Monitoring for the risks beyond primary suppliers is a tall order — just for the needed data inputs alone. Relying solely on supplier surveys for an accurate ESG assessment will likely fall short, since they only cover a moment in time. Here are key layers that form a comprehensive risk management approach:

Baseline measurements: You’ll want to assess the inherent level of risk across factors such as product, service, location analysis and raw materials — along with assessing the international relationships associated to the supplier. This also requires entity- and item-level visibility within the full supply chain.

Supplier inputs: Obtain supplier inputs through ESG-focused questionnaires for documentation, certifications and policy-provisioned evidence or attestations to protect your organization.

Open-source screening: Conduct comprehensive AI-powered open-source due diligence across multiple-language adverse media and watchlists to identify risk associated with the supplier and its extended ecosystem.

Continuous monitoring: Identify when the ESG risk associated with a supplier changes over time, so you can take corresponding action to protect your business.

These four layers make a good framework for ESG risk management in supply chains. But, of course, ESG is only one major category of supply chain risk that needs monitoring — along with others like FOCI (foreign ownership, control or influence), product, financial and cyber risks.