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Sustainable procurement or green procurement is a process whereby organizations meet their needs for goods, services, works and utilities in a way that achieves value for money on a life-cycle basis while addressing equity principles for sustainable development, therefore benefiting societies and the environment across time and geographies. [1]
The company has committed to making "great design available to everyone in a sustainable way." [33] To fulfill this commitment, the company is working to ensure that all raw materials used in their products are sourced in a responsible and sustainable manner. As of 2020, 64.5% of the materials used by the company's brand were recycled or ...
Sustainable procurement or green procurement is a process whereby organizations meet their needs for goods, services, works and utilities in a way that achieves value for money on a life-cycle basis while addressing equity principles for sustainable development, therefore benefiting societies and the environment across time and geographies. [39]
A sustainable sourcing strategy positions the company for increasing demands of higher disclosure and investor scrutiny, more environmentally focused consumers, and scarce resources. Sustainable procurement is a key concern for investors, through movements such as socially responsible investing.
Circular procurement is an approach to government procurement that enables private and public authorities to support a transition to a circular economy.This is done by purchasing works, goods, or services designed to create closed energy and material loops within supply chains while minimizing, or avoiding, the generation of waste and other negative factors on the environment.
ISO 20400:2017 Sustainable procurement — Guidance is a standard by the International Organization for Standardization (ISO) that provides guidance to organizations, independent of their activity or size, on integrating sustainability within procurement. [1]
A nonexhaustive list of GSCM criteria from D. Kannan et al. (2014) is given below. GSCM Criteria 1 “Commitment of senior management to GSCM” [6] “The support of senior management is crucial in GSCM adoption, as there will be an eventual need for process adjustments or cultural changes” [6]
Greening the Supply Chain: Sustainable procurement is important for any sustainability strategy as a company's impact on the environment is much bigger than the products that they consume. The B Corporation (certification) model is a good example of one that encourages companies to focus on this.