Sustainable procurement is a business practice of integrating the aforementioned principles of environmental, social, and governance into procurement and decision-making processes. In this newsletter, we'll explore why sustainable procurement matters and how to implement environmental and social responsibility in your organization's workflow. In addition, strong ESG credentials drive down costs by 5-10%, as these companies focus on operational efficiency and waste reduction. It's no secret that nowadays customers want to know where the products they purchase come from and what they are made of, business partners want to work with reputable organizations, and employees tend to seek jobs with safe and comfortable working conditions.Īccording to McKinsey's research, top ESG (environmental, social, and governance) performers enjoy faster growth and 10-20% higher valuations than other players in their sector. As the world continues to shift toward sustainability and responsible buying, it becomes increasingly important for businesses to align their procurement strategies with the evolving values of shareholders, customers, and employees for the sake of business longevity.

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