Consumers and governing bodies are demanding that businesses become more sustainable. The seventh edition of the EcoVadis Business Sustainability Index shows that businesses are making progress, but there is still more work to be done.
SMEs are leading the way
Small and medium-sized enterprises (SMEs) are outperforming larger companies when it comes to sustainability. They are more agile and committed to responsible business practices, and they are able to progress at a faster rate.
European and North American companies are leading
Europe is the runaway leader in sustainability, followed by North America. However, North American companies are still lagging behind European companies on environmental impact.
The Finance, Legal, and Consulting sector is doing well
The Finance, Legal, and Consulting sector has the highest overall average sustainability score. This sector has also seen a significant increase in the number of Advanced performers.
There is an opportunity for improvement
There is still an opportunity for companies to improve their sustainability performance. By engaging in intelligent supply chain due diligence and risk management, companies can gain visibility into their suppliers’ sustainability and risk profiles. This will help them to take action to drive sustainable practices throughout their supplier base.
By implementing these strategies, companies can strengthen their sustainability performance, build resilient supply chains, and contribute to a more sustainable and responsible business ecosystem.
To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.
For more help with looking at supply chain options, contact Astute Electronics
