Tackling supply chain risk is a key driver in expanded EY and Thomson Reuters alliance

• Ernst & Young LLP (EY US) and Thomson Reuters will introduce a new suite of environmental, social and governance (ESG) tools to meet growing customer need for supply chain transparency and policy tracking.
• The ESG tools include an offering of ongoing supply chain due diligence, including addressing forced labor risk, and up-to-date content on the evolving landscape of ESG policies utilizing a green tax tracker.

Growing recognition of supply chain transparency as a key ESG indicator for businesses and governments, as well as a complex regulatory landscape, is driving a critical need for supply chain due diligence and regulation monitoring tools. Therefore, EY US and Thomson Reuters, a world leader in technology and data solutions, announce an expanded strategic alliance centered around helping drive sustainable growth and achieve compliance. The alliance leverages each organization’s capabilities, proprietary tools and market insights to help businesses and governments analyze, respond to hidden risks and extract greater value from their supply chains.

Andy Baldwin, EY Global Managing Partner – Client Service, says:

“Today’s ESG landscape is complex. Our alliance with Thomson Reuters not only deepens the trust and commitment between our two organizations but also addresses the ESG risk opportunities that are central to the growth strategies of customers. The ESG tools we have developed will help address critical business needs in the supply chain and regulatory space.”

Through this alliance, EY US and Thomson Reuters have developed new ESG tools, and will continue to develop more in the future. Solutions include supplier risk management service offering, and access to sustainability tax content. These solutions can support customers’ resounding need for both supply chain risk assessment and monitoring, coupled with providing greater insights on ESG-related regulations.

Supply Chain Risk Identification: This service offering provides insight-based actions to address global supply chain challenges by leveraging both EY US and Thomson Reuters data, technology and human experience. The solution delivers deep insights into supply chains, leading to the identification of ESG-related supply chain risks, such as increased supplier visibility and forced labor, while providing risk scoring and delivering ongoing monitoring to paint a broader picture of supply chain transparency.

The ESG “Green” Tax Framework: This research, analytics and data collection framework includes global tax laws, regulatory information, policy developments and industry insights across a global footprint. It provides a central location for known ESG tax obligations, credits and incentive scenario planning as well as a look over the horizon to policies being considered across the globe.

Steve Rubley, President, Government business at Thomson Reuters, says:

“In collaboration with EY US, Thomson Reuters is leading the way in leveraging innovative technology and unique analysis to create trusted ESG tools for our customers. By equipping professionals with information and insight, we can help them navigate today’s increasingly complex global environment, as well as enabling them to use data for good in tackling societal issues, such as forced labor in supply chains.”

For more information, visit ey.com/en_us/alliances/thomson-reuters.

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

About Thomson Reuters

Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world’s most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.

This news release has been issued by Ernst & Young LLP, a client-serving member firm of Ernst & Young Global Limited operating in the US.