SUPPLIER CODE OF CONDUCT

The importance of an ethical and sustainable supply chain

In today’s global landscape, sustainability and corporate social responsibility (CSR) are key determinants of ethical and transparent business.

Ensuring a labour-standard supply chain is essential to ensure compliance with regulations on child labour, non-discrimination practices, health and safety, working conditions, working hours, remuneration, and right of association.

Companies must adopt a sound Environmental Policy and Business Ethics principles, ensuring that the entire supply chain respects high standards in terms of human rights, sustainability and business integrity. The importance and urgency in dealing with this issue is witnessed by the evolution of the EU Corporate Sustainability Due Diligence Directive (CSDD): the new directive requires companies to identify, prevent and, if necessary, mitigate negative practices in their operations throughout the supply chain.

Greenwich’s role in supply chain management

Greenwich provides support to its clients to verify that the supply chain is in line with the company’s values, commitments and sustainability plans. Drawing up a Supplier Code of Conduct involves the following steps:

• Preliminary reconnaissance of the company’s principles and values to define the strategic ESG objectives to be applied to the supply chain;
• Mapping of the supply chain in order to understand the type and size of suppliers and the main associated ethical, social, environmental and operational risks;
• Support for adequate dissemination and understanding of the Code of Conduct by the organisation’s internal stakeholders;
• Establishment of monitoring and control procedures to verify compliance with the Code of Conduct by suppliers who subscribe to it.
• Assistance in ESG data collection, providing analysis tools to manage environmental, social and governance risks in the supply chain.

Benefits for customers: why implement a Supplier Code of Conduct?

• Suppliers receive a clear definition of the ethical, sustainable and social working standards to be adopted by ensuring compliance with corporate guidelines;
• Strengthens corporate reputation and transparency towards customers
• Increases the competitiveness of the business globally.