Integrating Sustainable Procurement Strategies to Support Corporate Environmental, Social, and Governance (ESG) Goals

Authors: Kosalee Thameera Galkaduwa

DOI: https://doi.org/10.5281/zenodo.14508331

Short DOI: https://doi.org/g8v5kf

Country: USA

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Abstract: Sustainable procurement is the key to integrating an organization’s supply management with the company’s environmental, social, and governance goals. Thus this paper explores the ways through which procurement functions can incorporate ESG principles within ethical sourcing, supplier engagement, and green public procurement. Using examples like Walmart’s Project Gigaton and IKEA’s circular procurement model, the research shows much progress in emissions cuts, resource optimization, and compliance improvement. Based on the research outputs, the advantages of sustainable procurement include cost reduction and company environmental responsibility but barriers such as reliable supplier information and implementation costs still exist. These are important barriers that tools like blockchain and collaborative frameworks must address. The following are the recommendations for how different industries can adopt sustainable procurement and make improvements to the supplier relationship management process to support a company’s ESG goals.

Keywords: Sustainable Procurement, Esg Integration, Ethical Sourcing, Scope 3 Emissions, Supplier Transparency, Green Procurement Policies.

Paper Id: 231847

Published On: 2021-11-09

Published In: Volume 9, Issue 6, November-December 2021

Cite This: Integrating Sustainable Procurement Strategies to Support Corporate Environmental, Social, and Governance (ESG) Goals - Kosalee Thameera Galkaduwa - IJIRMPS Volume 9, Issue 6, November-December 2021. DOI 10.5281/zenodo.14508331

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