📌 Strengthen ESG commitment through voluntary reporting.
When companies voluntarily report their ESG activities, it leads to a more purpose-driven approach to sustainability due to a holistic view of ESG risks, their mitigating actions, and genuine commitment to sustainability (which can be communicated to the market).
📌 Improve collaboration among stakeholders across value chains.
A Company’s ESG responsibility extends to the performance of its suppliers. Supplies and external services can be exposed to significant risks, which needs to be addressed with a company’s risk management activities and mitigation. Through communication & clear ownership some of these risks can be addressed early in the process and more actively managed.
📌 Engage third-party services for gathering data and assessing social performance metrics.
Achieving complete end-to-end transparency can be a difficult task. But digital solutions from third-party companies offer businesses the means to access their suppliers’ ESG data and evaluate their risk profiles.
With customers and investors demanding more transparency, supply chain sustainability is a must.
As a management and technology consulting firm, Synvance guides businesses on their core transformational activities regarding their supply chain, from identification through business-as-usual.
