Sourcing materials responsibly
We rely on natural materials to create our products and services. Our aim is that, by 2030, all the key materials which we use should be sourced responsibly and sustainably. Our operating companies will continue to be responsible for managing their own supply chains. They have identified their key materials. Specific plans and targets are being developed with a view to meeting our 2030 aim.
We rely upon many materials to enable the creation of our products and services, and are committed to ensuring that we source these responsibly, and ultimately, sustainably.
Supply chains are becoming longer and more complex. The severity and frequency of supply chain disruptions is increasing. A World Economic Forum report indicates that when companies experience significant supply chain disruptions, it can reduce their share prices by as much as 7%1. Transparency of origin is important to consumers. We need to know more about the sources of our materials. We want to obtain them in a way that does not degrade nature, and with the people who produce them being treated with dignity and respect. This is expected of us. Sustainable sourcing limits the risk of supply chain disruptions and protects our reputation.
1 “Building Resilience in Supply Chains”, World Economic Forum, 2013.