It’s important to work together to ensure procurement is good for both business and the environment. While it is tricky, it can be done, says Cory Searcy
The world’s first international standard on sustainable procurement was released in April. ISO 20400 provides organisations with important guidance on their purchasing practices and policies. In addition to economic considerations, it underscores the need to address the environmental and social impacts of their purchasing decisions.
Sustainable procurement is part of a broader set of practices focused on building sustainable supply chains, which include other practices such as codes of conduct, audits and management systems. Reverse supply chain strategies, such as product end-of-life management, are also becoming common.