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Resilinc CEO Bindiya Vakil discusses why it is necessary for businesses to enhance supply chain visibility in light of the threat of non-compliance
With the recent news that the EU’s Deforestation Regulation (EUDR) was formally accepted by the Council of the EU on 16th May 2023, environmental, social and corporate governance (ESG) is once again at the forefront of the supply chain resiliency agenda. Whether it is unethical sourcing of products such as paper, pollution violations or even the unfortunate danger of forced labour, your company could be at risk of compliance issues which, in turn, could lead to serious supply disruptions. So in order to shore up supply chains, it is crucial for companies to build upon their credentials in ethicality and sustainability and meet their ESG obligations.
According to PwC’s 2022 Global Investor Survey, ESG topics such as ensuring effective corporate governance, reducing greenhouse gas emissions and ensuring responsible supply chain practices have become top priorities for investors when considering which businesses to lend their support and resources to. For this reason, a positive and effective ESG strategy is not only crucial to maintaining supply but also to maintaining confidence in your business.
