Research conducted in collaboration with Supply Chain Dive underscores the financial gains of sustainability-driven strategies.
CHARLOTTE, NC / ACCESSWIRE / December 19, 2024 / Integrating sustainability into supply chain operations is more than an ethical imperative-it's a smart business move. A study by DP World, conducted in partnership with Supply Chain Dive's studioID, reveals that 82% of supply chain professionals believe organizations that embrace sustainability achieve improved financial performance over time.
The report, "Sustainability Drives Financial Benefit Across Supply Chains" surveyed 150 supply chain, operations, and procurement professionals from various industries across North America. The findings reveal a significant shift in how businesses view and implement sustainability, as sustainability investments reshape how companies manage resources, select partners, and measure success.
Morten Johansen, Chief Operating Officer of DP World Americas, said: "As we observe the transformative shift in supply chain practices, it's evident that sustainability is not just a trend but a foundational element for modern business strategies. This report highlights how integrating sustainability measures can serve as a catalyst for substantial improvements in both economic efficiency and strategic innovation. Companies are now recognizing that sustainable practices enhance operational resilience and are essential for long-term profitability."
Key highlights from the report include:
Efficiency and Resilience Lead the Way: Over one-third (36%) of respondents are driven by the efficiency or financial gains from sustainability initiatives, while 30% highlight improved supply chain resilience. Nearly one-third (32%) see sustainability as a critical competitive advantage.
Sustainability Gains Momentum. Compared to three years ago, 74% of respondents report a greater focus on supply chain sustainability and decarbonization. Additionally, eight in 10 plan increase resources, both financial and through headcount, toward sustainability over the next three years.
Adapting to Change: Despite Scope 3 emissions being excluded from the U.S. Securities and Exchange Commission's 2024 rulemaking, many organizations are incorporating similar requirements. Top strategies include reconfiguring supply chains, such as nearshoring or reshoring (25%) and collaborating across industries to achieve decarbonization goals (25%).
Preparing for Carbon Accountability: Organizations are building capabilities to measure and report emissions. Top strategies include improving collaboration between accounting and supply chain teams (35%), investing in tools and systems for carbon accounting (33%), and setting clear emission reduction targets (33%).
Supplier Decarbonization Capabilities: Nearly half (44%) of respondents state that a supplier's decarbonization and sustainability capabilities are a key factor in future partnerships.
Sarah Mouriño, Senior Director, Sustainability for DP World Americas, said: "Investment in supply chain sustainability is proving its value beyond compliance and stakeholder reputation. Moving forward, supply chain decision-making - for everything from partner selection to budget allocation and network design - will consider both the economic and environmental benefits of sustainability."
The full report, "Sustainability Drives Financial Benefit Across Supply Chains," is available for download from the DP World website.
Survey Methodology
DP World collaborated with Supply Chain Dive to conduct an online survey, polling 150 respondents in operations, supply chain, and procurement roles across various industries. The respondents represented a diverse range of sectors, including industrial manufacturing (39%), healthcare/hospitals (20%), consumer products manufacturing (9%), and technology (9%). The largest segment of respondents came from organizations with annual revenues between $101M-$500M (19%), followed by $51M-$100M (16%), and $1.1B-$10B (15%). The survey respondents were based in the United States and Canada.
For more information, visit DP World.
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DP World Americas Media Contact:
Melina Vissat, Head of Communications
M: (+1) 704-605-6159
E: melina.vissat@dpworld.com
About DP World
Trade is the lifeblood of the global economy, creating opportunities and improving the quality of life for people around the world. DP World exists to make the world's trade flow better, changing what's possible for the customers and communities we serve globally.
With a dedicated, diverse and professional team of more than 111,000 employees from 159 nationalities, spanning 77 countries on six continents, DP World is pushing trade further and faster towards a seamless supply chain that's fit for the future.
We're rapidly transforming and integrating our businesses -- Ports and Terminals, Marine Services, Logistics and Technology - and uniting our global infrastructure with local expertise to create stronger, more efficient end-to-end supply chain solutions that can change the way the world trades.
What's more, we're reshaping the future by investing in innovation. From intelligent delivery systems to automated warehouse stacking, we're at the cutting edge of disruptive technology, pushing the sector towards better ways to trade, minimising disruptions from the factory floor to the customer's door.
WE MAKE TRADE FLOW
TO CHANGE WHAT'S POSSIBLE FOR EVERYONE.
View additional multimedia and more ESG storytelling from DP World on 3blmedia.com.
Contact Info:
Spokesperson: DP World
Website: https://www.3blmedia.com/profiles/dp-world
Email: info@3blmedia.com
SOURCE: DP World
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