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World Earth Day


5 Ways Sustainable Procurement

Can Save Our Planet! 


Every year, on April 22nd, we come together to celebrate Earth Day commemorating the birth of the modern environmental movement in 1970. Over the years, Earth Day has grown into a global event, engaging billions of people across 192 countries in a collective mission to protect our planet and create a better future.


While Sustainable Procurement is just one component of the broader picture, when integrated with environmental initiatives, it can play a substantial role in helping preserve our planet!



What Is Sustainable Procurement?

Sustainable procurement involves acquiring goods and services that offer the best value while minimizing environmental harm and benefiting the economy. In today's world, as businesses strive to positively impact the environment and society, adopting sustainable procurement practices has become a crucial part of any credible procurement strategy and an important consideration for customers, investors, and companies alike.


Sustainable Procurement Can Save The Planet!

According to a recent study, organizations that implement sustainable procurement practices can achieve a reduction of greenhouse gas emissions by up to 20%!  Here are five ways in which sustainable procurement practices can contribute to environmental conservation.


1.      Prioritizing Sustainable Suppliers

When Procurement teams prioritize suppliers who follow environmentally friendly practices, it drives demand for eco-friendly products and services.


2.      Collaborating to Foster Sustainability

Encouraging and collaborating for sustainable innovations and solutions can lead to a higher adoption rate of greener practices and an overall reduction in the environmental impact across the supply chain.


3.      Circular Economy Practices

By favouring suppliers aligned with circular economy principles, procurement teams can contribute towards overall waste reduction and conservation of natural resources while minimizing environmental degradation.




4.      Conducting Life Cycle Assessments

By assessing the environmental impact and outcome at each stage of procurement, teams can choose products and services with lower carbon emissions to reduce waste generation and improve end-of-life management.


5.      Data-Driven Decision-Making

By tracking key performance indicators related to sustainability, procurement teams can measure and monitor the environmental impact of suppliers, products, and services. They can then identify areas for improvement and drive continuous progress towards environmental conservation.


Making Sustainability Our Brand Identity

ESG, which stands for Environmental, Social, and Governance, represents three fundamental pillars in the ESG frameworks. These pillars encompass the key topic areas that companies are expected to report on.

The ESG Pillars serves as a framework for us to holistically assess and manage our impact on the environment, society, and corporate governance, fostering transparency, accountability, and long-term value creation.



1)      Environment

Environmental factors encompass an organization's impact on the environment. At Xcel Bespoke, we are committed to taking proactive measures to reduce emissions, minimize waste, and conserve water throughout our value chain. By actively working with stakeholders, we aim to make a positive difference in our environmental footprint



2)      Social

Social factors encompass how a company interacts with various stakeholders, including employees and community members. We are committed to promoting diversity, equity, and inclusion not only within our own business but also across our supplier network and the communities we operate in.



3)     Governance

Governance factors play a crucial role in ensuring a company operates ethically. At Xcel Bespoke, we are deeply committed to building resilient supply chains that promote sustainability and drive positive change. By working collaboratively with our stakeholders, we can collectively deliver on our shared Environmental, Social, and Governance (ESG) aspirations.


Our Partnerships

The ESG pillars serve as guiding beacons, shaping our decisions and driving our daily endeavours. Our Procurement Team works to uphold high-quality standards for the products and services. Therefore, our decision-making processes is guided by a steadfast dedication to minimizing our environmental footprint and contributing to the preservation and protection of resources.


Xcel Bespoke is a member of POPAI SUSTAIN which utilizes tools to assess the sustainability of the materials we use to make our products, in turn this helps us make informed decisions on design and material choices  .We also  prioritizes suppliers with Forest Stewardship Council (FSC) certification as an added assurance to clients that goods supplied are ethically and environmentally sourced.



Through our Global Freight company, we help drive our carbon offsets via every container that we ship. Through this program Xcel Bespoke is billed for a proportion of these costs, which goes directly towards helping evaluate forest carbon storage and growth.

 

Conclusion

As Earth Day approaches, it serves as a reminder that our planet requires more than just a single day of attention; it demands our ongoing commitment and action. It is a time to reflect on the shared responsibility we hold in nurturing a sustainable future!

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