Despite corporate commitments to create a more responsible economy, global sustainability performance has remained mostly flat. Companies remain mostly stagnant around supply chain sustainability, says business ratings firm EcoVadis. Only 32 per cent of the businesses surveyed maintained diversity, discrimination and harassment measures such as effective whistleblowing procedures, awareness training and anti-discrimination recruitment tactics. Or to put it a little differently, 68 per cent of businesses have zero measures in place to promote equitable and inclusive workplaces.

The size of the company can shape the focus of its efforts. Larger companies, for instance, score higher on environmental and labor and human rights themes compared to smaller ones, which outperform them in corruption, anti-competition and data privacy. Globally, Europe leads the world in sustainability performance among large companies, followed by North America, Latin America and the Caribbean and, finally, Greater China.

Corporations proclaim their social and environmental bonafides but whether thoughts translate into deeds is another matter. Organizations need to more proactively engage with supply partners to identify and address hidden CSR risks. Left unmanaged, the deepest tiers of the supply chain can expose organizations, people and society to serious issues, including slavery, forced labor, dangerous working conditions, environmental waste, corruption and more.