Sustainable Procurecon Europe 2022. CPOs are at the forefront of addressing the environmental impact of their organisations. By working to find the most sustainable suppliers, they can meet their own CSR and ESG objectives and ensure their firms are meeting their customers’ sustainability demands.
Beyond doing the Right thing, Sustainability Pays
Our recent ProcureCon Europe survey revealed 86% of respondents said their organisations commitment to sustainability has either increased or stayed the same since 2021. CPOs can reinvest these cost savings to help support their organisations growth and branding. Furthermore, ensuring that they meet ESG supply chain goals, their organisations can avoid penalties and reputational damage.
Realising the benefits of CSR and ESG
CSR is no longer an afterthought in procurement. It is a key consideration that is driving innovation and change, and CPOs are taking note.
When Unilever announced its procurement strategy would shift to become committed to ‘sustainable and regenerative sourcing’, they have saved over €1 billion since 2010. CSR and ESG not only offers CPOs an opportunity to clean up their supply chains, it also can save money for their organisations and boost customer relationships.
By signing up to the UN-backed Race to Zero Campaign, Rolls Royce has they pledged to tackle their supply chain emissions by working with strategic partners to adopt ‘circular’ business practices. This initiative has resulted in Rolls Royce cutting the number of raw materials being used in their supply chain and reducing their carbon footprint whilst ensuring a positive impact.
This is not fixed in sectors that produce physical goods alone. Citibank has demonstrated its commitment to sustainable and responsible procurement by instituting a resource management Supplier Diversity and Sustainability Program.
By fostering close working relationships with minority and women-led business development organisations, Citibank can further their CSR goals which can help encourage other firms in their sector to do so by providing a tried-and-tested blueprint for how it can be done.
Prioritising Supply Chains to Reduce Environmental Impact
CPOs need to ensure they are always looking deeper into their end-to-end supply chains to meet their current ESG targets. Here they can act to renew contracts with suppliers can prove they are using sustainably sourced materials and are keeping to strict CSR goals, such as avoiding child/forced labour.
However, smaller organisations that might not have implemented a sustainable procurement strategy yet, their CPOs can still play a big role by taking the initial steps to implement change. From setting out new procurement sustainability goals, to being more selective when choosing suppliers when renewing contract, there are several ways to factor in ESG in procurement.
CPOs should remain focussed on working directly with suppliers but there is a risk
They could find that prices for sustainable materials are inflated, hampering their efforts from the outset. To tackle this CPOs should be proactive, supporting supplier transparency and revamp sourcing strategies.
PROCURECON EUROPE
The Flagship Procurement Event to Benchmark Your Strategy with the World’s BIGGEST Companies
Be a Business Person in Procurement, Not a Procurement Person in the Business.
After two years of virtual learning and networking, it’s time to unite the industry in person again.
More than ever, procurement executives are driving the commercial stability of their organisations. Balancing digital innovations and sustainable initiatives against a backdrop of global instability and spiraling prices isn’t easy, but you’ve got this.
With inspirational keynotes, small-group interactive learning, fun networking events and hundreds of peers to connect with, we can’t wait to welcome you back to ProcureCon.
Only here will you discover how procurement leaders from Europe’s largest companies are:
– Innovating with suppliers to increase commercial opportunities
– Shoring up supply chains to ensure continuity of production
– Embedding sustainability at the core of what they do to drive permanent change
The Fun Stuff
Learn, network and have fun doing it! Join us in our drinks receptions at the end of days one and two. Enjoy cocktails & refreshments while networking with your industry colleagues but also making new connections.
4 Reasons Why ProcureCon Is the Leading Procurement Conference
1- No other event brings together so many CPOs and heads of procurement – open to all with no subscription constraints – allowing you to benchmark your procurement strategies with those ahead of the curve.
2- No other event unites so many leaders from the entire procurement community – turning Barcelona into the ultimate procurement networking hub
3- No other event offers a procurement focused agenda split across 3 comprehensive days. Built on 63 research interviews to ensure all your purchasing challenges and opportunities are addressed.
4- No other event gives you the biggest and best procurement focused speaker faculty in the business, featuring 60+ procurement leaders to ensure you walk away with practical insights from those leading the way
September 27-29 – Hyatt Regency Barcelona Tower, Spain
BYinnovation is Media Partner of ProcureCon Europe