August 01, 2023 | Supply Chain Strategy read
As we venture into a new era of corporate responsibility, sustainability has emerged as an essential facet of every business strategy, especially for the consumer packaged goods (CPG) industry.
The evolving regulatory landscape, shifting consumer preferences, and an overall societal shift towards environmental consciousness, are all driving this transformation.
July 24, 2023 | Oil and Gas read
Polluting fossil fuels have long been powering offshore oil and gas activities.
This is a significant cost for the oil and gas producer. One offshore platform can have up to 10 generators onboard to cover its power needs. These generators can require an investment of up to $25 million per year (for one year of operations and maintenance and a year of diesel).
July 05, 2023 | Supply Chain Software read
Although organizations know the importance of incorporating environmental, social, and governance (ESG) principles into the supply chain, many still struggle to achieve comprehensive ESG tracking and visibility.
To overcome these hurdles and improve visibility and traceability across the supply chain, companies need to embrace a strategic approach.
Organizations must venture upstream, downstream, and through the maze of suppliers and partners to achieve full visibility. However, this requires meticulous planning.
July 04, 2023 | Strategy read
Sustainability is increasingly becoming a key concern for businesses across industries and across the globe. As the world population continues to grow and resources become limited, businesses are realizing the need for a plan — to adopt and operationalize sustainable practices and innovative solutions to minimize their environmental impact. In the supply chain and procurement domain, sustainability innovation plays a key role in driving positive change.
July 03, 2023 | Supply Chain Strategy read
In a world increasingly concerned with climate change, managing your supply chain’s carbon footprint has become a crucial business necessity.
Given that supply chain emissions typically account for two-thirds of an average company's carbon emissions, maintaining a firm grip on these emissions is paramount for any robust carbon reduction strategy.
July 03, 2023 | Chemicals read
The chemical industry is responsible for 7% of all direct greenhouse gas emissions on a global level, according to an estimate. In fact, greenhouse gas emissions from the chemical and petrochemical industry are estimated to reach nearly 2.8 billion metric tons of carbon dioxide equivalents by 2030.
June 30, 2023 | Supply Chain Strategy read
Net-zero emissions, supply chain sustainability and supplier diversity are no longer optional objectives. Environmental, Social and Governance (ESG) and Corporate Social Responsibility (CSR) best practices now are the crux of successful business strategy. This is because companies want to proactively respond to the heightened sustainability expectations of consumers, investors, governments and employees.
June 23, 2023 | Supply Chain Strategy read
For supply chain leaders, ensuring that their organization has an external focus on scope 3 emissions from the supply chain ecosystem is key to making the most impact and not falling behind on their journey to net-zero emissions.
Yet, only 25% of organizations are making reducing supply chain emissions a top environmental priority, according to a survey of senior supply management executives by North Carolina State University (NCSU) and GEP.
June 19, 2023 | Supply Chain Strategy read
Many businesses are under the impression that implementing sustainability measures can be a costly affair. They believe that investing in sustainability is capital-intensive and can bring down their profit margins.
Not surprisingly, they are reluctant to go all out on sustainability despite the increasing pressure from governments, investors as well as consumers.
Contrary to the above mindset, investing in sustainability can yield high returns.
