ABOUT THE EVENT
The Council will be hosting its 9th Annual Sustainability Symposium on October 22, 2019. This half-day event will focus on sustainability in the supply chain, bringing together like-minded individuals from Fortune 500 companies, government agencies, academia, and business owners in order to discuss the importance of incorporating sustainability initiatives into supply chain business practices.
Corporations align themselves with suppliers who bring added value to their supply chain. Not only are corporations interested in partnering with diverse, innovative firms, but also those that are at the cutting-edge of making an impact on social and environmental performance. As a result, such criteria is weighed heavily when selecting a new supplier or choosing to maintain existing supplier relationships.
Why does a sustainable supplier matter? The article, Why Sustainable Supply Chains Make Business Sense, published in The Guardian, notes: “For any company relying on a global supply chain, the risks facing suppliers on a local level can have a domino effect until the damage is felt in boardrooms thousands of miles away. That could be having to raise prices, … or it could be reputational damage.” In addition, as it relates to investment corporations, the International Institute for Sustainable Development adds that, “From the fund manager’s point of view, SRI [socially responsible’ investment] can mean more than ‘screening out’ undesirable companies and ‘screening in’ those that are judged to be sustainable. Some more active fund managers have begun to play an ‘advocacy’ role, putting pressure on individual companies to improve their social and environmental performance.”