Smitha Shetty, Regional Director, APAC, Achilles Information Limited, brings a unique perspective to the challenges and opportunities facing supply chain stakeholders in this rapidly evolving stainless steel market.

Achilles is known for its commitment to supply chain transparency and risk management. In the context of the stainless steel sector, how do you ensure that suppliers meet stringent ESG and sustainability requirements?

At Achilles, we understand the unique challenges and opportunities within the stainless steel sector. To ensure suppliers meet stringent ESG and sustainability requirements, we utilise a multi-pronged approach:

Robust Supplier Qualification: Our pre-qualification process includes thorough assessments of suppliers’ ESG policies, practices, and performance. We verify certifications, conduct audits, and leverage industry best practices to identify and mitigate risks.

Ongoing Monitoring and Verification: We maintain continuous communication and engagement with suppliers to monitor their progress and verify compliance. This includes regular updates on ESG performance, data collection, and third-party validation where necessary.

Collaboration and Capacity Building: We believe in empowering suppliers to achieve sustainable practices. We provide guidance, training resources, and tools to help them understand and meet ESG requirements, fostering continuous improvement.

With stainless steel being a key material in various industries, how does Achilles support companies in reducing carbon footprints while maintaining operational efficiency in the production and supply of stainless steel?

Achilles empowers organizations to achieve a harmonious balance between carbon footprint reduction and operational efficiency. Our ESG prequalification processes and data-driven insights enable companies to identify and partner with suppliers who prioritize sustainable practices such as energy efficiency, waste minimization, and innovative manufacturing. This fosters responsible sourcing and process optimization, allowing businesses to meet production targets without compromising their sustainability commitments.

Furthermore, our Achilles Carbon Reduce program, powered by Toitū Envirocare and accredited to ISO 14065 and ISO/IEC 17065, provides a comprehensive framework for organizations to measure, manage and report their carbon footprint with confidence. This program supports businesses in making informed decisions, taking meaningful action, and contributing to a greener future. Our track record of over 16 years in assisting clients with carbon footprint management has resulted in significant operational cost savings and enhanced brand reputation. By choosing Achilles as your ISO14065 accredited certifier, you ensure that your carbon claims withstand scrutiny, safeguarding your brand and reputation capital.

Supply chain due diligence is critical for maintaining integrity in sectors like stainless steel. Could you elaborate on how Achilles’ ESG rating system ensures compliance and accountability within the supply chain?

Achilles’ ESG rating system empowers buyers with a comprehensive, data-driven assessment of supplier performance across environmental, social, and governance dimensions. This facilitates informed decision-making, enabling buyers to select partners aligned with their sustainability goals and mitigate potential risks.

Furthermore, the system drives continuous improvement by tracking ESG performance over time and benchmarking against industry peers. This fosters accountability and encourages suppliers to proactively enhance their practices.

By promoting transparency and open communication, the rating system facilitates constructive dialogue between buyers and suppliers, creating a culture of collaboration and continuous improvement. This, in turn, contributes to a more sustainable and ethically sound supply chain ecosystem.

Achilles has developed an extensive prequalified supplier network. How do you see this benefiting stainless steel manufacturers and buyers who are increasingly focused on ethical sourcing and sustainability?

Achilles’ prequalified supplier network provides a distinct advantage for buying organizations, offering streamlined access to suppliers who have already undergone rigorous ESG vetting. Our unique Achilles Network model facilitates collaboration, enabling companies to share the responsibility and costs associated with comprehensive supply chain risk assessments and due diligence. This approach fosters greater transparency across the supply chain while empowering suppliers to address any identified issues and collectively raise standards for all stakeholders.

Traditional global supply chain risk management practices often suffer from inefficiencies and limitations. These include siloed efforts, duplicated assessments, lack of standardized evaluation formats, manual processes, and limited insights, all of which hinder effective benchmarking, monitoring, and compliance with audit and reporting requirements.

Achilles leverages the power of the network effect to address these challenges head-on. By promoting standardization and facilitating the secure sharing of non-sensitive, non-competitive information, we eliminate duplication, break down silos, and foster a collaborative environment. This streamlined approach not only reduces costs but also elevates standards across the entire supply chain, ensuring greater efficiency, transparency, and responsible sourcing practices.

The Achilles Sustainability Score provides benchmarking and improvement insights for suppliers. How do stainless steel suppliers use this tool to enhance transparency and meet global sustainability goals?

