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.
Do I need training to operate the 3rdRisk platform?
No. No training or certification is required to operate the 3rdRisk platform. For organisations that choose to manage their internal control or third-party risk management program in-house, our platform acts as an intuitive platform, streamlining processes and making follow-up and monitoring straightforward. Its design ensures that teams can quickly familiarise themselves with its features, reducing the learning curve and allowing for immediate implementation.
