A new collaborative effort, named ‘The Constellation,’ has been launched by Bankers for Net-Zero and Rewired Earth, with the backing of over 40 diverse organizations, including PwC, Microsoft, the British Standards Institute (BSI), Youth4Planet, and the University of Exeter. This initiative is designed to assist businesses and governments in measuring and verifying supply chain sustainability. The goal of The Constellation is to develop a comprehensive methodology and set of metrics to accurately assess an organization’s impact on the environment and society, with a particular focus on supply chains.
These supply chains are often the largest contributors to a business’s environmental footprint and social impact. The developed metrics and methodology will serve as a foundation for advising businesses, governments, and community organizations on making effective investments to enhance sustainability practices. The initiative aligns with the challenges addressed by King Charles in his keynote speech at COP28 in Dubai, where he urged the creation of collaborative efforts to facilitate coherent, long-term approaches across various sectors, countries, and industries.
Among the participating initiatives in The Constellation is the Supply Chain Data Partnership, spearheaded by Ordnance Survey. Launched in November 2022, this project aims to provide a verified location dataset for global supply chains, focusing on commodities like soy and palm oil, and includes members such as Deloitte and Unilever. Heather Buchanan, chief executive of Bankers for Net-Zero, described The Constellation as “a truly ground-breaking initiative” that represents a significant step towards impactful market actions to protect supply chains.
Buchanan emphasized the power of collective action, stating that working together enhances the ability to address market issues that hinder the protection of society and the planet, while also creating value. The Constellation is open to additional organizations and initiatives, with invitations extended for more participants to join in the coming weeks. Early participants at the launch include a wide array of organizations such as ACCA, CodeGreen Labs, Compator, Dentons Global Advisors, and several others, reflecting the diverse nature of the coalition.
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