What is it?
The acquisition of products and services that have a reduced impact on the environment.
How does it work?
Green Procurement refers to the acquisition of products and services that have a minimal impact on the environment over their entire life cycle. This could include considerations such as how goods are produced, delivered, used, and disposed of.
When is it useful?
In a business context, Green Procurement is an important component of corporate social responsibility (CSR) and sustainability initiatives. It involves choosing suppliers and products that adhere to environmentally friendly practices. This might mean selecting products that are made from recycled materials, use less energy, produce fewer emissions, or are easier to recycle at the end of their life span.
Real-World Impact
A prominent example of Green Procurement is IKEA’s approach to sourcing its products. The global furniture retailer has committed to sourcing all of its wood from more sustainable sources by 2020. IKEA also works closely with suppliers to ensure they meet strict environmental standards, such as reducing waste and using energy-efficient manufacturing processes.
How to Get Started
Understanding Green Procurement can be beneficial for businesses using Empress’s suite of tools and services. Empress supports sustainable business practices and can help companies make more informed, environmentally friendly procurement decisions. This can enhance a company’s reputation, contribute to sustainability goals, and potentially result in cost savings over the long term.
Get the Empress Edge
Effective Green Procurement goes beyond simply buying green products. It involves evaluating the entire supply chain and making holistic decisions that take into account the environmental impact of each stage of a product’s life cycle. By doing so, businesses can not only reduce their environmental footprint but also drive innovation and create new opportunities for growth.