Vizibl’s new SBTi Framework Edition kickstarts supplier engagement programmes in just four weeks

09-OCT-2023: London, United Kingdom. Vizibl, the world’s leading digital procurement platform for Supplier Collaboration and Innovation, today announces the launch of its new Science-Based Targets Initiative (SBTi) Framework, which is aimed at helping large corporations get their supplier engagement for sustainability programmes stood up and ready to launch in just four weeks.

Expanding Vizibl’s existing supplier collaboration and innovation functionality, this new configuration allows organisations to:

• Get started with just their supplier raw spend data, which Vizibl intakes at the start of the process;
• See this data cleansed, normalised and enriched, mapped and loaded onto Vizibl’s sustainability launchpad for emissions;
• Use the launchpad to quickly visualise emissions hotspots, how many suppliers have responded to CDP in the last 12 months, which of those suppliers have committed to a science-based target, segment and prioritise which suppliers  to focus on for the most effective reduction of he organisations scope 3 GHG emissions;
• Quickly select cohorts of suppliers to add to supplier engagement programmes and be in a position to start taking action after just four weeks;
• Set a roadmap of phased improvement targets for the programme to chart a course towards setting and meeting science-based targets, both for the customer company and their suppliers;
• Prove all the supplier engagement action that’s been taken to decarbonise their supplier base, in one central location using the Vizibl platform, to mitigate against the rising tide of risk from upcoming and existing ESG regulations.

This process follows SBTi’s supplier engagement guidance steps and leads the organisation through the process, automating key steps of the framework that would otherwise be administratively-intensive spreadsheets, document libraries, email and reporting analytics work.

Not only that, the programme that is ready to launch at the end of this process is aligned to a UN-backed global sustainability standard for supplier engagement in the Science-Based Targets Initiative, supporting Vizibl customers evidence the collaborative actions associated with upcoming mandatory ESG regulations around scope 3 reduction, and is underpinned by a library of supporting content, created by Vizibl, specifically to guide the organisation further through the process of setting and ultimately achieving near-term science-based targets.

Once the programme is ready to launch, the Vizibl team is on hand to walk the organisation through the launch process and the ongoing programme rollout and maintenance, step by step, with a series of out of the box communication templates, guides, and a full content library, continuously monitoring progress to ensure the programme stays on track and meets the agreed objectives.

‍Background

One of the most effective ways to move from emissions measurement to real scope 3 reduction actions is by using the Science-Based Targets Initiative's (SBTi) supplier engagement guidance framework, working through the five stages to ensure robust action is taken and progress is both reported accurately and verified independently.

The configuration of Vizibl’s best-in-class industry solution for supplier collaboration and innovation to feature a new SBTi framework aligns the platform with the SBTi supplier engagement guidance. With this framework, enterprise organisations can get on the path to meeting science-based targets within their allotted time frame, by implementing and executing a robust supplier engagement strategy.

The SBTi Framework functionality is underpinned by Vizibl’s existing Supplier Relationship Management, Supplier Collaboration Workspace, Supplier Sustainability Management, and Supplier Innovation Hub, with the next generation of SBTi frameworks supporting nature and specifically biodiversity currently under future release assessment.

Richard Hogg, Vizibl CEO: “With mounting ESG regulatory pressure on businesses, ensuring our customers have the tools they need to quickly and accurately assess and improve sustainability performance across their supply base is key to Vizibl. Ensuring that our customers can build a body of evidence that shows the efforts they’re taking, both at speed and at scale, to engage their suppliers to decarbonise their supply chains, is critical to meeting net zero targets. By bringing the SBTi supplier engagement guidance framework and robust target-setting functionality into our platform to complement and underpin existing Supplier Collaboration and Innovation functionality, we are arming our customers with a powerful set of supplier engagement and sustainability tools to get started quickly on moving from measurement to action.”

To learn more about Vizibl’s SBTi Supplier Engagement Framework, visit www.vizibl.co/platform/sbti-supplier-engagement, watch it in action here, or schedule a demo here.

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About Vizibl

At Vizibl, we put collaboration, innovation and sustainability at the heart of supplier relationships. Our best-in-class digital platform enables enterprise organisations, and their suppliers, to manage every aspect of their relationship more effectively.

Whether it’s taking joint action towards ambitious sustainability targets, discovering new revenue streams, or developing innovative products and solutions, Vizibl aligns suppliers & partners around key business goals to deliver mutual value.

A CDP accredited service provider, Vizibl is recognised by the world’s leading analysts and trusted by giants of industry. The Vizibl platform connects buyers and businesses with their suppliers, on every continent, across the world.