Sustainability – the way ahead for global supply chains

Sustainability is the buzz word in corporate spaces, and rightfully so. Finance, retail, manufacturing, and sectors across the spectrum are reassessing their carbon footprint and overall Environment, Social, Governance (ESG) parameters. Mumbai headquartered global logistics conglomerate, Allcargo Group, is already taking forward steps to ensure sustainability across various levels of its business operations and activities, as well as Corporate Social Responsibility (CSR) initiatives.

Increasingly, consumers and investors are seeking businesses with strong ESG compliance. With climate change, and environmental degradation posing tangible challenges to communities around the world, corporates need to shoulder the responsibility of the environment and foster a responsible generation of corporate citizens who take the mandate forward. After all, one of the most significant aspects of sustainability is to sustain the future generations.

Sustainable supply chains

Global supply chains have a major role to play in the sustainability act. With around 450 million people working across the globe to keep global supply chains running, the onus as we all as scope to create positive change is tremendous.

Integrating sustainable practices in the supply chain would involve a serious re-look at the entire end-to-end supply chain, right from responsible sourcing of materials, to manufacturing, and finally to last mile transport. A green supply chain would therefore not only offset the carbon footprint but also optimise productivity and save on costs.

Further, implementing the Social and Governance aspects of the ESG norms would ensure the well-being of all those employed in the sector, which would not only contribute to a more content work experience but also have a cascading experience across communities.

Implementing a sustainability agenda

World over, sustainability practices of an organization are being called to the fore by customers, and employees, and also impact the choices made by millennials in deciding where to work. For instance, globally 86% of consumers have an expectation of the CEO to lead on such issues, while 58% of employees consider the company’s stance on social and environmental issues when deciding to join a workplace.

Increasingly, ESG adherence is becoming a compliance mandate for investors – an interesting trend indicative of the seriousness of the entire business ecosystem towards making a positive impact on the world.

Sustainable supply chains in action

Cognizant of the importance of sustainability and more specifically ESG goals is Allcargo Group, which is taking concrete steps towards implementing the ESG mandate. The conglomerate has a 360 degree approach to ESG wherein:

On the Environment front they focus on reducing the impact on the environment, enhancing sustainability across operations and facilities, and encouraging employees to conserve resources and minimize wastage.

Whereas for Social, holistic interventions are implemented in the areas of health, education and skill development, women empowerment, and disaster response.

For Governance, stringent norms of corporate ethics and employee welfare are implemented to create a fair, safe and productive work environment which is inclusive of people from diverse backgrounds.

Translating intent into action

When it comes to being a responsible corporate citizen, Allcargo Group continues to undertake several steps towards protecting the environment and bringing about sustainable growth for the logistics industry and its various stakeholders.

Environment

Allcargo Group’s Chairman Mr. Shashi Kiran Shetty is a signatory to the ‘Statement of Support’ developed by the Forum Supply Chain & Transport Community of the World Economic Forum to accelerate a zero-emission future.

Further, close to 0.45 million KwH units of electricity generated annually through renewable sources, help reduce carbon emissions by nearly 0.3 million metric tonnes.

Social

A number of CSR initiatives are implemented to help underprivileged communities and make a positive difference to the nation and society at large.

Activities like enabling sight and hearing, support for life-saving surgeries, medicines and counselling support, running a training and skill development centre, offering scholarships to meritorious students, career mentoring, building houses, etc. have benefitted more than 300,000 individuals.

Corporate Governance

In order to adhere to world-class standards, ISO 31000 framework for risk management and ISO 27001 for information security requirements have been implemented.

Conclusion

With an eye to the future, sustainability is becoming an integral part of the way the world does business and how supply chains are managed. And with more and more socially conscious organizations like Allcargo Group taking concrete steps to contribute to a better world, the future looks hopeful.