24 Feb 2020 Bain & Co buys a minority stake in EcoVadis, leader in Supply Chain Sustainability Ratings
As of February 24, 2020 Bain & Company (Bain & Co) announced it has acquired a minority stake in EcoVadis.
Bain & Co will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. They will also seek to develop a focused approach around specific offerings for financial investors across fund strategy, diligence and post-acquisition.
Bain & Company’s investment, coupled with EcoVadis’ recently secured US$ 200m investment from CVC Growth Fund II, will enable EcoVadis to scale growth and maximize its impact on enterprise supply chains, embedding sustainability into business decision-making and corporate performance.
Focused on creating “the highest levels of value” for its clients, Bain & Company notes a comprehensive emphasis on economic, social and environmentla value in its aims. This indicates a growing acknowledgement across the firm and the global industries it serves —including private equity, consumer products, energy, finance, and technology—that the purpose of business must go beyond the singular focus of maximizing shareholder value.
Quoting a press release of Bain & Co of April 30, 2019: “In both 2018 and 2019, Bain & Company received the highest recognition, a gold designation, from EcoVadis, keeper of the leading environmental, social and ethical performance scorecard for global supply chains, putting the firm among the top 5 percent of companies rated.
Bain & Company is also regularly ranked as one of the best places to work, and the firm strives everyday to improve on these and other important aspects of sustainability including diversity and inclusion, responsible procurement, employee health and wellness, ethics, and governance”.
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