Page 54 - Demo

Sustainability Report 2024
Sustainable Supply Chain
About our Supply Chain
Sustainability plays a significant role within the Crisil supply
chain. Crisil promotes the adoption of sustainable, ethical
and transparent practices throughout every aspect of the
procurement process, ensuring that the Company operates
with integrity and responsibility. By integrating sustainability
principles into its supply-chain operations, Crisil not
only enhances its overall operational efficiency but also
effectively mitigates various risks.
Crisil works with a supply chain that has 1,400+ service
providers, predominantly in the areas of IT services and
support, IT software, IT equipment, facility management,
administration and security, and consultancy and
professional services. Our supply chain is predominantly
based in India. The annual spend through our supplier
chain is ` 697.76 crore. A significant part of our supply chain
comprises business in the small and medium-scale sector.
Governance around the supply chain
Crisil Supplier Code of Conduct
Crisil encourages its supply chain partners to embrace
the values outlined in the Crisil Supplier Code of Conduct.
Our Supplier Code of Conduct describes the minimal
standards of behaviour to which Crisil expects its suppliers
to comply within the areas of child labour, health and
safety, environmental stewardship, fraud prevention,
non-discrimination, and business ethics. The terms and
conditions of the purchase orders (PO) sent to vendors
emphasises the importance of adherence to the Supplier
Code of Conduct.
Supply chain sustainability
assessment
To ensure that our partnerships align with our Supplier Code
of Conduct principles, we carefully evaluate our suppliers’
through comprehensive self-assessments that we require
them to complete. The self-assessment encompasses
critical aspects such as the environmental responsibilities
that our suppliers must uphold, maintenance of safe and
healthy workplaces, and safeguarding of human rights
throughout their operations.
Crisil diligently ensures that its suppliers are in compliance
with essential social regulations, focussing on significant
areas such as adherence to the Office of Foreign Assets
Control (OFAC) regulations, enforcement of minimum wage
standards, prevention of child labour and implementation
of anti-bribery measures, all of which are assessed through
self-assessments.
The assessments are performed on a regular basis, and if
any unfavourable responses regarding the aforementioned
minimum social regulations are received from our suppliers,
these responses are reviewed by our dedicated business
and corporate teams, leading to the initiation of necessary
corrective actions that ensure no significant gaps remain
unaddressed. Minimum adherence to the social norms
outlined above is now an essential component of the
criteria utilised for the onboarding of new vendors starting
from 2023. We believe that by introducing these rigorous
standards, we not only promote ethical practices within
our supply chain but also enhance the overall integrity and
sustainability of our operations.
90.80%
of Crisil’s supplies are procured from
local suppliers
100%
new suppliers were screened for
sustainability criteria in 2024
115
suppliers covering
15.38%
of our procurement spend
assessed for sustainability
practices during the year
2024.
The aggregate percentage of the supply
chain assessed till date based on the
current year’s value of business, is
78.38%
comprising
300+ suppliers
Read Crisil’s Supplier Code of Conduct
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