The Achilles Sustainability Score serves as a powerful tool for both buyers and suppliers, offering a comprehensive and transparent view of performance across critical areas like ESG, health and safety, cybersecurity, and financial stability.

For buyers, this data-driven score, developed and rigorously tested by Achilles’ experts, enables efficient assessment and proactive management of supply chain performance and risk. It provides insights into potential vulnerabilities, facilitating informed decision-making and supporting the selection of suppliers aligned with their sustainability goals.

For suppliers, the score acts as a valuable showcase of their sustainability credentials, enhancing their reputation and market positioning. Detailed feedback cards highlight strengths and weaknesses, enabling targeted improvement plans and a proactive approach to ESG management. The benchmarking feature allows suppliers to gauge their performance relative to peers, fostering a culture of continuous improvement and driving industry best practices.

Moreover, the Achilles Sustainability Score, along with our Carbon Management Module, forms a comprehensive view of ESG supply chain performance. It empowers businesses to transparently communicate their sustainability efforts to stakeholders, build trust, and position themselves as leaders in responsible production. By leveraging this tool, both buyers and suppliers can make informed decisions, drive positive change, and contribute to a more sustainable future.

As the stainless steel sector becomes more regulated with a focus on decarbonization, how does Achilles help companies align with frameworks like SBTi, CDP, and TCFD to achieve meaningful reductions in carbon emissions?

Achilles actively supports companies in their decarbonization journey by aligning them with crucial frameworks like SBTi, CDP, and TCFD. Our ESG evaluation and reporting tools seamlessly integrate these standards, providing guidance and resources to help businesses set science-based targets, track progress, and meet regulatory requirements.

Our flagship Carbon Reduce program, powered by Toitū Envirocare, stands out as a comprehensive solution for achieving significant carbon reductions. Accredited by the CDP and accepted in over 100 countries, it empowers businesses with science-based tools, documentation, and expert support to drive real progress towards net-zero.

Achilles’ commitment to credible verification is further solidified by our ISO 14065 accredited auditors, who ensure your carbon inventory aligns with international standards, enhancing your brand reputation and attracting environmentally conscious investors and customers.

For businesses at the early stages of their carbon journey, our user-friendly Carbon Calculator offers a cost-effective way to capture and share GHG emissions data, streamlining the transition from manual spreadsheets to a professional carbon management solution.

Whether you’re just starting or aiming for ambitious carbon reduction targets, Achilles provides the expertise and tools to guide your business towards a sustainable future.

With the rise of ESG regulations globally, how do you see the stainless steel industry adapting to the increasing demand for transparency and ethical practices, and what role does Achilles play in facilitating this transformation?

The stainless steel industry is undergoing a profound shift driven by escalating ESG regulations and a growing demand for transparency. Achilles is a catalyst in this transformation, equipping companies to navigate the complexities of the ESG landscape and embed sustainable practices into their core operations.

We provide a comprehensive suite of solutions, including robust ESG assessments, carbon footprint verification, and sustainability scoring, enabling companies to identify and mitigate risks, track progress, and benchmark against industry standards. Our collaborative network fosters knowledge-sharing and collective action, while our focus on transparency builds trust and fosters responsible practices across the stainless steel value chain.

By partnering with Achilles, stainless steel companies can proactively address ESG concerns, demonstrate their commitment to sustainability, and build a resilient and competitive future. We are more than just a service provider; we are a strategic partner committed to driving positive change in the industry.

Achilles’ Statement of Assurance enables businesses to demonstrate their ESG performance to stakeholders. How does this tool enhance confidence for stainless steel buyers, lenders, and other key stakeholders in the value chain?

The Achilles’ Statement of Limited Assurance empowers stainless steel businesses to showcase their ESG performance, fostering trust and credibility with stakeholders. This independent verification strengthens the borrower’s sustainability claims, eliminates greenwashing risks, and allows lenders to make informed financing decisions. By evaluating sustainability practices and identifying potential gaps, we proactively manage risks associated with sustainability-linked loans. Our assurance process ensures compliance with loan agreements and sustainability frameworks, fostering accurate and transparent reporting. With the Achilles Statement of Assurance, lenders and borrowers alike can confidently communicate their commitment to sustainability, attracting partners and unlocking new collaborative opportunities.