When your company begins to consider the Greening of the Supply Chain: Mind your Three P?s.
When your company begins to consider the Greening of the Supply Chain: Mind your Three P?s.
What does it mean to go Green? I was reading the Aberdeen white paper Building a Green Supply Chain from March of last year and believe they may in a concise format have the best glossary of definitions as to the meaning of and impact on what it means to be Green. Their short but effective green glossary defines the following terms.
1. Corporate Social Responsibility (CSR) posits that companies have a responsibility to be social and environmental stewards and that having a positive impact on society and the planet is as important as profit.
2. Green refers to practices, processes and products that have a minimal impact on the health of the ecosystem. The emphasis is on non hazardous recyclable, reusable, and energy efficient products and processes.
3. Sustainability ensures the ability to meet present needs and profits, today, without compromising the ability to meet them tomorrow.
4. Triple Bottom Line (TBL) determines that business has positive impacts on the three P?s: people, profit and planet and is a standard framework for CSR agendas.
It might be interesting to ask CEO?s around the country if they agree with these definitions. Many probably do. The answer would however be a good indicator of a company?s commitment to being Green and not just caught up in green wash.
What if a companies results are not good due to the current economic conditions and same store sales are flat or down during the curent quarters financial reporting? However concurrently the company has also offered guidance of the significant and positive impact they are having on the evolution of a greener supply chain and a significantly reduced carbon footprint. Would Wall Street react negatively or positively?
The great news is that every day more and more emphasis is being placed on this subject by companies of all sizes.
IWelook forward to your comments.
