ESG and Procurement: why data is key

ESG

Sheri Hinish, Executive Partner and Offering Leader for IBM’s Sustainable Supply Chain, Finance and Circularity, gives her verdict on how technology is facilitating change across procurement so organisations can become more sustainable, which has become a significant priority.

ESG

Sustainability is a significant priority right now, across every enterprise and its entire operations, particularly with regards to procurement – representing a massive challenge, as well as numerous opportunities, to CPOs and CSCOs alike. And technology is enabling much of this dramatic change.

Technology is a force for good, helping organisations in key areas of their supply chains, such as responsible sourcing, risk management, calibrating SDG (sustainable development goals) ambitions with ESG (environmental, social and governance) action and green operations, while building intelligent supply chains for sustainable decision orchestration.

“IBM has been a steward in sustainability for over 50 years now,” IBM’s Sheri Hinish explains. “We also possess deep research through our Institute for Business Value (IBV) that marries the convergence of tech with ethical innovation to improve the world we share as well as the human condition. IBM works closely with the IBV, our ecosystem and how we protect the organisation’s social license to operate by creating resilient communities and impact through sourcing and procurement. These concerns are front of mind for CPOs and CSCOs right now.”
Sheri Hinish, IBM

Delivering ESG through Tech IBM’s partnership with the World Business Council for Sustainable Development (WBCSD) in Scope 3 emissions leverages its blockchain solutions to track, measure and report on net-zero commitments.

“Zero carbon is an interesting focus, as we’re actually seeing net-zero being challenged, particularly in agriculture and industry consumer packaged goods,” she explains. “However, having a regenerative and climate restorative mindset, while thinking about creating shared-value and equity are, in my opinion, just as vital to our planet’s needs when you imagine this through the lens of supplier engagement, particularly with diverse suppliers and SMBs, supplier development, sharing best practices, building a longer table in educating responsible partner sourcing, creating safe and supportive work environments, and fundamentally creating social impact through community building and investment. Social values of brands show up in supplier relationships, experience, access and development.”

ESG