Utilizing Global Procurement in Gaining ESG Advantage
Each quarter, experts from our global procurement team meet to discuss things like trends, risks, regulations, and more as they relate to the MRO supply chain. From those discussions comes our quarterly Global Procurement Insights, a review of commodities and supply chain macro factors that could impact on the work our clients do. These include global economies, regional legislation, and banking, ESG, raw material updates and more.
It is part of our strategic approach to the MRO supply chain.
We cannot share everything in the report because it is intended for use by our clients and their procurement teams. But we can share some of it, specifically the great work our teams have accomplished in the area of Environmental, Social & Governance (ESG).
As part of RS Group, we continue to progress toward our 2030 ESG Action Plan goals. You can read more about that here. Among those goals is supplier evaluations against our high ethical and environmental standards.
We are challenging our suppliers, the entire supply chain really, to focus on areas that promote product diversification and inclusion while spurring new ideas and generating client value. Others are noticing our efforts, including:
o EcoVadis , which awarded RS with its coveted Platinum Sustainability rating for the second consecutive year
o S&P Global Global Sustainability Yearbook, inclusion in the listing for the first time, putting RS in the top 15% of companies
o Dow Jones Sustainability Indices listing
o MSCI ESG Rating of AA
So exactly how do our #ESG priorities support suppliers? By encouraging them to stay ahead of legislation, reduce operational costs, and generate new revenue streams from customers interested in purchasing greener products bought from responsible suppliers.
These ESG highlights and the other elements of the report are not just about navigating the complexities of the supply chain; it is about fostering a sustainable future.
We encourage our clients and suppliers to engage with these insights, talk to our team members and take advantage of the resources available through our ongoing initiatives. Together, we can build a resilient, responsible supply chain that meets today’s challenges while setting us up for a sustainable tomorrow.
Interested in outsourcing your MRO supply chain? Contact us for more information on how.
Managing Director at Flexilube Ltd. Father of 4, husband to 1. Loves Golf & Aston Villa. Official UK Distributor for Simalube
2moRemember when you’re after Simalube, Simatool & Simatherm to come to us, you keep buying from 3rd parties who buy from us, increasing yours and your customers costs.