Earlier this month, Sydney hosted a global meeting of sustainable procurement experts, business leaders and other stakeholders to discuss the current draft of the first international standard on sustainable procurement – ISO20400 – currently in the late stages of finalisation. The Global Compact Network Australia is represented on the Australian committee providing input into the standard.
Regardless of sector or size, businesses are increasingly aware of the impacts of their supply chains on human rights (including those of workers) and the environment. Many businesses are looking to address these impacts through sustainable procurement processes, which consider the environmental, social and economic costs of purchases made by an organisation.
ISO20400 will provide a guide and reference point for organisations in the public and private sector, including companies of all sizes, to integrate sustainability throughout their procurement policies and processes. The standard will cover a range of issues, including setting sustainability priorities, undertaking due diligence and managing risks, organising the procurement function towards sustainability, and managing supplier relationships.
The standard is scheduled for release in 2017. We will keep you updated on developments.