Supply chain News and trends

Growing consumer awareness and increased government initiatives around sustainability and climate change are adding pressure on industries to adopt sustainable practices. This is particularly true of the food and beverages (F&B) sector where food production is responsible for one-quarter of the world’s greenhouse gas emissions. Left unchecked, this figure will only rise due to the combined impact of a rising population and growth of the middle class – wealthier people consume more resource-intensive, animal-based foods. According to the World Economic Forum, by 2050, the demand for food will be 60 per cent greater than it is today.

Via EcoVadis

HSBC, one of the biggest banks in the world, has set bold climate change ambitions — and its sustainability aspirations are now being replicated in New Zealand.

The bank, based in London after being established in Hong Kong in 1865, believes there is a landmark opportunity to build a thriving, resilient future for society and businesses by prioritising financing and investment that supports the transition to a carbon zero global economy.

HSBC, with assets of nearly US$3 trillion (NZ$4.29t), operates in 64 countries and has 40 million personal banking customers and 1.4m business clients. The bank is prepared to work with all of them to develop tailored solutions to reduce greenhouse gas emission. It is also applying a climate lens to financing decisions.

Via EcoVadis

Countering the trend for more packaging is the desire for more sustainable measures, especially as climate change becomes of greater concern to consumers.

A 2020 survey by the IBM Institute for Business Value in association with the National Retail Federation found that 57 percent of consumers are willing to change their purchasing habits to reduce negative environmental impacts.

Further, products marketed as sustainable have expanded more than seven times faster than other items, according to a 2020 report from the New York University Stern Center for Sustainable Business.

Via EcoVadis