Fusion Group Limited are a rated supplier on the CIPS Sustainability Index
Fusion Group Ltd are a rated supplier on the CIPS Sustainability Index.
CIPS Sustainability is a collaboration of the Chartered Institute of Procurement and Supply, the University of West England and PRGX. Research indicated there were limited cross-industry standards that assessed the “three pillars” of sustainability for suppliers and buyers, the CIPS Sustainability Index was therefore developed to create a consistent sustainability measurement.
The Benchmarking Statistics available on the CIPS website show that Fusion Group Ltd are performing on average considerably better not only than other Companies of the same size and in the same sector, but also better than all Companies rated on the CIPS Sustainability Index.
|Fusion Group Limited||94||100||98|
|Other Companies Same Size||72||73||81|
|Other Companies Same Sector||73||74||83|
|Other Companies Same Size & Sector||73||76||85|
|All CSI Suppliers||82||73||72|
What is sustainability and what value does the CIPS Sustainability Index add in this area?
In a Business environment a sustainable business is typically expressed as an enterprise that has no negative impact on the global or local environment, community, society, or economy. Many organisations group their sustainability activities together under a Corporate and Social Responsibility (CSR) policy. The CIPS Sustainability Index uses the academic definition of social, economic and environmental criteria to underpin its methodology and approach. A key element in being recognised as a sustainable business is to understand the sustainability credentials of your supply base. This is both from a pure sustainability standpoint, i.e. wanting to use suppliers where possible who have the same values, but also as part of business risk strategy.
The ‘three pillars’ of sustainability are key to the CIPS Sustainability Index approach:
The CIPS Sustainability Index uses a series of questions for each of the “three pillars” to assess and score an organisations performance in those areas.
- The Social Pillar:
- Social sustainability has gained more importance over the last few years, often as a result of pressure from Investors and Customers. Additionally many of the sustainability related reputational risks can be found within this pillar e.g. how employees are treated. Social sustainability typically embraces the key areas of Employment Practice, Corporate Citizenship / Philanthropy, People Management and Development, Human Rights Compliance, and Social factors within the Supply Chain.
- The Economic Pillar:
- More than ever before organisations are reviewing and minimising risk of suppliers being affected by the current economic climate. Additionally, it is becoming increasingly important to demonstrate stable economic credentials, which is where the CIPS Sustainability Index adds significant value. Economic sustainability typically embraces the key areas of Corporate Governance, Financial Robustness, Innovation Capacity along with Business Integrity and Ethics.
- The Environmental Pillar:
- Environmental sustainability has often been at the forefront of an organisations ‘Sustainable’ thinking. This has been spurred on by the debate on climate change, legislative requirements, government targets, customer and stakeholder pressure and in many cases a real business case to do something in this area. Environmental Sustainability typically embraces the key areas of Environmental Management, Greenhouse Gas Emissions, Energy Consumption, Waste Management, Water Management, Sustainable Sourcing and Materials and Resource Utilisation.
Key Benefits of the CIPS Sustainability Index:
- Having gained a score, this can be provided to a large number of current and potential customers avoiding the need to waste time and effort repeating answers to often identical questions
- It enables suppliers to demonstrate their sustainability credentials to buyers and provides a valuable showcase to potentially increase their customer base
- It allows suppliers to benchmark their sustainability credentials against their industry peers
- Reduce business risk and enhance business opportunities
- Enhance brand recognition and reputation
- Enhance a Company’s ability to strategically plan for the longer term
- Measure improvements in a Company’s sustainability scores
Source: CIPS Sustainability Index https://cips-sustainabilityindex.com/
|Date:||4th May 2017|
|Date:||4th June 2018|