ESG sustainability is your passport for the future
It helps to try and see things from the perspective of your potential buyers. For buyers, finding sellers that share their values may prove hard. Seller's "About" pages may be unhelpful. One may get on the phone with a seller's representative who may not be able to tell if the company actively manages ethical and sustainability standards in their supply chain, or whether they have zero tolerance for modern slavery and human trafficking.
It suddenly makes sense why so many buyers do not have alternative suppliers, much less have a supplier diversity strategy in place.
Diversifying one's supplier base takes concerted effort.
That said, a substantial part of the average company’s environment, social, and governance footprint lies with suppliers. As a result, the procurement function is baking more and more CSR (corporate social responsibility) / ESG (Environmental, Social, and Governance) inquiries into their RFIs/RFPs, and will increasingly do so in the years ahead.
ESG sustainability is every company’s passport for the future (provided they have adequate product-market fit, but that goes without saying).
Intensifying stakeholders' focus on environmental, social and governance (ESG)
Many companies continue to intensify their efforts to improve their management approaches and communications in relation to environmental, social and governance (ESG) issues, as investors and other key stakeholders increasingly consider a company’s environmental, social and governance performance alongside traditional financial metrics.
On the talent management front, higher social capital can undoubtedly boost employee motivation and help attract talent through greater social credibility. This, however, shouldn’t surprise anyone.
One never knows. You may soon get questions on how your company is dealing with Scope 3 emissions during your next all-hands meeting.
When it comes to the capital markets, investing within an ESG framework is now the fastest growing segment of the asset management industry. That said, ESG can sadly be used as a very loosely defined term for “greenwashing”.
This means transparency is key to ensuring that insights and analytics can be interpreted appropriately. Some could argue that climate is the single greatest issue for society, and this should receive the greatest consideration when assessing a company. Others may consider diversity and inclusion or a living wage policy to be of equal importance to any net zero target. Independently, there must be transparency to mitigate market confusion and enhance understanding among market participants.
Restimuli democratises ESG marketing
Build vs. Buy
All that transparency, and in the case of public markets — regulatory compliance — often means that ESG marketing can use up a lot of resources. Restimuli helps democratise ESG marketing.
You may wonder how does having a supplier profile at Restimuli compares with creating content for your own website/online presence and distributing it via targeted advertising.
Essentially, this is a build vs. buy exploration.
Doing ethical positioning on your own online presence is an option. A few notes on this:
- Such content can be be perceived as "just marketing" by your buyers and investors.
- This option may come with high marketing expenditures, specially when it comes to distributing that content.
Now, having a supplier profile at Restimuli provides:
- The benefit of social proof as your company is presented by an independent party on an independent site.
- There is still no way to google for things like "suppliers that have a published modern slavery statement" and get good search results. Searching for "suppliers that are fair trade certified" won't yield that great google search results either. In Restimuli, buyers can use filters to help them find suppliers that share their values.
Partner with Restimuli
Restimuli is the place for organizations selling (and/or donating) essential industries' resources (Transport/Logistics, Chemicals, PPE, Pharmaceuticals, Medical Devices, Diagnostics, Polymers, Sanitisers, etc.) to tell potential buyers about their culture and standards and how their values translate into daily practices.
Restimuli is for the buyers that want clarity about who they'd actually be doing business with and what the supplier's ethical standards are. Restimuli reorders the steps of the procurement process. Because ideally, buyers should know what type of suppliers are aligned with their values before all the phone calls, emails, and meetings.
Contact sales at restimuli.com to learn how a company profile and digital storefront in Restimuli's business directory makes it easier than ever for you to market your products and company values online.
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