Reports

Key Actions & Governance

• Policies & Supplier Standards: CoolIT’s Vendor Code of Conduct, aligned with standards like SA8000, prohibits forced or child labour, requires proof of age, and obligates suppliers to comply or face termination.
• Due Diligence & Risk Management: Existing and prospective suppliers must complete a Supplier Qualification Questionnaire. Suppliers are scored across criteria—such as ESG risk, supply stability, and financial health—with mitigation plans for high-risk partners.
• 2024 Highlights:
  • Updated policies with stronger ESG language.
  • Conducted risk assessments and global trade analysis.
  • Achieved 100% employee completion of the Code of Conduct training.
  • Onboarded two new North American suppliers and identified zero incidents of forced or child labour

2025 Initiatives & Future Outlook

Building on evolving PSC guidance (November 2024), CoolIT’s 2025 agenda includes:

• Revising Master Supply Agreements, RFQs, and supplier questionnaires to strengthen audit rights and reporting.
• Extending risk assessments to Tier 2 suppliers and embedding updated geopolitical risk factors.
• Reinforcing audit and monitoring protocols, and exploring third-party verification for high-risk suppliers

Lastly, while no forced or child labour incidents were found in 2024, CoolIT has outlined a clear remediation protocol (investigation, corrective action plans, possible supplier termination, and authority notification if needed), underscoring its ongoing commitment to responsible global sourcing