Sustainable procurement takes into account environmental, social and governance factors, and selects products and services that are in line with the principles of sustainable development to promote the harmonious development of the economy, society and the environment. This is essential for enterprises to fulfill their social responsibilities, enhance their competitiveness and create value.
Sustainable procurement in the chemical industry is particularly critical and has wide-ranging implications. By reducing the environmental burden and enhancing the social reputation, we will promote the sustainable development of customers and businessmen, and promote the green transformation of the chemical chain.
In 2011, forward-looking chemical companies launched the TFS initiative to improve the ESG performance of the chemical chain. Based on the United Nations Global Compact and Responsible Care principles, it provides a global framework and tools to assess, improve and demonstrate ESG performance, and set an example for sustainable procurement in the chemical industry.
At the heart of TFS is a set of globally applicable frameworks and tools, namely TFS Assessment and TFS Audit, which are used to measure the ESG performance of chemical companies and their suppliers, and to provide international practice standards for the ESG performance of the chemical chain. The TFS assessment is a self-assessment questionnaire that covers management, environment, health and safety, labour and human rights, and governance issues.
A TFS audit is an on-site third-party audit that provides an in-depth check and verification of a company's ESG performance. The results of TFS assessments and audits are open to all TFS member firms, following the principle of "one assessment, one audit, multiple uses" to avoid duplication of effort, save time and costs, and improve efficiency and transparency.
TFS's frameworks and tools are based on internationally recognized ESG standards and guidelines, such as ISO 26000, SA 8000, ISO 14001, OHSAS 18001, OECD guidelines, etc. TFS's framework and tools are also aligned with the UN Global Compact and Responsible Care principles, as well as the United Nations Sustainable Development Goals (SDGs), reflecting the chemical industry's commitment and responsibility for sustainability.
Through its frameworks and tools, TFS sets an example for sustainable procurement in the chemical industry in the following ways:
Improve the ESG performance of chemical companies and their suppliers
By participating in TFS assessments and audits, chemical companies and their suppliers can understand the strengths and weaknesses of their ESG performance, identify opportunities for improvement, develop corrective action plans (CAPs), and track progress. They can take advantage of the training and support provided by TFS to improve their ESG knowledge and skills and enhance their sustainable sourcing capabilities. They can also enhance the comparability and credibility of their ESG performance through TFS's global standards, and enhance their competitiveness and reputation.
Drive collaboration and innovation in the chemical industry
As a member of TFS, chemical companies and their suppliers can join a strong TFS community to communicate and collaborate with chemical companies and operators from around the world, share best practices, drive improvements, and jointly address ESG challenges and opportunities. They can also participate in various TFS activities, such as TFS conferences, TFS regional operating committees, TFS working groups, TFS Academy, TFS lectures, etc., to expand their network and horizons, and obtain the latest industry trends and trends.
Promote the sustainable development of the chemical industry
Through the activities and achievements of TFS, chemical companies and their leading suppliers have demonstrated the performance and progress of the chemical industry in terms of ESG to customers, investors, regulators, society and other stakeholders in the chemical industry, and improved the trust and reputation of the chemical industry. They also use TFS tools to promote their own low-carbon, safe and ethical operations, reduce their own environmental pollution, protect their human rights, improve their own governance, and strive for a sustainable future.
TFS is an exemplary initiative and network for sustainable procurement in the chemical industry, which helps chemical companies and their suppliers improve their ESG performance by providing a set of globally applicable frameworks and tools, while also promoting collaboration and innovation in the chemical industry, and supporting the sustainable development of the chemical industry.
TFS audits