Vlerick Business School has once again been awarded the bronze EcoVadis label for sustainability

David Veredas

By David Veredas

Professor of Financial Markets

02 December 2024

For the second year in a row, Vlerick Business School has been awarded a bronze EcoVadis quality label for its sustainability efforts. We are also the only business school in Belgium to earn this label. This achievement not only means that we are being true to our word when it comes to sustainability, it also shows we are striving for continuous improvement. 

web-insights-ecovadis-label-bronze-2024

EcoVadis is a global leader in sustainability ratings. Its aim is to give businesses insight into their achievements, encourage improvements and thereby promote a positive impact on the planet and society. Companies are rated based on 21 indicators divided into four themes: Environment, Labour and Human Rights, Ethics and Sustainable Procurement. Additionally, EcoVadis inspects these sustainability criteria at three levels of business: policy (25%), action and measures (40%) and reporting on results and evolution (35%).

In 2024, we both improved our overall score and made progress in three of the four themes evaluated,” says Professor David Veredas, Associate Dean of Sustainability. “Furthermore, we score considerably better for three themes than the average in the educational sector. Besides that, we are also doing very well at the action-related level of business. That’s not surprising, since entrepreneurial leadership is part of our DNA. In terms of policy and reporting, there is room for improvement. We do a lot, but we still don’t document it enough.”

We’ve made great progress in the environment theme thanks to our carbon footprint measurement, which was conducted for the first time in 2024. That report gives insight into our current emissions and how we can continue to reduce them. “We’ve already made considerable investments in the renovation of our buildings, including with insulation, LED lighting, renewable energy, and the use of rainwater or new devices that consume less,” says David Veredas. “For next year, we want to set up dashboards to quantify the effect of these–and future–measures more thoroughly. In 2025, we also want to optimise transport and international travel among our staff and participants in a sustainable way.

Just as for Environment, we score 70 out of 100 for Ethics. To calculate this, EcoVadis evaluated our IT system, particularly information and data security. Cybersecurity is very important to Vlerick, given that more and more contact happens online and we collect a lot of customer data. An external audit and a responsible disclosure policy with ethical hackers have allowed us to take significant steps and close possible gaps in the IT systems and website preventatively.

There are also plenty of measures planned for the future, David Veredas tells us. “For example, we have already added a sustainability addendum to our contracts with suppliers for the sustainable procurement theme, and we intend to roll that out even more widely and consider how we can join forces to achieve more. All the same, simply gaining a higher EcoVadis score is not a goal in itself for us; it’s more of a source of inspiration and a starting point for ongoing improvement. The analysis shows our strengths and weaknesses, and that is the basis for an action plan. The quality label enables us to take a critical look at our own organisation, but it’s also a way for us to show our customers objectively that we are strongly committed to sustainability. We walk the talk. Along with feedback from colleagues, customers and other stakeholders, the report allows us to take a great leap forward in our sustainability impact.”

Get in touch!

David Veredas

David Veredas

Professor and Associate Dean