CSR is No Longer an Option . . .
In an evolving landscape of regulations, social values, and consumer preferences, the Triple Bottom Line has become an essential framework of business design. The concept underpins Corporate Social Responsibility (CSR) by asserting that growth and profitability should not have negative social and environmental impacts. CSR is becoming an imperative for success, one that procurement plays a central role in. Socially responsible procurement aims to ensure that suppliers are adhering to quality practices in key areas such as diversity and inclusion, environmental protection, health and safety, and human rights.
Adherence to the Triple Bottom Line is more than just the right thing to do; it also comes with a number of competitive business advantages. In particular, it reduces the risk of both supply chain disruption and negative publicity.