As supply chains across the globe expand and evolve, the effect their operations have on the 3P’s – People, Planet and Profits, becomes increasingly complex.
The effects on livelihoods are immense as more than 450 million people today are employed as a part of global supply chains, with a significant proportion of informal livelihoods depending on them. Supply chain operations result in over five times higher carbon emissions than the direct operations of corporations. More than 90% of biodiversity loss and water stress is today attributed to unsustainable extraction and processing of raw materials, fuels, and food. The good news is that there is also an increasing willingness for firms, especially agribusinesses, to make their supply chains more resilient and sustainable on all fronts – one major decision being procuring or sourcing raw materials for their products sustainably. However, there continue to be supply- and demand-side challenges.
To discuss the nuances of this issue, we have with us Mr Jagjeet Singh Kandal (Country Director at IDH India) and Mr Rijit Sengupta (Head, Centre for Responsible Business). We discuss how we can address existing challenges, bridge information asymmetries, and make sustainable sourcing a reality.