EcoVadis SAS, world leader in business sustainability ratings for global supply chains, today announced it has committed to a $200m CVC Growth Partners II investment,representing one of the biggest investments in the ESG space to date and reflecting a shared long-term view of ESG’s relevance to business performance.
EcoVadis will leverage the funding to scale internationally and strengthen sustainability, fair labor standards, and ethics in supply chains for businesses and international trade.
Frédéric Trinel, co-founder and co-CEO of EcoVadis said,”The global network and reach of the CVC will play a critical role in helping us scale up and change the way companies operate.”
EcoVadis plans to leverage capital to grow globally, enter into new countries and continue investing in its technology platform, sustainability intelligence solutions and ranked company network. CVC reports more than 450 enterprises rely on EcoVadis’ ratings and platform to evaluate and improve environmental and social performance across their global supply chains.
This is the first investment from CVC Growth Partners’ second fund, which announced its final close late last year.
The transaction is expected to close in Q1 2020 following regulatory approvals.