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Kimberly Randle and Dr. Arne Geschke thought they'd found the missing link: a way for companies to track and report on the environmental, social, and governance (ESG) risks associated with their supply chains.
Their company, FairSupply, has done just that, and now it's been acquired by Squire Patton Boggs, reports the Wall Street Journal.
The Australian-based ESG tracking and reporting company will continue to operate under that name, but it will now be known as Squire Patton Boggs' FairSupply.
"This deal is instrumental to scaling that change," Randle says in a press release.
Randle and Geschke, a professor of industrial math and supply chain academic, came up with the idea for FairSupply after seeing their own companies struggle to meet environmental, social, and governance (ESG) reporting requirements, per the Journal.
"And while many companies have good intentions and want to prioritize ESG, the vast majority don't have access to the knowledge or tools to properly assess, understand, and make informed decisions to improve their ESG rating," Randle says.
"This deal is instrumental to scaling that change."
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Social Entrepreneurship
Spotlight
Social Entrepreneurship: The Right Balance of Doing Good and Doing Well
Social entrepreneur and co-founder of nonprofit Jolkona, Adnan Mahmud, discusses his definition of a successful social entrepreneur. He describes theĀ social entrepreneur as someone who has found the right balance between doing good while doing well.
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