Procurement Magazine July 2022 | Page 124

SUSTAINABILITY
What has been driving the demand for more responsible sourcing ? The real answer is that there is no single factor ; the spotlight on this problem comes from multiple angles .
“ Shoppers are more heavily scrutinising the source of the goods they buy and expect manufacturers to provide the answers ,” says Laverentz .
“ According to one recent study from Mastercard , 58 % of consumers say they have grown more conscious about their impact on the environment since the pandemic . A quarter said they ’ d refuse to shop with an organisation that couldn ’ t back up ethical claims with sound evidence . This scrutiny is echoed in a new generation of younger consumers who are more environmentally and socially conscious than ever before .
“ Banks and financial institutions are also rolling out programmes that reward more ESG-driven businesses and are creating barriers to access capital for businesses that fail to show evidence of responsible sourcing practices , as well as increasing regulatory scrutiny over sourcing practices . Regulation will help to accelerate the transition towards a more digitally-connected supply chain
124 July 2022