Supply chain sustainability and responsible procurement are critical to making global goals local business by ensuring that the extension of a company’s operations, products and services can support the realities of our planet and better serve markets both today and in the future.
However, corporate supply chains are bigger and more complex than ever before. Open markets have enabled companies to source materials and outsource production to suppliers in developing and emerging economies. When done right, a global supply chain can deliver significant benefits to companies in the form of reduced costs and enhanced profitability and shareholder value. It can also contribute to much-needed economic and social development, resulting in higher standards of living for millions of people (learn more about the business case).
When supply chains are done wrong – by not taking into consideration the environmental, social and governance (ESG) performance of suppliers – companies leave themselves open to significant operational and reputational risks. Impacts on people and the environment can be substantial and severe.
See the Roadmap for Integrated Sustainability for further information on how different functions can be engaged in developing and implementing sustainability strategies within companies.
- Spotlight on Investor Relations (September 2016)
- Spotlight on Research & Development (November 2016)