What is ISO 204042017?

ISO 20404:2017 is a global standard that provides guidelines for organizations to implement sustainable procurement. Sustainable procurement involves considering environmental and social factors when making purchasing decisions, in addition to traditional cost and quality considerations.

Why is sustainable procurement important?

Sustainable procurement addresses the broader impact of purchasing decisions beyond immediate costs and benefits. It takes into account the long-term environmental, social, and economic consequences of procurement activities. By implementing sustainable procurement practices, organizations can contribute to environmental protection, support social responsibility, and drive innovation.

The key principles of ISO 20404:2017

ISO 20404:2017 lays out several key principles for organizations to follow when implementing sustainable procurement. These principles include:

Understanding sustainability issues and integrating them into procurement processes

Evaluating suppliers based on their sustainability performance

Setting clear expectations for suppliers regarding sustainability

Monitoring and measuring sustainability performance

Continuously improving sustainability performance

The benefits of implementing ISO 20404:2017

Implementing ISO 20404:2017 can bring numerous benefits to organizations. Firstly, it helps mitigate risks associated with unsustainable procurement practices, such as reputational damage and regulatory non-compliance. Secondly, it enables organizations to make informed decisions by considering multiple factors, not just financial ones. Thirdly, it promotes transparency and accountability within the supply chain, fostering trust among stakeholders. Finally, implementing ISO 20404:2017 can lead to cost savings through reduced resource consumption and improved operational efficiency.