1) Suggest a ESG strategy for sustainable development for consumer goods companies (not more than two pages)
Identify which ESG issues are most critical in the consumer goods industry 1. Responsible resource management
2. Environmental supply chain issues
3. Anti-competitive behavior or price fixing
4. Product quality and lifecycle issues
5. Social supply chain issues, such as the use of sweat shops or child labor 6. Employee relations and human rights
7. Workplace safety
Benefits of implementing ESG strategies
Productivity through more efficient supply chains
In this globalized age, it is important to forge strong and long-term relationships with suppliers for achieving successful corporate performance. These relationships depend on mutual trust which requires careful nurturing. In this regard, focus on supply chain management, especially providing support for small and medium-sized (SME) suppliers to enable them to grow with the company, would be a key factor for efficient production. Incorporating quality checks by the parent company in the processes followed by both suppliers and sub-vendors would establish processes that are environment friendly.
A reputation for sustainable business practices can build brands for which customers are willing to pay a price premium. Successful ESG programmes can be an important way to foster brand loyalty, improve company reputation and gain goodwill with customers and stakeholders. Attention to ESG issues is also important to avoid negative publicity.
Trade buyers and investors pay increasing attention to ESG matters.
operate in compliance with applicable local and national laws assess the environmental impact of operations as follows:
1. identify potential risks and appropriate mitigating measures through an environmental impact assessment where business operations could involve loss of biodiversity or habitat, emission of...
Please join StudyMode to read the full document