Australian Enterprise Awards 2023

Jan23435 Fast-growing and cutting-edge global ESG data provider FairSupply uses pioneering supply chain risk assessment technology to enable businesses and institutions to make ethical investment and sourcing choices. Assessing modern slavery, biodiversity loss, greenhouse gas emission, as well as water and land usage footprints all in one place, FairSupply is the leading provider of ESG data for businesses looking to identify ESG risks in their supply chain. Using worldleading proprietary technology to analyse clients’ data, FairSupply is a trusted provider of global ESG (Environmental, Social, and Governance) data, providing organisations with an assessment of the risks and impacts of their activities in relation to the environment and people. Companies provide FairSupply with their spend data or investment portfolio data so that an ESG risk assessment of their suppliers and investments can be carried out, linking global trade flow data and international standards to identify risk areas. Then, companies access receive an interactive dashboard which allows them to conduct detailed analysis and identify areas of high risk in their supply chain where further due diligence is required. ESG is quickly becoming a key consideration in business strategies and investment decisions. FairSupply ensures clients have full visibility of any identified risks across the whole supply chain. In this, FairSupply helps organisations shift from reactive to strategic engagement with ESG. Importantly, FairSupply’s assessment enables clients to identify and address forced labour slavery wherever it occurs along the supply chain. Modern slavery, the exploitation of individuals for personal or commercial gain, is a serious issue which may not always be as obvious as shackles and chains. It has been estimated that over 50 million people are currently enslaved in the world. FairSupply is dedicated to reducing the global prevalence of modern slavery. As a result of the Modern Slavery Act, large businesses operating in Australia are now required to report on the risks of modern slavery in their supply chain and take action to address these risks. Modern slavery occurs most frequently at around tier 3 or 4 of the supply chain, so it is important for businesses to look beyond their supplier, to their supplier’s supplier and so on. Research into entities required to report under Australia’s Modern Slavery Act suggests only 6% of businesses look beyond the first tier of the chain for modern slavery risks. FairSupply’s tools are the market-leading solution, mapping supply chains and investment portfolios up to tier 10. This is what differentiates FairSupply from its competitors. The depth of vision provided by its assessment technology is unparalleled. Currently, more than $800 billion of investment and spend data has been assessed for ESG risks including modern slavery using FairSupply’s platform. Furthermore, FairSupply works to reduce biodiversity loss. To do this, it has integrated a pioneering extinction-risk metric into its assessment system, allowing companies to map their impact on species extinction along the entire supply chain. The company also aims to reduce greenhouse gas emissions by helping businesses create strategies to reduce their carbon footprint. Using a proprietary carbon accounting methodology, its assessment measures both direct and indirect operation admissions, tackling a number of issues that have affected ESG assessment platforms in the past. Lastly, FairSupply also assesses water and land usage throughout the supply chain. More countries are introducing legislation that encourage large businesses to engage with ESG and consider the risks in their supply chains. For example, the German Supply Chain Act came into effect at the beginning of this year. There is also growing recognition of the intersectionality of ESG issues, particularly of overlaps with human rights and producing renewable materials. FairSupply assesses many ESG factors in one place, providing decision-makers with the necessary visibility to navigate intersectionality. It expects that the introduction of the extinction risk assessment will further increase awareness of intersectionality in ESG. With deep expertise and passion for the subject, FairSupply is aware that providing great ESG data won’t solve the world’s environmental challenges, but it believes it will be important to any solution. As a result of its dedication to the cause and its pioneering ESG risk assessment technologies, FairSupply is 2023’s winner of Leading Provider of ESG Data in the Australian Enterprise Awards. Moving forwards, the company is working to scale and sharpen its product, and will no doubt continue to make innovative additions to its already thorough risk assessment system. Contact: Kimberly Randle Company: FairSupply Web Address: Leading Provider of ESG Data 2023