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Sourceful, a startup that helps e-commerce companies create sustainable packaging, raised $20 million in Series A funding led by Index Ventures.
Why it matters: As consumers become more educated around supply chain sustainability, Index's portfolio companies, which include consumer startups and large d-to-c companies, will need to rethink every aspect of their existing suppliers.
Driving the news: Sourceful raised the Series A to help e-commerce companies design more eco-friendly packaging, offering a first step in reducing companies' Scope 3 emissions in accordance with the proposed SEC rules.
Via EcoVadis
An in-depth look into the sustainability measures employed by industry players in the dairy, ingredients and flavor sectors, to mitigate greenhouse gas (GHG) emissions reveal that pooled efforts are being undertaken to source raw materials with a reduced carbon footprint and production of plant-based products has been prioritized.
Via EcoVadis
Hy-Vee is reinforcing its commitment to environmentally and socially responsible seafood by announcing the adoption of its new Seafood Supplier Code of Conduct.
The company said that it aims to partner with seafood suppliers that share its commitment to quality products, environmental responsibility and fair labor practices. The labor expectations set out in the SCoC are aligned with international norms, standards and best practices, including the United Nations Global Compact, International Labor Organization. International Labor Standards, and Verité Responsible Sourcing Tool Sample Code of Conduct Provisions for Seafood Supply Chains.
Via EcoVadis
The IoT is having and will continue to have a great impact on the supply chain. However, beyond efficiency, IoT tech will yield more sustainability.
POR: JUAN JOSÉ ISAZA - Aunque no todos los insumos o materias primas pueden tener la misma importancia y dependiendo de sus necesidades particulares cada
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Alan Holland, chief executive officer of Keelvar, describes the challenge of measuring the carbon emissions of suppliers in multi-tier global supply chains.
As defined by the Greenhouse Gas Protocol, Scope 3 emissions are those emanating from a company’s suppliers — in other words, those that lie outside the control of the original equipment manufacturer. Scope 3 emissions “are inherently more difficult to measure and control, because they’re not coming out of your factories,” says Holland. Sources include producers of components and raw materials, as well as transportation providers.
Growing awareness of the importance of measuring Scope 3 emissions has major implications for sourcing and procurement. For businesses with manufacturing supply chains, Scope 3 emissions can account for between 65% and 90% of total emissions, notes Holland. “It’s imperative that companies get a handle on this.”
The measuring of Scope 3 emissions must become an integral part of the supplier selection process. “Procurement is very much on the front line now,” says Holland. By making emissions a criterion for selection, OEMs can realize dramatic reductions in overall carbon emissions.
Via EcoVadis
HSBC, Walmart and CDP are teaming up to unlock more financing for Walmart suppliers. The catch? The suppliers must set validated science-based targets for emissions reductions and meet certain performance thresholds in ongoing ESG disclosures to reporting organization CDP.
The supplier financing program is part of Walmart’s Project Gigaton, the company's initiative to avoid 1 billion tons of greenhouse gas emissions from being released into the atmosphere by 2030.
Via EcoVadis
A sustainable supply chain requires more than just following the law, undertaking audits, or increasing transparency.
By evaluating supply chain operations, small retailers are uncovering cost-savings, sustainability opportunities and chances to increase employee engagement, says Joe Carpenter of the Climate Action Business Association.
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