How to lead the way in sustainability
With every passing year, the warnings from climate scientists get more and more urgent. Take, most recently, a study that showed that we’ve crossed six of the nine planetary boundaries that make life on earth possible. These warnings now have dire consequences: with the planet destabilised, what is life going to look like in the next ten, twenty or fifty years?
Fortunately, just as the call for sustainable procurement and alignment with Environment, Social and Governance (ESG) principles is getting louder, so too is the call for more diverse leadership in this area. And as our expectations of procurement leaders change, there’s an increasingly important role for women in driving sustainability.
But what does that role look like? And how can we help female leaders in procurement overcome barriers and truly lead the way in sustainability?
Who will lead the ESG revolution?
There’s little doubt that now, in 2024, ESG has become a focal point for businesses, investors, and consumers alike. Yet many organisations are, unfortunately, not where they’d like to be in their journey.
They’re not even close. In a report we commissioned in conjunction with Ivalua last year, we found that although many teams had made progress on their ESG journey (34% said they had, 47% of surveyed procurement teams said they continued to face significant hurdles in implementing ESG, including 42% saying they faced budget constraints, and 36% saying there was a lack of urgency to improve.
Yet fortunately, one group of people are well-positioned to change this: women. It’s been recognised across the board that it’s high time we introduced ethics into our supply chains and women, with their inherent ability to lead with emotion and vulnerability, and to put their people and the planet first, are well-suited to drive this change.
ESG proficiency is not merely a technical skill; it is a mindset that considers the broader impact of procurement decisions on the environment, society, and governance. Women leaders, often recognised for their holistic approach to problem-solving, bring a unique blend of empathy and strategic vision, making them pivotal in reshaping procurement practices through the lens of sustainability.
Let’s also not forget that research consistently indicates that companies with diverse leadership, including gender diversity, outperform their counterparts. Harnessing the power of women in leadership positions not only aligns with ethical considerations but also has tangible benefits for the bottom line. Therefore, now more than ever, women must equip themselves with the knowledge and skills required to navigate the complex landscape of ESG in procurement.
The Value of Diverse Leadership in Driving Innovation and Creative Problem-Solving
If you’re just at the start of your sustainability journey, or you’re well progressed, you will have realised: sustainability is not a one-size-fits-all concept. Instead, it requires innovative solutions tailored to the unique challenges.
Diverse leadership, particularly the inclusion of women, fosters a rich tapestry of perspectives, experiences, and ideas that are instrumental in driving innovation and creative problem-solving.
Female leaders have consistently demonstrated an ability to approach challenges with agility, collaboration, and a keen understanding of stakeholder needs. In the context of sustainability in procurement, this translates to a proactive stance on identifying and implementing eco-friendly sourcing, reducing carbon footprints, and championing responsible supply chain practices.
But this is not all that female leaders have proven themselves adept at. Research shows that female leaders are adept at fostering a culture of inclusion, which is crucial for sustainability initiatives to take root and flourish. By creating an environment that values diverse opinions, organisations can tap into the collective intelligence of their workforce, leading to more effective and sustainable procurement strategies.
Navigating barriers: Procurement’s journey towards full sustainability integration
It’s clear that female leaders in procurement have a vital role to play in driving sustainability in procurement. Despite this, though, there are, unfortunately, still barriers that need to be overcome. Traditional gender biases, systemic obstacles, and a lack of representation in leadership roles continue to impede progress. Recognising and dismantling these barriers is essential for achieving meaningful change.
Of course, women cannot do this alone. Organisations must actively work towards breaking down gender-related stereotypes and biases in the procurement sector. This involves fostering an inclusive workplace culture, implementing mentorship programs, and providing equal opportunities for career advancement. Additionally, creating a supportive network that encourages the sharing of experiences and best practices among women in procurement can be instrumental in overcoming challenges.
The need for more sustainability is not going away. If anything, it’s getting more urgent. For this reason, the integration of sustainability into procurement practices is a journey that requires commitment, innovation, and diverse perspectives. Will you be the leader that steers your organisation in this direction?
If you’re wanting to learn more about sustainability in procurement and how to become the sustainable leader you aspire to, then our BRAVO program is for you.
Through BRAVO, you’ll join other inspirational female procurement leaders to foster a sense of community, share experiences, and gain support from others in your career journey.
To find out more about the 2024 BRAVO program, please click your region below:
