Third Party Risk Management and Compliance Requirements for Chemical Companies

Chemical companies face daunting risk and compliance challenges. In addition to complying with broadly applicable regulations such as Anti-Bribery Anti-Corruption (ABAC), they must also adhere to Federal Occupational Safety and Health Administration (OSHA) Hazard Communication Standard (29 CFR 1910.1200), which requires chemical companies to issue accurate Material Safety Data Sheets (MSDS) for all the chemicals they produce. In addition, chemical companies are increasingly held to a high standard for corporate responsibility and environmental sustainability. To meet this standard, they must ensure their third parties practice corporate responsibility and environmental sustainability.

The Aravo Risk and Compliance Solution for Chemical Companies

Aravo Enterprise enables chemical companies to track and monitor third party compliance with all applicable corporate and environmental regulations, including ABAC regulations, Conflict Minerals regulations, SA 8000 and other corporate responsibility requirements, specifications for publication and maintenance of MSDS, and site-specific health and safety credentials. To provide comprehensive and rapid assessment of third parties, the Aravo platform provides detailed corporate social responsibility (CSR) scorecards through an integration with EcoVadis, the leading provider of easy-to-use CSR data to help companies monitor environmental, ethical, and social practices of third parties across 150 purchasing categories and 110 countries.

Aravo Risk & Compliance Solution Benefits for Chemical Companies

  • Streamline and harmonize data and processes across the third party and supply network for improved transparency, flexibility and agility
  • Eliminate risk silos and deliver a centralized ‘version of the truth’ for the extended enterprise
  • Increase third party transparency through Tier 1, 2 and beyond
  • Reduce complexity and third party administration costs
  • Expand third party networks and enter into new markets with confidence
  • Accelerate time to market
  • Reduce brand risk
  • Improve oversight with an always accessible audit trail
  • Expand to new use-cases as you harness the power of the flexible Aravo Enterprise platform

Regulations and Standards that impact Chemical companies

U.S. Foreign Corrupt Practices Act (FCPA)

Forbids bribing foreign officials and mandates transparent accounting practices.

UK Bribery Act

Covers British criminal laws related to bribery and establishes penalties including imprisonment, fines, and confiscation of property.


A definition of best practices for “the Registration, Evaluation, Authorization, and restriction of Chemicals”.

ISO 14001:2015

Sets out the criteria for an environmental management system applicable to any industry.

ISO 9001:2015

The international standard for quality management systems.

OSHA Hazard Communication Standard (29 CFR 1910.1200)

Requires chemical companies to issue accurate (MSDS) for all chemicals they produce.

Dodd-Frank Section 1502

Defines restrictions on the mining, transporting and commerce of Conflict Minerals, amongst many other regulations.