Sustainable procurement is a very hot topic in the procurement industry at the moment. Organizations, particularly procurement professionals, are under increasing pressure to improve environmental, social, and governance (ESG) performance. In addition, big businesses and their stakeholders increasingly expect it from them. Elevating the role of sustainable procurement is crucially important and necessary in responding to these pressures. What the industry sees is that Chief Procurement Officers (CPOs) have now been tasked to lead the transformation of the function in a world where sustainable procurement is becoming the norm and not the exception. As such, investing in a sustainable procurement and sourcing strategy will protect and create value for an organization while helping it realize its ESG targets.
But while it is crucial for organizations to do good in our society, they also must generate returns for their shareholders. Therefore, corporations, investors, and c-level executives demand that potential business partners have a clearly defined ESG proposition before engaging. This protects an organization’s long-term success, and companies that actively promote environmental, social, and governance concerns are reaping the benefits.
The CIPS MENA Excellence in Procurement Awards is an occasion to celebrate the people adding to the function’s success. As an official sponsor, Cirtuo looks forward to seeing you at this year’s CIPS MENA Excellence in Procurement Awards in Dubai, UAE.
- Cirtuo
- April 13, 2023