At the turn of the millennium, sustainability was a relatively fringe idea. Almost 20 years later it exerts a growing influence over decision making at every level of society. Consumers increasingly want the the goods and services they purchase and companies they do business with to be taking visible and accountable steps to reduce the negative impacts of their operations and contribute positively to society.
It’s not just consumers demanding action on sustainability. Governments, industry bodies and regulators are increasingly requiring companies to report their carbon emissions as part of their annual reporting and setting ambitious reduction targets.
The UK government’s Committee on Climate Change wants the country to legislate for a net-zero emissions goal by 2050, while the International Maritime Organisation wants to reduce global freight greenhouse gas (GHG) emissions by 50% by 2050. New regulations have also been introduced to require policies on Modern Slavery for companies with turnover greater than £36 million.
Norway determined contribution under the Paris Agreement is to reduce their emissions by at least 40% compared to 1990 levels by 2030, and The Council of Ministers in Spain have committed to achieve up to 42% consumption of renewable energies out of the total energy use by 2030. This will allow Spain to reduce its energy dependence by 15%, from 74% at present to 59%.
Embedding sustainable procurement practices in your supply chain
Sustainable procurement requires a high degree of transparency and accountability between buyers and suppliers. In 2012, the Olympic park was ahead of its time with it’s environmental and social impact. Today, sustainability has become more of a standard practice at the heart of supply chain management.
Download our eBook to understand and implement sustainability into your procurement strategies as a growth solution, learn how to take sustainability within your supply chain to the next level and drive innovation and reduce emissions and increase efficiency.