As someone who works in the import division, I know firsthand how important it is to stay up-to-date on industry news and insights. That’s why I wanted to share a recent report from Trade Ready that I found particularly interesting.
you can’t talk about supply chain in 2023 without talking about Environmental, Social and Governance (ESG). The social and environmental impacts of supply chains have been making headlines and leading trends in the industry for years now. ESG is a set of criteria that investors and stakeholders use to evaluate a company’s impact on the environment, society, and corporate governance practices. In recent years, there has been a significant increase in the number of companies that are voluntarily reporting on ESG metrics, and this trend is expected to continue as more investors and consumers demand transparency and accountability. In 2023, we seem to have reached a critical mass where ESG can’t be ignored. This January, the Germany Supply Chain Due Diligence Act came into effect in the fourth largest economy in the world. This legislation requires businesses to ensure that their entire end-to-end supply chains are free from environmental and human rights violations.
As a company, we believe that incorporating ESG principles into our business practices is not only the right thing to do, but also makes good business sense. By prioritizing sustainability and social responsibility, we can create long-term value for our stakeholders and contribute to a more sustainable future.
What are your thoughts on ESG regulations? Do you think they are important for companies to consider?
