Safran, a leading aerospace company, has announced its participation in the International Aerospace Environmental Group's (IAEG) Supplier ESG Assessment Initiative.

This industry-wide programme, powered by EcoVadis, aims to improve sustainability practices throughout the aerospace supply chain.

Promoting Transparency and Responsible Practices

Launched in February 2023, the IAEG initiative leverages EcoVadis' expertise to create a common standard for assessing supplier performance in environmental, social, and governance (ESG) areas. This transparency helps companies identify and manage sustainability-related risks within their supply chains. Ultimately, the goal is to drive positive environmental and social change within the aerospace industry.

Safran's Commitment to Sustainability

"EcoVadis provides us with a robust and credible tool to evaluate our suppliers' performance on ESG criteria and better identify and manage the associated risks," says Marjolaine Grange, Safran's EVP of Production, Purchasing, and Performance. "This tool will positively contribute to achieving our primary objective: creating a more sustainable and robust supply chain."

Nathalie Stubler, Safran's Chief Sustainability Officer, adds: "The adoption of the EcoVadis solution represents a significant advancement for Safran in its CSR strategy which includes embodying a responsible industry with three commitments: uphold the highest ethical standards, strengthen responsible supply chain practices and respect the environment. This is done consistently with the strategy advocated by the IAEG for the aerospace and defense sector."

Benefits for Suppliers

By participating in this sector-wide initiative, suppliers will only need to complete one assessment, reducing redundancy and streamlining the process. This collaboration allows companies to benchmark their sustainability performance against industry standards, enabling informed decisions and improved sustainability reporting.

A Sustainable Future for Aerospace

"We are pleased to welcome Safran on this journey," says Annette Quincy, Director of Sector Initiatives at EcoVadis. "Through the IAEG Supplier ESG Assessment Initiative, members entrust EcoVadis as their common sustainability rating methodology and improvement platform so they can collaborate on, track, and promote a responsible supply base in their journey toward a more sustainable future.” 

For more investor-related news

Discover an extensive network of ESG providers here

Source: Safran