Ethical Sourcing Definition
Ethical sourcing is the practice of procuring goods and services in a way that minimizes negative social, economic, and environmental impacts.
It is also sometimes referred to as responsible sourcing, sustainable sourcing, or green sourcing. Ethical sourcing takes into account the entire life cycle of a product or service, from its inception to its disposal. This includes everything from the way raw materials are extracted to how waste is disposed of.
The goal of ethical sourcing is to create a positive social, economic, and environmental impact throughout the supply chain. By doing so, businesses can help to improve the lives of workers, protect the environment, and promote sustainable development.
There are a number of different ways to achieve ethical sourcing. One common approach is to develop supplier codes of conduct that outline expected standards for labor practices, environmental stewardship, and business ethics. These codes can be used to screen suppliers and assess their compliance with ethical standards.
Another approach is to work directly with suppliers to help them improve their practices. This can involve providing training on topics such as labor rights or environmental protection. It can also involve providing financial assistance for investments in cleaner production technologies or worker welfare facilities.
Many businesses are now incorporating ethical sourcing into their overall corporate responsibility strategies. By doing so, they are not only helping to build a more sustainable supply chain, but they are also demonstrating their commitment to social and environmental responsibility.
