Making the supply chain more sustainable
Sustainability in supply chains is more than just a trend. Investing in and implementing sustainable practices can give an organization a competitive advantage, reduce carbon emissions, and improve strategic cost savings, among other benefits.
As the global mobility industry has a complex supply chain with many verticals and stakeholders, it is essential to have sustainability standards that can be universally defined and achieved.
The global relocation industry has a significant environmental impact. Finding ways to track and implement sustainability goals will play an increasingly vital role in reducing the industry’s carbon footprint in the years to come.
An effort to ensure the industry can do its fair share when it comes to sustainability and environmentally beneficial practices was launched on 6 September 2022 by six prominent global employee mobility associations, FIDI Global Alliance, EuRA, Canadian Employee Relocation Council, Worldwide ERC®, International Association of Movers, and Corporate Housing Professionals Association.
“To achieve greater environmental sustainability for the benefit of people around the world, close cooperation among employee mobility firms is fundamental,” said Lynn Shotwell, CEO of Worldwide ERC.
Through the campaign, which is called “Forging the Future on Sustainability,” companies and organizations in the global mobility industry will be able to implement and integrate sustainable practices.
In the press release, Tad Zurlinden, CEO of EuRA, said that stakeholders in the mobility supply chain are finding it increasingly difficult to understand and comply with sustainability requirements. Through this agreement, we hope to simplify the process across our industry, enabling meaningful actions and measurable results.”
Following an RFP process conducted by the six organizations, Deloitte was selected as the external contractor for the effort. Deloitte will contribute to setting the roadmap for global mobility sustainability and defining milestones.
Sustainability efforts extend beyond mobility companies. “The Enhancement and Standardization of Climate-Related Disclosures for Investors” is a proposed rule submitted by the Securities and Exchange Commission (SEC) in June 2022. In addition to informing regulators of its latest sustainability survey and its findings, Worldwide ERC requested that the SEC amend the proposed rule. In its request to the SEC, Worldwide ERC requested a global standardization of sustainability, a lowering of the threshold for small business reports, and sufficient implementation time between the final rule and reporting periods to ensure consistent best practices are implemented.
Sustainability initiatives are needed to reduce the impact of climate change, but they also benefit the workplace and work culture. It is more likely that environmentally friendly companies will attract and retain talent. An IBM study released this April revealed that 68% of respondents would accept employment offers from companies they consider to be environmentally sustainable. Furthermore, one third of respondents who had changed jobs in the past year accepted a lower salary to work for an environmentally sustainable or socially responsible company.
In addition to improving your organization’s sustainability, implementing sustainability policies will also increase customer or client trust. In a global study by Nielson, 66% of respondents said they would pay more for a product made by a socially responsible company. Over 50% said they were influenced by sustainability metrics like a company being environmentally friendly or natural or organic products.
Sustainability programs are beneficial to companies, their stakeholders, their clients, and their partners. Sustainability still has a long way to go, but the future looks bright for organizations and corporations.
Visit Worldwide ERC’s sustainability webpage for the latest global mobility and sustainability news, data, and program updates.
