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Socially Responsible Procurement - Corporate Social Responsibility in a supply chain context

Internationally, CSR is an increasingly important issue that is being specifically and systematically addressed by many companies – large and small. This is why international companies feature most prominently on global sustainability registers, such as the Global 100 Most Sustainable Corporations in the World (www.global100.org - Insurance Australia Limited and Westpac Banking Corporation were the only Australian companies to rate in the Top 100. Westpac also recently ranked highest in the CRI Australia survey. The UK featured most prominently).

Information about Socially Responsible Procurement - Corporate Social Responsibility in a supply chain context

In broad terms, CSR is about corporate behaviour, governance and transparency in key social, environmental and business areas. It’s about considering the broader impact of company actions on all stakeholders. It’s about ensuring that companies do business responsibly, take a leadership position in community and social issues relevant to its own business operations (including those of its supply network), and are transparent about their actions in these areas (‘The Business Case for Productive Diversity and its Relationship to Corporate Sustainability’ – Paper prepared by Positive Outcomes for the Department of Immigration and Multicultural and Indigenous Affairs, March 2002). 'Triple bottom line reporting' or 'the triple bottom line' says that a company needs to be responsible for not only its financial performance, but also its social and environmental performance.

Where CSR practices relate to procurement, CIPSA calls this “Socially Responsible Procurement” (SRP) - how best to achieve good social and environmental performance in the supply chain. A slightly newer concept to Australia, many of our own organisations (of various sizes) are beginning to realise the importance of addressing key SRP issues.

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