Green Procurement: A Strategic Approach to Sustainable Business Practices
In today's world, where environmental sustainability is a growing concern, businesses and governments are seeking ways to minimize their ecological footprint. One significant strategy gaining traction is green procurement, effective strategy to stay ahead of upcoming laws and regulations.
Green procurement involves the acquisition of goods and services with a focus on reducing environmental impact throughout their life cycle. Unlike traditional procurement, which prioritizes cost, quality, and availability, green procurement integrates sustainability criteria such as energy efficiency, resource conservation, and waste reduction into purchasing decisions. We understand the importance of strategic alignment and effective governance in driving sustainable business practices. Therefore, BearingPoint leverages its wide expertise in the procurement sector to support businesses om their sustainability journey.
Relevancy
Green procurement is increasingly important since organizations strive to mitigate their environmental impact and align with global sustainability objectives. Did you know that 85% of emissions come from scope 3, mostly linked to purchased goods? By prioritizing eco-friendly products and services, green procurement directly influences an organization’s carbon footprint.
The European Union has set stringent sustainability targets under initiatives like the Corporate Sustainability Reporting Directive (CSRD) and Corportate Sustainable Due Dilligence Directive. These regulations push companies toward greener practices, including mandatory reporting on environmental performance and the integration of sustainable criteria into procurement processes. By adopting green procurement strategies, organizations not only comply with these regulations but also position themselves as leaders in the transition to a low-carbon economy.
Our green procurement approach
At BearingPoint, we have a proven approach to integrate sustainability into procurement without compromising operational efficiency. At first, we assess the feasibility of current ESG strategy and targets with key stakeholders in the organization. Next, we deep-dive into the existing purchasing policy. Finally, we support in improving the purchasing policy and monitoring the progress.
BearingPoint’s three-step approach has been proven successful across various industries. Read the articles below to explore different completed projects:
- Embedding Sustainability into the Supply Chain: A Case Study at Stedin
Imagine transforming your procurement processes to be both sustainable and more efficient. We’ve helped companies just like yours do it – and we’re eager to see how we can support your sustainability journey.
We would love to discuss how BearingPoint can help you make green procurement a competitive advantage. Get in contact with our teams to see how BearingPoint’s expertise can be applied at your organization!
Marc Bartels
Partner Operations