Supplier Audit and Corrective Action
Operational audits and in-depth risk assessments are performed annually on significant suppliers and high-risk suppliers to ensure the compliance with Supplier Code of Conduct, laws, various measures, and relevant ESG requirements e.g. governance, business ethics, human rights, employee treatment, occupational health and safety, social responsibility, environmental management, climate change, biodiversity, procurement, and knowledge regarding sustainable procurement. Suppliers are requested to develop appropriate risk assessment plans to improve, correct, and develop the system and approaches to ESG operations. EGCO Group shall monitor and evaluate the performance of such a plan throughout the entire implementation process
| Assessment | Supplier Type | Tool | Frequency |
|---|---|---|---|
| Desk Assessment | Critical and High-risk/ Significant Sub-group | Self-Assessment Questionnaire | Once upon adding supplier in Approved Vendor List |
| Onsite Assessment (2nd party assessment) | EGCO Group’s Active Suppliers | EGCO’s Supplier Audit Checklist EGCO’s Supplier Audit Report |
Annually |
| Onsite Certification (3rd party assessment) | EGCO Group’s Active Suppliers (Critical and High-risk/ Significant Sub-group) | ISO14001 ISO50001 ISO45001 Other Relevant Certificates |
Every 3 years |
