The economic case for sustainability in business is open-and-shut, with increases in engaging stakeholders and employees, deeper brand loyalty, better innovation and efficiency, and more. Less apparent to businesses may be the process for sourcing materials and securing partners to form a more sustainable supply chain.

Challenges in the Supply Chain

Slavery

The environmental community and the food industry had been concerned about how to manage those fish stocks in a smart, effective way in order to sustain them over the long term. As CEO of Conservation International, I traveled with Walmart chairman Rob Walton to the South Pacific to explore and better understand the sustainability issues inherent to the fishing industry there. We had one question in mind: Did the seafood production carry a heavy carbon footprint, or was it sustainable?

Actions for Businesses of All Sizes

1. Set standards for sources and suppliers.

First, set high standards for your suppliers. For agricultural commodities such as soy, coffee, or beef look for certifications that the commodities were raised sustainably with the farmers having employed sound land-management practices. If certifications don’t exist, help your company set its own standard. Walmart, for example, thoroughly outlines its requirements to ensure that new or existing suppliers raise themselves to compliance. 

2. Track the supply chain using technology.

The push for greater transparency means more thoroughly mapped supply chains. The increasingly global movement of products makes verifying chain of custody murkier, yet more important, than ever. 

3. Forge partnerships with a common “why.”

Partnerships help sustainability initiatives flourish, so identify collaborators that share your motivations and commitment. If your goal centers on a long-term problem such as forest conservation or seafood sustainability, work with parties whose enlightened self-interest aligns. 

Strategic opportunities for progress can’t exist without your first having discerned a strategic necessity. The benefits you reap from this exploration — reduced environmental cost and impact, fresh partnerships, and better supply continuity — may help sustain your business’s fortunes long-term.

Source:Triple Pundit

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Picture credit to:Igor Ovsyannykov