Environmental, Social and Governance (ESG) factors are becoming increasingly important in supply chains. Consumers are demanding more transparency and better practices than ever before. Meanwhile, millennials are putting their money where their mouths are and increasingly investing in companies that align with their environmental and societal values.
In this article, we’ll outline some contractual provisions that you can implement to strengthen ESG in your supply chains in order to improve worker quality of life. These improved working conditions and living wages can lead to the following benefits:
- More consistent quality in the products being supplied
- Improved reputation and competitive advantage for your company
- Decreased staff turnover
- Improved quality of life for workers in your supply chain
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