In the modern age, ESG framework is more crucial than ever. The world is in a constant state of flux due to the pandemic, climate change, and social awareness, which means consumers want to know their money is going to responsible businesses. Getting to grips with ESG is necessary to retain the public’s, stakeholders’, and investors' positive regard and secure the planet's longevity.
An increasing number of manufacturers want to employ recycled materials and make production processes more eco-friendly, which is encouraging. Only a united commitment to source-recycled materials in place of virgin raw materials during production processes will create a stable demand for greener products, and build the planet-saving circular economy we so desperately need.
Workplace digitalization and connectivity offer a differentiation strategy to manufacturers buffeted by the economic headwinds of recent years. While smart factories offer economic and competitive advantages, the planned benefits may fail to materialize due to a poorly implemented transition. The successful digitalization of a traditional factory requires attention to five important considerations.
Because supply chain emissions often dominate corporate carbon footprints, procurement is central to delivering on a company’s environmental, social and governance (ESG) agenda and ultimately on corporate net-zero pledges on emissions. Yet still too many companies fall short of being able to use procurement as a primary lever to reduce their own greenhouse gas emissions.
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