Sustainable Procurement Barometer 2021
Source: “Sustainable Procurement Barometer 2021” by EcoVadis and the Value Chain Innovation Initiative
Over the past decade, businesses have been feeling the pressure to move toward more sustainable practices. With the effects of the COVID-19 pandemic, many were forced to re-examine their supply chains. The Sustainable Procurement Barometer 2021, developed by EcoVadis and the Value Chain Innovation Initiative at Stanford Graduate School of Business, provides a few key insights into why sustainable procurement is fundamental for success:
- Labor and human rights issues shape procurement strategy
- Procurement is now paying attention to diversity, racism, nondiscrimination, and equity
- Sustainable procurement proves key to supply chain resilience
- Sustainability performance is critical for revenue and growth
- Mid-sized companies are embracing sustainability
As we look into the future, we will begin to see more companies invest in the continual monitoring of sustainability in their supply chains. The relationship between resilience, revenue growth, and sustainable procurement is being recognized. To download the Sustainable Procurement Barometer and learn more, visit EcoVadis.
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