Sustainable global sourcing, even with the Immediate concerns of Inflation and the Increased cost of living, remains Important to any business over the long term.
Overview
Sustainable global sourcing remains important for all companies’ supply chains, even though we are living through times of huge turmoil. The events of the past few years have brought huge changes to our lives due to the Pandemic, the war in Ukraine and both inflationary and recessionary pressures across global markets. These events have ushered in significant challenges for business, requiring both a short and medium term response.
However, many of the most severe, long term, risks facing Business are driven by environmental factors. Factors that were effecting us before Covid and still have the potential to pose a significant threat to long term business stability.
- Climate action failure
- Extreme weather events
- Biodiversity loss
The World Economic Forum’s global risk register is clear in their assessment of the global risks. Five of the top ten are linked to the environment.
Our commitments to Sustainable Sourcing
As a leading global sourcing company with offices in seven countries and over 20 nationalities working within our organisation, we have a very global outlook. As a team we have worked to align our business around a future where good business can be good for business.
“instead of simply trying to do less harm we should aim to do some good” Ellen MacArthur Foundation.
Our Vision is to deliver Growth with Purpose
A central part of our vision is to define our sustainability roadmap, identifying how we can play our part in the global challenges outlined by the World Economic Forum and the United Nations in their Sustainable Development goals.
Our roadmap to sustainable business is built upon two pillars
- Reducing our GHG emissions by 20%
- We will be a Zero accident in our business
- Development plans in place for all our colleagues
- % of profits invested in community project
- We will be a Zero accident in our business
- Development plans in place for all our colleagues
- % of profits invested in community projects
- We will support colleagues Volunteering days
Our Strategic Vision
Our sustainability plan is central to delivering our Vision and our Strategic Growth plan through to 2025. It is a bold ambition to better serve our clients, our partners, our colleagues and the local communities that we are both a part of as well as impact.
It reflects our combined ambition as a team of 250 colleagues across the World. To work for a business that has a strong and clearly defined ambition to deliver sourcing in the right way.
Unlocking the value for stakeholders in the extended supply chain, we recognise that only by working collaboratively with all our partners, clients, suppliers, colleagues, and local communities can we start to play our part in overcoming the global challenges we all face.
The Drive for More Sustainable Sourcing
We recognise the increased need to define, measure and take action on the impact of supply chains on sustainability targets.
As sourcing leaders continue to deal with the regular challenges of delivering quality and price within the context of global trade turmoil, they are increasingly having to wrestle with the increasing challenge of sustainability targets.
For companies of all sizes, serving all markets there are increasing questions from their customers, consumers and clients. Not just about the cost of their
products but of the environmental and societal cost and impact in the manufacturer and distribution.
Answering these questions requires a newer more unique set of skills to measure and define targets and to work with the full value chain to take effective action in a transparent way.
For most companies the central element of their environmental commitments will be to reduce their Greenhouse gas emissions (GHG) – particularly on the back of COP26 and Carbon Emissions. Scope 1 and Scope 2 emissions tend to be easier to get to grips with as there are fully within companies control.
At Scope 3 level the challenge becomes harder and simultaneously bigger. Many companies typically seeing 95% of their GHG emissions being created within scope 3.
Conclusion
Building a more sustainable supply chain for many organisations will start with emissions measurement. Creating successful interventions will require collaborations with like-minded partners throughout the value chain and the measurement tools to effectively identify emissions creation and hot spots.
The journey towards sustainable business is one built on partnership, transparency and shared goals.
Supporting Your Journey to Sustainable Sourcing
As a leading global sourcing company, with over twenty years’ experience supporting our clients develop and deliver their sourcing strategies. We are here to support you with all your sustainable business tracking needs. Emissions tracking, social and ethical audit.
For more, email us at Contact@et2cint.com.
