Planning your path to profitable enterprise sustainability
Carsten Primdal
Sustainability & ESG Advisor. Modern Slavery Expert, Business Engagement, Risk identification, Mitigation and remediation Specialist.
A 2013 PricewaterhouseCoopers (“PwC”) report indicated that organizations with a clearly defined sustainability plan were three times more likely to experience increased revenues, reduced costs, and market share gains. Having a plan also assisted in maintaining focus throughout the company on both the sustainability goal and the financial bottom line. Study participants stated that keeping the plan handy made it easier to balance clean practices with appropriate expenses. The question for the C-Suite shifted from "what's the lowest cost?" to "what's the lowest sustainable cost?" When sustainability was routinely factored into the decision-making process, the decision itself became both a better business practice and a more defensible argument for board members and shareholders. A fully fleshed out plan will include details on how suppliers all through the chain will manage each aspect of their particular production processes, from the selection of environmentally sound materials to the use of appropriately compensated labour.
When your supply chains run through China, it is often hard to track these details, especially when the factories or suppliers are located sometimes thousands of kilometers away from your primary place of business. Cultural and language barriers also add to the confusion. As a supply chain consultant, I can help you identify the full extent of contributors to your supply chains so you can build a path to true enterprise-wide sustainability.
Don’t ignore your supply chain risks. Read the full blog here
You can also learn more on how to avoid some of the pitfalls that can occur in China in my book https://vantagecompliance.com/23-questions-to-ask-yourself-about-ethical-risks-in-your-supply-chain/ (Estimated 4 minutes duration, and with an instant result via email). .
You are also welcome to get in touch directly to get help to strengthen the sustainability practices of your Chinese supply chain. I can be reached at (+61) 413 089 020 or via email: [email protected]