CSR and Procurement
At IMAS (International Manufacturers Association of Sustainability), we are pushing for a greener future for our children and theirs. Corporate Social Responsibility (CSR) is a fundamental element of a company’s ethos and strategic planning. With increasing consumer awareness, regulatory mandates, and the pressing challenges posed by climate change and social disparities, CSR’s role has never been more critical.
Why CSR Matters More Than Ever in 2024
In 2024, CSR significance is highlighted by several pivotal trends:
Consumer Expectations: Consumers are becoming increasingly conscious and demanding regarding the environmental and social footprints of their purchases. A 2023 study indicated that 73% of global consumers are likely to alter their consumption habits to lessen environmental impact.
Regulatory Pressures: More governments are tightening laws around environmental sustainability and social equity. For example, the EU’s Corporate Sustainability Reporting Directive (CSRD) now requires detailed disclosures of social and environmental impacts.
Investor Insights: There's a rising trend among investors to weigh environmental, social, and governance (ESG) factors heavily. A 2022 survey found that 85% of investors showed a keen interest in sustainable investments.
These dynamics underscore the necessity for business to embed CSR deeply into every aspect of their operations, including procurement.
Procurement’s importance in CSR
Procurement is integral to the supply chain and critical in reaching CSR objectives for sustainable manufacturers. Here’s how:
Ethical Sourcing: It is crucial to source from suppliers committed to ethical labour practices, avoiding any associations with child labour, forced labour, or other exploitative practices.
Sustainability: Procurement officers are tasked with sourcing environmentally friendly materials that help reduce the organisation's carbon footprint, such as recycled materials or energy-efficient technologies.
Supply Chain Diversity: Building a supply chain that includes minority-owned, women-owned, and small businesses promotes social responsibility and adds to operational resilience.
Transparency: Transparent procurement practices are essential in building trust among stakeholders, requiring clear communication about sourcing and supplier standards.
Ways IMAS (U.K) Limited Can Help Improve Your CSR Through Procurement
IMAS is positioned to support your organisation in enhancing its CSR strategies through the following initiatives:
Global Network Access: Our extensive worldwide network allows us to secure special deals and products that align with your CSR goals.
Diversified Supply Chain: We help diversify your supply chain, which supports various small and minority-owned businesses, boosting your CSR credentials and supply chain resilience.
Ethical Sourcing Commitment: We prioritise suppliers who adhere to strict ethical standards to ensure your products are responsibly sourced.
Sustainable Alternatives: We provide access to sustainable and eco-friendly alternatives that reduce environmental impacts.
Direct Trade: We work with manufacturers directly making sure you have direct full access, this makes sure you are not paying over the top because of a prolonged channel supply chain.
Integrating responsible procurement practices into your operations can significantly boost your CSR efforts. At IMAS (U.K) Limited, we're eager to partner with you to help you develop a more ethical, sustainable, and socially responsible supply chain.
Sign up as a buyer and tell us what you are looking to achieve and leverage our network to help you achieve your goals. For now, early adopters will have a free 24 month membership.
Join here: https://www.thisisimas.com/contact-8
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