Page 55 - Demo

Responsible Business Conduct
Supporting sustainability
improvements within the supply chain
As we move forward to enhance our suppliers’ standards,
particularly in the area of sustainability, we have made a
strategic decision to focus on elevating their social practices
throughout this year.
Given Crisil’s extensive involvement in the services sector, we
designed a Prevention of Sexual Harassment (POSH) training
for our supply-chain partners who lack necessary policies
or practices for POSH. Through this we not only ensure
they adhere to legal requirements and regulations but also
contribute to the development of a supply-chain network
that is both respectful and ethically sound.
Supply Chain Inclusion
At Crisil, we provide fair and equal opportunity
to all suppliers, regardless of their background or
characteristics. Our central procurement team,
which is based in India, manages the Company’s global
procurement initiatives. However, to address specific
local requirements of each geographical area, we actively
engage with local suppliers wherever possible,
ensuring that our procurement practices are tailored
to the unique needs of each market.
Crisil remains acutely aware of the importance of
inclusive procurement strategies, recognising that these
approaches can yield broader societal benefits by creating
economic opportunities for disadvantaged communities. The
supplier policies of Crisil offers guidance on sourcing from
these varied groups of suppliers, thereby strengthening our
commitment to inclusion in every aspect of our operations.
During 2024, our initiatives for inclusive sourcing were as
follows:
31.80%
of procurement through MSME and women-owned vendors*
*In value terms; India spend only
Supply Chain capacity building
In 2021, Crisil launched a comprehensive training programme
focussed on supply-chain management. The training
concentrates on Crisil’s key policy frameworks, including the
Crisil Supply Chain Code of Conduct which govern the supply
chain. The training covers a wide range of topics across various
domains, including social and environmental sustainability,
ethical business conduct and compliance, and best practices
in supplier management.
45 suppliers covering
22.20%
of our procurement spend trained on sustainability in 2024
Considering the training conducted during 2022 and 2023,
the aggregate percentage of the supply chain trained till date,
based on the current year’s value of business with them, is
63.30% comprising
200+ suppliers
Creating an environment conscious supply chain
At Crisil, we consider our suppliers as strategic partner,
and consequently, we strive to engage with those partners
who share a similar commitment and vision regarding the
principles of sustainability, thereby promoting a collaborative
approach to sustainability. To achieve our ambitious goal
of minimising our operational carbon footprint, we have
launched a systematic effort to collect essential emissions
data from our suppliers, a crucial step in our overall
sustainability strategy. This initiative focusses on our larger
suppliers, who are significant contributors to our higher
Scope 3 emissions, enabling us to address the most impactful
areas first. Furthermore, our suppliers training programme
underscores the imperative for the supply chain to adopt and
implement responsible and sustainable standards in critical
areas such as energy consumption, greenhouse gas (GHG)
emissions and waste reduction, thereby promoting a more
sustainable framework across the board.
Vendor engagement process
Engaging with stakeholders is crucial to the organisation’s
success, as it helps shape their needs into organisational
goals. Therefore, Crisil believes it is essential to engage with
stakeholders to understand their expectations, needs and
concerns and ensure seamless and enduring collaboration.
Suppliers are encouraged to inform of any unethical practice
or grave misconduct observed while providing services to
Crisil, on: whistleblower@crisil.com.
Read Crisil’s Whistleblower Policy
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