Examples of ESG in a sentence
Each Party (i) is committed to conducting business ethically and responsibly and in adherence to internationally recognized Environmental, Social and Governance (“ESG”) standards, as set forth in the Ten Principles of the UN Global Compact (“ESG Standards”); and (ii) acknowledges having a code of conduct aligned to the ESG Standards available on the Party’s respective website, to which each Party (including their supply chains) is expected to adhere.
Purchaser and Supplier will mutually agree upon a corrective action plan (“CAP”) in the event: Supplier materially violates the ESG Standards or (ii) Purchaser has a substantiated ESG related concern based on the results of Supplier’s Scorecard or reported in the ESG Assessment during the duration of the contract.
If Supplier does not have a Scorecard available, Supplier shall, at the request of Purchaser, participate in an ESG assessment or audit (“ESG Assessment”) as provided by Ecovadis or other equivalent ESG assessor acceptable to Purchaser.
Supplier shall, at the request of Purchaser, share Supplier’s ESG rating received by Supplier within the last three (3) years (“Scorecard”) as issued by an internationally recognized ESG assessor (i.e. Ecovadis, or other equivalent ESG assessor acceptable to Purchaser).