For small and mid-sized manufacturers, sustainability assessments like EcoVadis can initially seem like compliance hurdles. However, for Tessy Plastics, a U.S.-based injection molding company, embracing EcoVadis became a catalyst for significant business transformation and revenue growth.
EcoVadis is becoming a standard requirement for suppliers doing business with large corporations. What began as a niche sustainability evaluation tool is now a global platform used by over 1,400 large corporate buyers to assess supplier performance across environmental, social, ethical, and procurement metrics.
EcoVadis Brief: What to look for in an EcoVadis advisor — And why it matters Read More »
Helping small manufacturers understand and prepare for ESG requirements
As sustainability becomes baseline expectation for doing business, many small and mid-sized manufacturers are encountering EcoVadis for the first time. Once seen as a niche tool, EcoVadis has quickly become the global standard, used by more than 1200 global procurement teams, to assess supplier performance on environmental, social, and ethical issues.
EcoVadis Brief: 5 misconceptions about EcoVadis — And the truth behind them Read More »
“Has Sustainability failed . . . ?”
A provocative and critical question that was raised in last week’s public launch of Alex Kruzel’s, CEO & Founder of Telesto Strategy, book The Courage to Continue at The Chicago Council on Global Affairs. Patrick Shewell, Director of Global Packaging Sustainability of Mondelez, provided the expert moderation to an at-capacity audience full of public and private sector leaders. Watch full discussion: Securing a Sustainable Future in a Polarized Era
As global trade and security challenges continue to escalate as President Trump begins his second term, an insightful and compelling new book, The Courage to Continue, calls for a non-partisan approach to evaluate how businesses can effectively advance their environmental sustainability agendas and support America’s national security priorities. Authored by Alex Kruzel, founder of Chicago-based management consulting firm Telesto Strategy, the book prompts decision-makers across all industries and sectors with crucial questions and considerations for leaders to advance their corporate sustainability goals.
With national security central to Trump’s policy agenda, sanction compliance directly ties into Industrial companies’ boards of directors’ duties of care and loyalty. As stewards of the company, directors must ensure responsible and ethical operations, which include strict adherence to sanctions. Failing to comply can expose the company to significant legal and reputational risks, which will ultimately harm shareholders’ interests. Therefore, it is imperative that boards fully understand the sanction compliance requirements relevant to their company.
Board series: What’s your sanction exposure? Readiness for Industrials Read More »
In today’s dynamic global corporate regulatory landscape, ESG reporting for Industrial companies goes beyond regulatory compliance—it plays a pivotal role in building trust, driving consumer and investor decisions, and securing long-term business viability. However, with expected regulatory upheaval under Trump 2.0, boards should press management teams to reconsider their voluntary reporting strategies. Boards must strategically navigate voluntary versus non-voluntary disclosures, not only to meet current regulatory demands but also to anticipate and shape future standards, turning ESG efforts into a competitive advantage.
While Industrial companies have set decarbonization goals, there is still work to be done to integrate decarbonization strategies across sourcing, assembly, production, transportation, and product marketing. Regulators and customers are pushing for greater transparency for both emissions disclosures and other ESG metrics (embodied carbon, recyclability, biodiversity, fair trade, human rights, etc.) This pressure has started in Europe and continues to grow in North America, Australia, Singapore, and beyond. Board members should understand key drivers around this trend and determine how their organizations should manage reputational and greenwashing risk with carbon labelling.
Data privacy has become a critical issue in the boardroom, especially within the Industrial sector. While awareness varies, recent high-profile data breaches and privacy scandals have heightened board-level attention to these matters. The reputational and financial risks are significant, especially as these risk are no longer insurable. Accordingly, boards have begun recruiting directors with expertise in technology and data privacy as well as improving enterprise data governance and protection (as part of ESG practices). Notably, younger board members often bring a heightened sensitivity to digital and privacy risks, contributing to a more balanced and informed board composition.
As President-elect Donald Trump prepares for his second term, industrial and materials companies will face significant challenges and opportunities stemming from his aggressive trade policies. Boards must anticipate potential changes to tariffs and trade strategies and plan accordingly to navigate these shifts.
Board Series: Trump 2.0 tariffs and preparedness for Industrial companies Read More »