ESG performance and supply chain transparency are increasingly relevant factors for companies operating in complex, global value chains. Independent ESG ratings provide a structured framework to assess policies, processes and results across environmental, social, ethical and responsible sourcing practices, based on documented evidence.

Following a project launched with EcoVadis in 2024 to map and manage ESG risks across its supply chain, Aquafil was awarded the EcoVadis Platinum Medal in 2025, placing the Group in the top 1% of more than 150,000 companies assessed worldwide. The improved rating reflects progress in areas including climate and biodiversity risk assessment, supply chain ESG due diligence, sustainability reporting aligned with ESRS standards and gender equality certification.

These topics are further explored in the new episode of The Future is Circular. In this conversation, Giacomo Martino Belluzzo, Group ESG Specialist at Aquafil, discusses how ESG ratings work in practice and their role as tools to support transparency, risk management and continuous improvement across the value chain.

So, it’s a fact that ESG ratings are gaining major traction across industries. Aquafil has recently achieved a Platinum rating from EcoVadis, which is an outstanding milestone, so congratulations to you and the entire team. Let me ask you: what is driving the growing importance of independent ESG ratings for businesses today, and how do they create value in terms of competitiveness and decision-making?

“So, what you’re saying is absolutely true. Nowadays, we are seeing an increasingly urgent necessity for companies to participate in ESG ratings. And when you think about it, this is actually completely natural. Economic actors, especially investors, really love quantitative data for measuring corporate performance. And if it’s true, as we believe, that the sustainability dimension is gaining huge importance in market decisions, then that dimension, just like the economic and financial one, needs to be measured. The easiest and most immediate way to do that is often through an independent ESG rating.”

That’s absolutely true, and it naturally leads to the question of how these ESG assessments actually work, beyond the final score that we all see. So, could you walk us through the EcoVadis evaluation process? Which parameters are evaluated, and also, what were the most relevant actions the company took to strengthen its performance over time?

“So, generally speaking, the process for responding to a structured ESG rating can take well over a month, especially if it’s the first time you’re tackling it. In essence, the task is to answer a questionnaire and attach the relevant documents as evidence, noting the exact page where the information can be found. But retrieving that information isn’t instant, and in fact, it requires engaging numerous functions across the company.

On top of that, while we are evaluated against 400 quantitative and qualitative KPIs, the maximum number of documents EcoVadis allows us to upload is just 55. This means we have to be extremely careful and strategic about what we submit. And I must say, EcoVadis is particularly strict on the quality of documentation, but this is also exactly what makes this rating so reliable.

The parameters assessed are the three classics—E, S, and G—plus a fourth related to sustainable procurement. Over the past year, to improve our score, we’ve really focused on:
the quality of our sustainability reporting, specific actions related to climate change and biodiversity, achieving the gender equality certification at our Italian facilities, the ESG risk assessment of our supply chain.”

Thanks for this quite detailed overview. I think it really shows how much work there is behind what seems a simple score, right? Another question I have for you now is about supply chain due diligence, which is rapidly becoming a regulatory obligation. In your view, what is the most significant risk that rigorous monitoring through platforms such as EcoVadis can mitigate? And why is this approach more effective than relying solely on supplier self-assessment?

“Those are really good questions. You know, supplier self-assessment—having your partners just fill out a form—is often the very first thing a company does to get a handle on its supply chain. And look, that effort is absolutely commendable. However, that methodology often comes with several inherent weaknesses and blind spots. And that’s precisely why we made the strategic choice to lean on a recognized platform like EcoVadis.

This tool provides a consistently established approach, which is systematically built on the sharing of hard, documented evidence. And what does that give us? First thing first, it allows us to collect a genuinely objective and precise information about our partners. But perhaps more importantly, it lends much greater credibility and robustness to our own due diligence activities, especially when viewed by external observers. So, you can truly think of this move as applying a quality and reliability certification to our entire due diligence process itself. Let’s say that it just makes our work much stronger.”

I understand that the first phase of your supply chain assessment has already been completed successfully, I may add. But I know you’re already planning further projects to strengthen it. What’s Aquafil’s next major goal for improving your supplier’s ESG performance?

“Yeah, exactly. As you rightly pointed out, this is truly just the first step. The project started about a year ago, but the real value will be generated primarily in the medium to long term. Our core objective, beyond just achieving a specific rating, is to cover a large percentage of our total spend through EcoVadis assessments. This activity could then potentially be intensified in relation to portions of the supply chain that are particularly strategic for us. But, yeah, we’re still working through that, but I can say that we definitely have some exciting ideas in store.”

And I can’t wait to see those ideas in action, really. My last question for you is: looking ahead, what do you consider the single most critical priority for an established company to focus on? And what practical recommendation would you offer to organizations that are only beginning their journey toward stronger ESG transparency?

“As we mentioned, the involvement of the supply chain and, more broadly, the entire value chain is absolutely pivotal for the credibility of any company’s sustainability strategy today. After all, sustainability and circularity are simply not concepts you can tackle alone. They inherently exist within a wider system composed of many different actors. So, I would say that the biggest piece of advice I would give is this: look to surround yourself with partners who truly believe in your same core values. When you share that foundation, it becomes significantly easier to consolidate your strategy and make it truly resilient for the long haul.”