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Sustainable and Ethical Procurement

What is Sustainable and Ethical Procurement?

Sustainable and Ethical Procurement is one out of the five ‘Commerce’ parameters within the Weeva 360 framework. The parameter focuses on the promotion of intentional decisions that help ensure positive consumer, supplier, economic and environmental outcomes with regards to all procurement and across the entire supply chain. It seeks to identify and realise opportunities to support local, diverse and responsible businesses within the sector.

Reference Source: Sustainable and Ethical Procurement Educational Guide

Why is Sustainable and Ethical Procurement important?

Today people around the globe are more connected than ever, international travel is on the rise, and goods and services produced in one part of the world are increasingly available globally. This has led towards increased critical conversations around the social and environmental dimensions of sourcing of goods and services. Consumers are increasingly concerned with how and where products are produced; these considerations include questions that seek to understand how the product or service is sourced (raw material acquisition), produced and packaged (production and manufacturing), and how it reaches the intended destination (transportation) as well as its end of life (disposal). Sustainable and ethical procurement aims to minimise environmental and social risks associated with the purchasing of goods and services. Sustainable and Ethical Procurement essentially considers the true cost of procuring a product by taking into account the social, economic and environmental impacts of procuring a product or a service. These considerations are increasingly becoming important to organisations and consumers as it assists in making decisions that protect and promote local communities, protect and preserve environments, and promotes a healthy economy.

Reference Source: Sustainable and Ethical Procurement Educational Guide

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