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“One of my joys in the startup journey has been the opportunity to work with amazing women in the sustainability and venture capital space. I am a female founder and CEO. Our board is majority female. One of our newest board members said we’re making history upon joining our board,”
With the knowledge and insights of experienced industry pioneers, FairSupply was incorporated in 2019 to offer commercial and institutional customers unrivalled visibility over ESG risk along their entire supply chain. Today, it has emerged as a fast-growing, cutting-edge global ESG data provider and consultancy, working through the world-leading proprietary technology under the leadership of Kimberly Randle. The singular vision of FairSupply is to see markets mobilised to achieve sustainable development goals. By enabling ethical investing choices through unparalleled global supply chain openness and knowledge, they aim to see that happen.
The human rights lawyer and tech founder
Kimberly Randle, FairSupply’s co-founder and CEO, is an experienced and creative human rights advocate with a focus on modern slavery. Kimberly previously served as Senior Director of Corporate and Legal for International Justice Mission Australia and has more than 15 years of experience working in law and human rights for prestigious firms in Australia and the United States. In the area of contemporary slavery, Kimberly is a well-known specialist and speaker who has been asked to present testimony for both the NSW and Commonwealth Parliamentary Inquiries into Human Trafficking. Kim graduated with a law degree from Macquarie University.
Kimberly established her own law practice in 2019 with the goal of helping businesses comply with Australia’s Modern Slavery Act. She discovered via her study that many companies had little awareness of slavery in their supply chains. In order to assist businesses in identifying and addressing the risk of slavery in their supply networks, she collaborated with industrial mathematician Dr. Arne Geschke to develop a supply chain visibility app. Major Australian corporations are now able to examine the effects of their expenditure and investments on people and the environment and make adjustments to improve their operations thanks to the ESG risk assessments they receive from these organisations.
The Creative & Innovative Work Culture of FairSupply
FairSupply brings together a diverse group of world-leading experts united by a desire for sustainability and a belief that rigorous analytics of objective data is essential to ESG transparency.
FairSupply is a scaleup. Its core drive is to employ the brightest, most inventive, and most creative minds to solve global issues. Their primary motivation and opportunity form the basis of their method of operation. Because they are acutely aware of who their primary stakeholders are the planet and its people courage and humility continue to be hallmarks of the workplace.
Kimberly shared when asked about her thoughts on diversity and inclusion in the workplace.
The Comprehensive Process to Assess ESG Risk in a Supply Chain
The entire supply chain is evaluated for ESG risk using FairSupply’s patented technology. Here’s how :-
Step 1: Uploading Data
Users upload their spend information or their investment portfolio information, which may include listed stocks, private stocks, infrastructure investments, or government bonds.
Step 2: ESG Risk Assessment
To identify the risk areas unbiasedly, the team analyses the user data using a unique technology that links data on global trade flows with international standards.
Step 3: Present an Interactive Dashboard
It enables users to determine the sections of their portfolio that pose the most significant risk by supplier or investment, nation, and industry.
Step 4: Determine the Areas of Risk
The interactive system provided by the company lets you set risk thresholds and parameters and choose areas for detailed risk analysis.
Step 5: Provides Self-Assessment Questionnaires
You can access audit reports and custom supplier questionnaires from your dashboard.
FairSupply’s USPs – Riding High on Success
Great ESG data is essential to any effort to fix our planet. Yet ESG data is relatively new, debated, largely unregulated. Typically, competitors’ ESG data are plagued with issues relating to depth and subjectivity. Company supply chains are often where negative impacts upon the environment and human rights are heaviest. For instance, Tier 3 and Tier 4 of a supply chain are usually where modern slavery danger is most significant. Competitors frequently use self-reporting at the level of tier 1 suppliers to calculate risk. In contrast, FairSupply uses sophisticated mathematics to provide awareness of ESG concerns that extend past layer 10 of a supply chain. They employ unbiased data that comes from the most reliable resources, including national accounts and UN statistical agencies.
Milestones & Achievements along the Way
“I am incredibly proud of what the FairSupply team has achieved. Our team has introduced two firsts to the market: footprinting for modern slavery and footprinting for extinction risk. This is empowering businesses with extraordinary clout to take actions that safeguard both human rights and the environment. The company’s product and ambition were strongly affirmed by our most recent $6.3 million Series A investment, which was headed by Airtree and included Tidal, Minderoo Foundation, and QIC“, Kimberly shared while talking about her major accomplishments.
An Exciting Future Ahead forFairSupply
The worldwide regulatory landscape for ESG reporting is evolving so swiftly. A superb platform created by Kimberly and her colleagues will be crucial in supplying businesses and investors with the in-depth, unbiased data they rightfully demand. The goal is to scale up. They want to empower as many organisations as they can to make wise decisions for the planet and its inhabitants. Overall it resulted in better product development and increased revenue generation.
