The importance of sustainable supply chains to unlock global decarbonization

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🗞️ Driving the news: In the wake of growing environmental concerns, the importance of sustainable supply chains has been underscored as a critical step towards achieving global decarbonization goals
• Businesses are urged to adopt sustainable practices across their supply chains to significantly reduce their carbon footprint and contribute to environmental sustainability

🔭 The context: Sustainable supply chains involve integrating ethical and environmentally responsible practices from sourcing materials to production, logistics, and recycling
• This approach is vital for reducing greenhouse gas emissions, as supply chains typically account for the majority of a company's carbon footprint
• Challenges such as obtaining data, setting sustainability targets, financial costs, and operational complexities hinder progress

🌍 Why it matters for the planet: Decarbonizing supply chains is crucial for mitigating climate change, as it can significantly reduce global emissions
• The World Economic Forum suggests that a substantial reduction in emissions is possible if major suppliers increase their renewable energy usage, highlighting the vast potential for impact through sustainable supply chain practices.

⏭️ What's next: Businesses are encouraged to adopt a proactive approach to supply chain sustainability by setting ambitious reduction targets, establishing rigorous procurement standards, collaborating with suppliers on emission reduction strategies, and leveraging sector-wide efforts to maximize impact and reduce costs of green solutions

💬 One quote: “This represents a strategic move that fosters shared responsibility in reducing emissions across the supply chain,” highlighting the collective effort required to achieve sustainable supply chain practices

📈 One stat: A typical company’s supply chain accounts for 80% of its GHG emissions and more than 90% of its air pollution impact, underscoring the significant opportunity for environmental improvement through sustainable supply chain management

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