Worldfavor and Verisk Maplecroft Alliance to Provide Deeper Insights of Supply Chain Risks
STOCKHOLM ⬝ 5 FEBRUARY: Worldfavor, a global sustainability platform that helps businesses access, manage, and share sustainability information, and Verisk Maplecroft, a global risk analytics and advisory firm that helps organizations understand how human rights, political, and environmental risks impact their supply chains, are forming a strategic alliance.
The Worldfavor and Verisk Maplecroft alliance will help companies automatically and thoroughly analyse risks throughout their entire supply chain. From deforestation to forced labour, data covering more than 150 risks, 198 countries, 74 industries, and 160-plus commodities is coupled with other supplier information to provide a comprehensive understanding of the risks affecting a worldwide portfolio of suppliers.
“By combining our risk data with Worldfavor’s platform, companies will be able to build a granular understanding of the operational, reputational, and continuity risks impacting complex global supply chains,” says Verisk Maplecroft’s president, Sondra Scott. “This will simplify decision-making processes by helping organisations identify and prioritise the suppliers and issues most material to them.”
Verisk Maplecroft’s data gives insight into the nature of the risk, the geographical region, and which industry or commodity the risk is linked to. This data strengthens Worldfavor’s analyses to help customers understand potential vulnerabilities in an organisation’s supply chain. Now, customers can more accurately use this data to identify, analyse, and mitigate risk in their supply chain. The analysis is done automatically and is accessible all in one place—the Worldfavor platform.
“Including Verisk Maplecroft’s risk portfolio in Worldfavor’s platform delivers even more in-depth insights to help build a resilient supply chain,” says Andreas Liljendahl, CEO at Worldfavor. “We’re really excited to make such crucial information available for our mutual customers.”
This feature is now available via an exclusive subscription for Worldfavor enterprise customers. Thanks to this alliance, companies using Worldfavor’s sustainability platform can combine potential risk data—per country, industry, or commodity—with the actions its suppliers take to mitigate those risks. This provides a simple way to gain new levels of transparency throughout a company’s supply chain and fuels effective and trusted data-driven decisions to build more sustainable supply chains.
About Worldfavor Worldfavor is a global platform for sharing and evaluating corporate sustainability and compliance information. Through its global network, the platform connects organizations and companies all over the world to exchange information and thereby enable sustainable decisions. The platform is used to gain transparency in large global supply chains, for monitoring of ESG on investments and other business partners, and to simplify companies’ internal sustainability efforts. With the solutions Sustainable Sourcing, Sustainability Management, Sustainable Investments and Sustainable Financing, the platform supports several aspects of corporate sustainability in a number of industries. Today, the platform is approaching 30,000 connected companies in over 60 countries. Among its customers are leading Nordic and international brands such as Swedbank, Nobia, Martin & Servera, Nudie Jeans and NIBE.
About Verisk Maplecroft Verisk Maplecroft’s data-driven approach to risk enables multinational organizations to understand how and where human rights, political, and environmental risks impact their assets, their reputations, and their supply chains. A unique portfolio of global risk analytics combines with expert insight to provide an independent, trusted view of the inherent risks impacting our clients’ operations, investments, and supplier base, giving them the critical business intelligence they need to make better, risk-adjusted decisions. Verisk Maplecroft is a Verisk (Nasdaq:VRSK) business.