The mounting pressure on corporations to set and achieve ESG goals has brought sustainable sourcing practices to the forefront of procurement teams. With mandatory GHG reporting on the horizon, including Scope 3 emissions, time is of the essence to adopt sustainable sourcing practices. To achieve this, procurement professionals must develop a quality supplier data management system, identify high-impact spend categories, and craft category and supplier-specific strategies. Once these steps are in place, implementation and ongoing measurement are critical to the success and verification of progress toward a company’s ESG goals. By adopting ISG’s structure sustainable sourcing framework, CPOs can minimize the resources required to implement sustainable sourcing and help their business meet ESG goals cost-efficiently. While sustainable sourcing is a formidable challenge, a CPO’s success will be rewarded not only by supporting their organization meet ESG goals but with the fulfillment that comes from contributing to a more sustainable future.rnrn

We assist organizations in these areas:rnrnDevelop a Sustainability Strategy: Align operations with the company’s ESG goals, including achieving specific milestones like carbon neutrality by 2030. This involves synchronizing eco-friendly procurement practices with executive ESG commitments, ensuring responsible sourcing supports organizational targets.rnrnManage Supplier Data: Assess supply chain structure and consolidate vendor information. Evaluate suppliers’ sustainability practices using tools like Insight Sourcing Group’s dashboards, identifying adherence to standards.rnrnAssess Spend Categories & Build Opportunity Map: Establish priorities and conduct an initial GHG emissions evaluation by spend category. Analyze emissions and organizational influence to create an opportunity map for ethical and sustainable sourcing.rnrnDevelop Category-Specific Supplier Strategies: Identify high-priority spend categories in line with sustainability objectives. Clearly communicate policies related to environmental performance, labor practices, and human rights, ensuring alignment with procurement procedures.rnrnImplement Sustainable Sourcing & Evaluate Suppliers: Collaborate with suppliers on expectations, resources, and open communication. Consider ethical and sustainable guidelines in Requests for Proposals (RFPs) and Requests for Quotations (RFQs), along with traditional KPIs.rnrnMeasure and Assess Progress: Monitor eco-friendly procurement initiatives through KPIs, data gathering, and audits. Open communication and comprehensive reporting are key to conveying progress towards sustainability objectives and reflecting the impact on ESG performance.rnrn

Our suite of energy procurement and management services include rnwholesale and retail energy procurement, regulated rate optimization, rnbudgeting, peak load management, and data management