Question

How important is peer benchmarking when developing an ESG strategy?

Benchmarking against peers and understanding customer expectations are crucial to staying competitive. While companies rightly tailor initiatives to their own business model and maturity, knowing the ESG landscape of competitors enables better strategic alignment and addresses stakeholder demands more effectively. In the EcoVadis context this is doubly true: since medals are percentile-based, your position is literally defined relative to your peers.