Cost of implementing practices is holding some companies back
Environmentally friendly purchasing is a growing trend, but so far few companies are realizing any spin-off benefits in terms of reduced costs, according to a recent survey conducted by research firm EyeForProcurement.
The cost of implementing green purchasing practices is the main sticking point, with a basic unawareness of environmental concerns running a close second as a barrier. Out of those polled for the survey (primarily procurement executives at manufacturing and logistics companies), nearly half (48%) have no green purchasing policies in place, 21% have developed written policies on green purchasing and 31% are actively practicing it.
Key Benefits of Green Purchasing
|Support of corporate sustainability strategy||67%|
|Responding to customer interest in green products||49%|
|Reduced liability, health and safety costs||19%|
|Increased shareholder value||12%|
Key Barriers to Implementing Green Purchasing
|Suppliers' lack of environmental awareness||42%|
|Insufficient green purchasing knowledge||37%|
|Difficulties in preparing green purchasing specs||16%|
|Lack of corporate commitment||16%|