BERLIN – A new report from German organisation Yunus Social Business says that brands and retailers could accelerate work towards their ESG (environmental, social and governance) targets by collaborating with social enterprises as suppliers.
Whilst companies might typically task their value chain partners with meeting sustainability standards, Yunus suggests that fashion firms could reap faster rewards by seeking out suppliers striving to achieve their own environmental and social ambitions.
“The concept of social procurement represents a unique opportunity for companies to actually drive positive social and climate impact directly through their suppliers’ contracts and move from a ‘do not harm’ approach to a ‘do good approach,” the report’s authors believe.
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