In an era where Environmental, Social, and Governance (ESG) considerations are at the forefront of corporate responsibility, public procurement companies are making substantial efforts to align sourcing processes with sustainability goals. These commitments not only reflect a conscientious approach to business but also address the growing demands of supplier partners, customers, and the public sector for responsible and ethical practices.
Emphasizing ESG in Our Strategic Sourcing Process
At OECM, we are intensifying our focus on ESG as an integral component of our strategic sourcing process. As a leading sourcing partner for the public sector, our choices are impactful, and even the smallest positive change can have a long-lasting effect. It’s fundamental that our business practices reflect our values and corporate goals.
Social and environmental factors have become increasingly important considerations in our evaluation criteria in recent agreements. For instance, we focused on sustainable providers in our Courier Services agreement and mandated recyclable materials and options in agreements such as Print Products and Related Services and Graduation Gown Regalia and Related Services.
By amplifying our focus on ESG in our procurement process and evaluating how our supplier partners embrace these principles, we aim to foster a public procurement ecosystem that drives positive change and a socially and environmentally sustainable future.
Strengthening OECM Supplier Partnerships through ESG
Our ESG commitment extends beyond our organization — it’s an invitation for our supplier partners to meet growing demands for sustainability, mitigate risks, reduce cost, improve efficiency, and enhance resilience to any unforeseeable disruptions.
- Growing Demand for Sustainability: As consumers and businesses increasingly prioritize sustainability, there is a growing demand for products and services from environmentally and socially responsible suppliers. Embracing ESG principles can elevate the reputations of our supplier partners and differentiate our suppliers in the crowded market.
- Mitigating Risks: ESG practices can help our supplier partners mitigate various risks, including any potential regulatory, operational, and reputational risks. Supplier Partners are better equipped to comply with regulations, avoid fines or penalties, and prevent environmental incidents that could disrupt operations or damage brand reputations.
- Cost Savings and Efficiency: Many ESG initiatives such as energy efficiency measures, waste reduction, and sustainability practices, can result in cost savings opportunities for our supplier partners. By optimizing resource use, reducing waste, and improving operational efficiency, our supplier partners can lower their production and service costs and improve their bottom line.
OECM’s ESG Journey
OECM has already made significant strides in our ESG journey. We have successfully established a strategic framework, performed a gap analysis on our governance practices, identified crucial metrics and proposed targets, and strategized ways to integrate ESG into our work.
In addition to collaborating with supplier partners to reduce their carbon footprint, OECM will prioritize ESG practices through other initiatives like partnering with organizations dedicated to sustainability, engaging in community fundraising, and supporting social and Indigenous enterprises.
