Sedex Global and the World Bank Institute have joined forces to launch a new, free-to-use platform that will enable companies and investors to monitor the responsibility and sustainability of supply chains.
The user-managed Open Supply Chain Platform will allow businesses – and their stakeholders – to investigate the credentials of their suppliers and consumers against governance and sustainability indicators.
These indicators will include areas such as business ethics, labour standards and environmental footprints.
Its designers hope that the project will fill vital gaps in the availability and visibility of supply chain data, helping companies of all sizes to improve their impact, become more efficient and generate shared value.
“By combining Sedex’s 10 years’ experience of responsible sourcing with the global reach of the World Bank Institute, the Open Supply Chain Platform will deliver a step change in the uptake of responsible behaviors and practices by businesses”, said Carmel Giblin, Sedex CEO.
“It will foster governance, sustainability and social development impacts in global supply chains”.
In April, the European parliament voted through new legislation that requires all large companies to disclose non-financial information, including risks and outcomes linked to environmental performance or human rights and corruption issues.
Sedex says the timely new platform will provide a unique mechanism which will allow the private sector to share such information.
Benjamin Herzberg, leader of the World Bank’s private sector engagement for good governance, added, “The World Bank is committed to scaling up development impacts and achieving the goals of ending extreme poverty and boosting shared prosperity.
“It is thus essential that we encourage the private sector to adopt open and collaborative behaviors that favor social, environmental and governance outcomes.”
Photo: Tareq Salahuddin via Flickr