Further to my post last week about the need for suppliers to understand and comply with new environmental standards, today the Wall Street Journal reportedthat six of the worlds largest companies are forming the Supply Chain Leadership Coalition. The Coaliton’s mandate is to press suppliers to release data about carbon emissions and climate-change mitigation strategies. Clearly, large corporations now understand that addressing climate change has a measurable ROI in terms of saving costs in the short term, mitigating the risk of higher costs in the longer term as a result of new legislation, and increasing the brand value of being seen as environmentally responsible.
If your company is a supplier to a larger manufacturer or to the mass retail sector, you should consider engaging a reputable 3rd party to conduct a Sustainability Audit. The Association of Consulting Engineers of Canadacan connect you to a private sector consultant or you may want to consider contacting an ENGO (Environmental Non-Governmental Organization) that also offers consulting services in this area (e.g. The Pembina Institute Corporate Consulting Services). The results of a Sustainability Audit can be used to reduce operating costs, strengthen relationships with key customers, and increase differentiation from competitors.