[UPDATED July 2023:]
The 2023 Sustainable Procurement Barometer is now Launching
The 2021 Barometer study is still available for viewing and download above - but we take this opportunity to announce a new version of this research is kicking off now.
Conducted every two years, the goal of the Sustainable Procurement Barometer is to benchmark practices, and uncover insights and success factors in an effort to to help purchasing teams to optimize strategy and accelerate SP programs to the next level.
To start this research, we need your help: We invite you - or the appropriate person from your organization - to provide your input through a 15 minute survey:
What’s new in 2023:
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We are thrilled to partner with Accenture for this 2023 edition. Together we have enriched the diagnostic and research framework, aiming to uncover even more critical insights on how practitioners are tackling key challenges, and shifting focus, investments, and strategies.
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This 2023 study dives deeper than previous editions on topics like integration of sustainability/ESG across the full P2P workflow, how it fits in overall digitization strategy, priorities for your team’s skills and training, and other critical factors.
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Only participants will receive the study output customized with your responses alongside the benchmarks
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We are also adding selected industry benchmarks -- sample size permitting, so complete the input survey now and make sure your industry is represented! Report to publish in November.
**** End Update. Continue reading for highlights on the 2021 edition ****
2021 Report: From Resilience to Opportunity - Sustainability Pays Off Through the Crisis and Beyond
Despite the fears that it would negatively impact sustainability progress, the COVID-19 pandemic has consolidated corporate sustainability goals at the top of the executive agenda. Sustainable Procurement Barometer 2021, developed jointly by EcoVadis and the Value Chain Innovation Initiative at Stanford Graduate School of Business, provides critical insights into the growing recognition that sustainable procurement is fundamental to building resilience throughout organizations and supply chains, mitigating risk and driving results.
Key findings from the 2021 report include:
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Labor and human rights issues shape procurement strategy. In order, procurement organizations are prioritizing labor and human rights issues, followed by the environment, social issues, and business ethics, in their two – three-year strategies.
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Procurement is now paying attention to diversity, racism, nondiscrimination, and equity. 61% of procurement leaders say social issues will be “more important” or “significantly more important” over the next two to three years.
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Sustainable procurement proves key to supply chain resilience. 63% of corporate respondents, and 71% of supplier respondents, report that their sustainable procurement initiative helped them endure the COVID-19 pandemic.
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Sustainability performance is critical for revenue and growth. 69% of respondents are taking sustainability performance into consideration when selecting new suppliers and renewing contracts – up from 51% in 2019.
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Mid-sized companies (from $100M to $1Bn in revenue) are embracing sustainability. 48% believe sustainability will have a net positive financial impact on their business, while 47% expect a sustainable approach to lead to improved operational efficiency and lower costs.
