The challenges of reputation risk in today's world: International Convention on Sustainable Trade and Standards, 17 to 18 Sept. 2018
Last year I had the privilege of sharing my views on Strengthening multi-stakeholder sectoral initiatives and responsible sourcing decisions in agri-food value chains in September 2018 as part of the United Nations Forum on Sustainable Standards.
The moderator was Joseph WOZNIAK, Head, Trade for Sustainable Development program (T4SD), International Trade Centre and panelists included
1. Tarun BAJAJ, Executive Director, Agricultural and Processed Food Products Export Development Authority, India
2. Rajneesh KUMAR, SVP & Head Corporate Affairs, Walmart
3. Bhavna PRASAD, Director – Sustainable Business, World Wide Fund for Nature-India
4. Benz THOMAS, National Manager, BRCGS
5. Kamal Prakash SETH, Country Coordinator, Roundtable on Sustainable Palm Oil
6. Prashat PASTORE, General Manager - Sustainable Agriculture & Water, Solidaridad
My view was that Assurance is evolving beyond legality, quality and safety. It is now moving to non-physical risk that can harm the brand and organizations are seriously looking at it. This is adding to the sustainability quotient of a company.
I also shared that Reputational risk is transferable across the supply chain and can remain undetected and is more challenging to detect compared to product risk. Supply chain traceability can help take care of Reputational risk and we at BRCGS encourage brands and companies to look at their supply chain.
I also addressed an issue that kept coming up many times over in the other discussions – about the lack of transparency in Standard bodies. I sought to clarify that at BRCGS for each Standard, a draft is kept in the public domain for commenting. Anyone interested can comment and share their views on sections, the whole Standard or just individual clauses. The comments are sent to an expert committee which decides to implement the ones that are relevant. Also shared that we at BRCGS are working hard to create an Asia Advisory Board for support.
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