Studies show that companies who invest is sustainability practices earn a higher profit margin and outperformed their peers and that organizations who voluntarily announce carbon emission information tend to experience more significant stock price increases. In fact, sustainability considerations seem to drive or influence the buying decisions of many shoppers when they choose brands.
Consider the following:
As demand for sustainability transparency continues to grow, companies will require a higher degree of sophistication and detail around the data they gather and the information they report. It is in this spirit that EcoVadis, a leader in supply chain sustainability ratings, recently announced the winners of its second annual Sustainable Procurement Leadership Awards and Sustainability Leadership Awards.
The awards recognize companies partnering with EcoVadis that demonstrate sustainability and sustainable procurement excellence and are driving progress around the globe. The awards cover several categories, including stakeholder engagement, supplier engagement, supplier portfolio CSR performance improvement, program leadership, regional performance. Nominees were evaluated on strategy and approach, procurement integration, scale and coverage, and program results.
Listed below are winners of the Sustainable Procurement category of awards:
According to Pierre-Francois Thaler, co-CEO, EcoVadis, “As more organizations leverage supply chain sustainability for business growth, they raise their procurement practices to a new level. We have seen a strong increase in the quality of the applicants and our 2018 winners exemplify the leadership and execution in procurement required to make sustainability a strategic competitive business advantage.”
EcoVadis (www.ecovadis.com) is the first collaborative platform providing sustainability ratings and performance improvement tools for global supply chains. EcoVadis’ CSR ratings and scorecards are used by procurement teams to monitor environmental, social and ethical risks across 150 purchasing categories and 110 countries. In addition to RBI members, over 175 industry leaders such as Nestlé, GSK, Heineken, Michelin, Johnson & Johnson, Schneider Electric, Salesforce, BASF, JLL, and Subway use EcoVadis to reduce risk, drive innovation and foster transparency and trust among over 40,000 trading partners.