“ Transparency does not only help businesses ensure they are on track to meet sustainability targets , it also provides a strategic benefit over competitors ”
ALEX SARIC SMART PROCUREMENT EXPERT ,
IVALUA potential customers and partnerships . “ The better and more refined your data , and the more that your stakeholders trust your data , the more likely they are to regard you as a transparent and trustworthy business partner – and a preferred supplier or vendor in your own right ,” he says .
The route to transparency There is plenty of advice available to help businesses improve the transparency of their sustainability operations , but much of it follows two themes of making sure the business is fit for purpose in terms of having processes and technology in place to handle the required data , and having strong communications with their suppliers and partners .
This may lead to difficult decisions with partners who aren ’ t hitting the required reporting standards , says Saric .
“ Firms must also ensure they are continuously communicating with and assessing suppliers on their environmental impact . This will help evaluate their emissions progress across the supply chain , while also driving continuous improvement by either collaborating with suppliers to reduce emissions or swapping out suppliers with substandard performance .”
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