Henkel has become the latest multinational to add an ESG component to its supply chain finance offer. Deutsche Bank, which funds Henkel's SCF programme, will link supplier early payments to ESG data provided by EcoVadis.
Speaking to Der Treasurer, Ulrich Borgstädt, head of group treasury at Henkel, said the ESG offer was being launched in Europe at first but could soon be rolled out globally. 'That's one of the reasons why we decided to link to Ecovadis,' he added, 'This rating is recognised globally and can therefore also be used in other regions.'
Deutsche Bank has adapted its systems to integrate the EcoVadis data and allow suppliers to be moved from one category to another 'with the click of a mouse', said Michael Dietz, head of trade finance flow at Deutsche Bank.
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