Logistics Manager, March 2, 2023, James Mcloughlin
A study by Microsoft and Tata Consultancy Services (TCS), investigating decarbonization within the global supply chains of major companies, has found that only 16% of major firms have publicly set science-based targets to reduce direct operational emissions, and just 11% have such targets for their supply chains.
The study highlights the importance of ‘making the data not only accessible, but also understandable’. Transparency builds trust, and that will be key to companies maintaining a positive relationship with consumers in a world where sustainability is becoming more and more of a concern.
Swati Murthy, Director for Strategic Sustainability Collaborations at TCS, said: “Our findings make clear how much innovative work remains to be done to make global business sustainable – and how critically important it is to engage with an extended ecosystem that involves all stakeholders – including customers, consumers, suppliers, service providers, and policymakers.
“Reimagining global supply chains, and using the latest technology and analysis, is a vital step towards more sustainable practices. Therefore, it is absolutely essential to forge stronger strategic collaborations with hyperscalers to share and scale solutions faster, bringing together the latest decarbonisation technology and expertise and making it accessible to all stakeholders across the business value chain. This collaboration is key to unlocking the potential of green transitions and mitigating the environmental and social risks we all face.”