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 (multiple responses possible)
Support of corporate sustainability strategy
67%
Responding to customer interest in green products
49%
Reduced liability, health and safety costs
19%
Cost reduction
12%
Increased shareholder value
12%
Source: EyeForProcurement
Key Barriers to Implementing Green Purchasing (multiple responses possible)