Background

Managing the supply chain sustainably means being concerned about environmental, ethical-social and economic-financial impacts and encouraging good governance practices through the entire life cycle of goods and services in order to enhance their long-term social, environmental and economic value.

Involvement and cooperation with suppliers in the company’s sustainability goals is a key element, since sharing common goals raises suppliers’ awareness of the company’s expectations in terms of commitments to be made in the protection and promotion of human rights and the impacts of the company’s activities on the environment, including by integrating these elements into the documentation governing the relationship between the parties (contract, code of conduct, etc.).

The importance and urgency in the management of this issue is evidenced by the ongoing regulatory evolution, in fact, the European Commission, as early as February 2022, presented its draft directive on supply chain compliance requirements: the Corporate Sustainability Due Diligence Directive (CSDD). It is noted that on June 1, 2023, the European Parliament adopted its own version of the CSDD, and it is expected that in the coming months the directive will be formalized by the EU and then adopted by the member states.

The role of Greenwich

Greenwich provides support to its clients to ensure that the supply chain is in line with corporate values, commitments and sustainability plans and relevant ESG regulations.

Specifically, Greenwich is able to:

• Conduct second-party audits of suppliers including site visits;
• Identify the suppliers most relevant to the Client, in terms of business continuity and environmental and social impact;
• Verify suppliers’ compliance with environmental, occupational health and safety regulations;
• Identify and assess the main ESG risks within the supply chain;
• Verify compliance with the Supplier Code of Conduct regarding environmental and social aspects;
• Establish policies and tools for monitoring suppliers’ sustainability performance;
• Develop and implement programs to engage the supply chain in its sustainability goals;
• Map the sustainable products offered by its supply chain;
• Collect environmental and social data for the purpose of integrating them into the Client’s Sustainability Report.

Benefits for customers

• Limitation and control of possible compliance violations;
• Reduction of business continuity risks;
• Preservation and enhancement of corporate image;
• Pursuit of the highest sustainability goals and positioning as a Leading Sustainability Company (click here ESG Strategic Assessment);
• Increasing the quality and reducing the environmental and social impact of its products;
• Increased satisfaction and loyalty of its customers.