Despite the United States government’s decision to withdraw from the Paris Agreement – an agreement that unites more than 190 countries to reduce rising global temperatures – many of the country’s government and business leaders remain dedicated to fighting climate change. Numerous leaders from states, cities, universities and businesses have pledged their commitment to the cause as part of the We Are Still In initiative.
At EcoVadis, we’re proud to count ourselves among those that are still in. Sustainability is not just about complying to regulations. Leveraging responsible business is how we make a better world where each of us can create a positive impact.
Ultimately, the announcement of the United States’ withdrawal may have actually accelerated corporate sustainability programs for many of the Global 500.
The reality: Companies of all sizes benefit when they make sustainability and corporate social responsibility top priorities. The 2017 HEC/EcoVadis Sustainable Procurement Barometer found that the top three drivers of sustainable procurement implementation are risk mitigation, brand reputation and compliance. In turn, companies that pursue sustainable initiatives often see improved brand protection, fewer supply chain disruptions, and social awareness that leads to increased consumer support. Sustainable procurement also directly impacts the bottom line, and 50 percent of sustainable procurement leaders experienced increased revenue from sustainability initiatives last year, representing a 33 percent increase over non-leaders.
Luckily, companies that invest in their suppliers’ sustainable practices – like Nestle or Johnson & Johnson – create a cascade effect that pushes other brands to do the same. Despite political roadblocks, the business world is catching on and realizing that sustainability is good for both business and the world. Companies that are already investing are poised to be ahead of the game in years to come and those that take part in initiatives like We Are Still In are unlikely to back down from the challenges that may arise.
Our core mission is to help improve the environmental and social practices of companies by leveraging the influence of global supply chains.That is why we have added our name to the list of businesses in the We Are Still In registry and will continue engaging ourselves to proactively fight climate change.
How can your company work toward slowing down climate change? Access our webinar with Andrew Winston, author of The Big Pivot on science-based targets and corporate climate action.
