Embedding sustainability in procurement
As supply chains become more complex organisations must develop agile and resilient solutions to procure goods and services that meet the needs of today but are also designed to adapt to future opportunities and requirements.
Ricardo’s experts have been offering world-class sustainable procurement solutions for many years. Our knowledge and experience means we are perfectly placed to deliver flexible solutions that fit your needs and legal requirements helping you to drive evolutive, adaptable and sustainable procurement.
What is sustainable procurement?
Procurement is not only a powerful tool in driving down an organisation’s spend, increasing efficiencies and value derived from contracts, but also in delivering on sustainability policy areas such as net zero, economic regeneration and social value.
Sustainable procurement aims to adopt positive and ethical practices that will benefit the world and communities around us as well as your business.
The following elements should be considered in all purchasing decisions:
- Environment – resource availability and utilisation, pollution, conservation area, biodiversity, land management.
- Social – equality, diversity and inclusion, strengthening and empowering communities, community resilience and sustainability, human rights, anti-slavery, child protection.
- Economic – necessary resources, cost, quality, functionality.
Why is sustainable procurement a priority?
Value chain (Scope 3) emissions are on average 80-95% of an organisation’s emissions. A strong sustainable procurement strategy is a vital tool to tackle your Scope 3 emissions allowing you to secure sustainable goods, materials and services entering your organisation which may then reap further environmental benefits down your value chain such as reduced emissions, extended life of products and recyclability, all contributing to a more circular economy and demonstrating progress to your ESG commitments.
Ricardo can help you achieve sustainability in procurement
From analysis and review, through planning, to stakeholder engagement, training and implementation, our sustainable procurement offering is flexible. We can design a package that fits your current needs, is adaptive to future requirements and helps you to achieve your sustainability goals. Using our in-depth knowledge and considerable experience, our team will help you find and implement the right approach for your organisation.
Stages of support include:
- Evidence collection and sustainability assessment - We will work with you to evaluate and identify the areas of focus that will be the most appropriate to your context and objectives
- Supporting strategy and alignment - We will design flexible solutions that will enable you to drive your ESG priorities
- Implementation - We will support you in embedding sustainability within your procurement operations while remaining flexible
We can support you through any or all of the stages of your sustainable procurement journey as a targeted project or as part of a wider sustainability programme.