The EcoVadis sustainability rating is a popular tool in the business world. By using the carefully calibrated methodology of a reliable independent organisation, companies and their stakeholders gain an accurate picture of the sustainability of business operations. More than 125,000 companies worldwide have already chosen to undergo an EcoVadis assessment.
Vanbreda too recently gained an EcoVadis rating. Although sustainability has been a key priority for us for quite some time, applying this objective methodology turned out to be particularly useful from a documentation viewpoint. Marc Van kerckhoven comments: ‘A family business like Vanbreda sets store by long-term thinking, so the theme of sustainability is naturally high on our agenda. We already had plenty of initiatives in progress, but the way they fitted together wasn’t always consistent. Everyone knew what was being done, but there was no written record.’
A look in the mirror
Carefully mapping out the sustainability initiatives was valuable in itself, but of course that is by no means the only advantage of engaging with the EcoVadis process. ‘It’s always interesting to take a look in the mirror and see in black and white what’s going well and what’s going less well,’ says Marc Van kerckhoven. ‘In addition, you’re incentivised to take a more systematic approach to sustainability – a theme that’s integral to our company’s DNA. It’s also an objective way to answer the questions asked by our various stakeholders: clients, prospects, shareholders, potential colleagues and so on.’
Ethics, labour rights and human rights
Vanbreda ranks among the top 10% of companies and has therefore been awarded a silver EcoVadis medal. The company scores particularly well on the indicators for the themes of ethics, labour rights and human rights, and the environment. The emphasis of the sustainability policy of a service-provider such as Vanbreda is of course less on making production more sustainable and more on social aspects. ‘Our service depends on having smart, enthusiastic employees. We derive value from people, who only stay on board if they believe in our mission and if we take truly excellent care of them.’ In addition, ethics are essential. ‘We’re in a position of trust with regard to other companies. That trust has to be both gained and maintained. For that reason standards, values and good governance are incredibly important.’
Extra documentation
Crucial to the EcoVadis system – and to interpreting the rating – is comparison at industry level. Vanbreda’s positioning as an insurance broker at the forefront of the wider insurance industry gives Marc Van kerckhoven considerable satisfaction. ‘It’s great to receive this recognition, especially considering the others who are up there with us. We’re first among equals, although the large international insurance companies and pension funds generally have greater financial strength.’
Resting on laurels is out of the question, though. There are still steps to be taken on a number of sustainability topics, and above all on documentation. ‘Looking at the feedback from EcoVadis, the main suggestion was that we document our current efforts even better. By introducing extra measurement points and possibly having certain processes audited externally, we can take a big step towards achieving the maximum score for some indicators.’
Risk management and healthcare
There is always room for growth where sustainability is concerned, and this is also true for the insurance industry in general. One of the points that Marc Van kerckhoven makes in this regard is about risk management. ‘Now that we’re facing more and more risks, such as the tangible consequences of climate change, the insurance industry must do what it takes to provide even better assistance to clients. After all, that’s our core business.’ In a context in which one Belgian in seven is still putting off medical treatment for financial reasons, Marc Van kerckhoven sees another important area for attention. ‘Healthcare shouldn’t be a luxury product. By making high-quality cover accessible and providing sound risk advice, we can really make a difference to society.’
Across industries, certain sustainability issues must gradually become the norm: minimum ambitions to which a number of initiatives could easily be added. ‘Every company these days has a duty to keep its ecological footprint within reasonable limits and to monitor its employees’ well-being,’ says Marc Van kerckhoven. ‘This includes giving them fair remuneration, but also means thinking about matters such as ergonomic working conditions and work-life balance.’
Preparing for the future
Looking ahead, Marc Van kerckhoven believes it is very likely that new emphases will be added in the sustainability context. This already happened, for example, during the energy crisis, when interest in energy efficiency suddenly sky-rocketed. ‘By focusing on programmes such as EcoVadis, you are encouraged as an organisation to keep raising the bar, and also to prepare properly for all these new dimensions.’
‘EcoVadis wasn’t a one-off exercise for us,’ emphasises Marc Van kerckhoven. ‘Vanbreda continues to look ahead ambitiously with regard to sustainability. Our long-term ambition is to be among the undisputed leaders in our industry, and also to be a driving force within it.’
Our EcoVadis scorecard is available on request via our contact form.
