Assent recently surveyed global complex manufacturers on ESG efforts across the supply chain and their study found that 76% of manufacturers are at the planning stages of supply chain ESG maturity and 69% plan to increase their supply chain ESG and sustainability investments in 2023. This study highlights that ESG, sustainability management and supply chain climate impacts are important for manufacturers. Results of this research showed that 55% of complex manufacturers cited climate impact as a current supply chain ESG priority at their organization. Yet only 31% are confident in the quality and accuracy of their data. This means that better data collection and supplier engagement will be top priorities for 2023. Especially as ESG impacts are under increased regulatory scrutiny.
“This new research emphasizes that manufacturers are deeply aware of the critical need for credible supply chain ESG data to sustain business growth and meet stakeholder expectations,” says Andrew Waitman, CEO of Assent. “At the same time, there is an urgent need to improve supply chain visibility to meet evolving ESG standards and requirements. There is a gap that needs to be addressed immediately as only 25% of complex manufacturers are highly confident that their suppliers have the capabilities today to credibly support their supply chain initiatives. Companies who are accelerating their ESG are in the lead as they will maintain market access, grow their business and deliver responsible products to the world."
- 76% of manufacturers are at the planning or foundational stages of supply chain ESG maturity
- 69% expect their supply chain ESG/sustainability investments to increase in the next year
- 80% say their organizations are somewhat to extremely dependent on partners and suppliers to help them achieve supply chain sustainability/ESG goals
- 59% expect this dependency on their partners and suppliers to increase in the next year
- 25% of respondents reported having high confidence in the capabilities of their partners and suppliers to support their ESG/sustainability goals
- 31% said they are highly confident in the quality and accuracy of their organization’s supply chain data