Organisations sourcing materials from around the world need to be rigorous with their compliance and due diligence policies and practices. This is particularly applicable to companies sourcing rare materials which are difficult to source and prone to eliciting illegal activity.
Environmental issues are affecting the availability of materials once taken for granted. A US Official News bulletin (research conducted through Nexis®) includes a comment from Mike Barratt, Director of Science and Policy at WWF “We have lost one half of the animal population and knowing this is driven by human consumption, this is clearly a call to arms and we must act now.”
Monitoring the far reaches of a complex global supply chain has become a top priority in many large companies’ corporate social responsibility policies
Investing in the better management of natural resources and putting a stop to deforestation is the smart thing to do. British businesses are already leading the way in setting up long-term sustainable supply chains. Speaking at the Forest and Climate Challenge conference at the United Nations General Assembly in New York, International Development Secretary Justine Greening announced that ‘Britain will promote new links with businesses to manage scarce natural resources and stop deforestation in the developing world.’
Winning business by responding to increasing client demand for sustainability
In order to be well placed to win business in the future, companies in the construction industry need to address sustainability. And there are good reasons for doing so:
Avoiding reputational damage. A sustainable approach can reduce some of the key risks associated with construction. This can help avoid adverse publicity over environmental and social performance.
Monitoring negative media on your supply chain. Monitoring negative media stories around deforestation in the construction sector can make sure you keep a close eye on your suppliers.
Companies in the construction industry sourcing wood internationally are not only facing high reputational risks, but also the legal risks involved with deforestation and timber scarcity. Although many are taking a proactive approach to combating the variety of issues faced by this industry, increased vigilance over supply chains using illegally sourced materials is imperative if companies are to avoid punitive measures and environmental impact.
Influencers and word of mouth are powerful tools in forming brand reputations. But while you and your company endeavour to project one image, the perception might be something else entirely. LexisNexis Analytics combines innovative technology with premium content – including traditional and new media – to transform information into actionable intelligence. Monitor industry conversations to assess brand perception and keep track of what the press and internet say about your company.