The code marks a noteworthy response to the rapidly transforming demands for improved business practices and greater transparency on the international supply chain.
The new BSCI code is composed of a set of core principles and values that provide a practical reference point for retail and other importing companies towards the integration of social responsibility into the core of their supply chain management strategy. Based on BSCI’s extensive experience, the new Code was developed from broad stakeholder feedback from Europe and sourcing countries, gathered during an open consultation process that lasted for over a year. In this context, the new BSCI Code firmly acknowledges the crucial importance of responsible entrepreneurship to the supply chain today.
The 11 principles of the Code of Conduct that BSCI participants commit to implement in their supply chains are:
Making the principles of the Code really work in practice demands to look at supply chain sustainability differently. Other than checking boxes on sustainability KPI’s, frontrunners such as IKEA and Unilever are looking at creating sustainable innovations together with their partners, creating value while covering the 11 principles of the Code. This innovation drive requires a transparent mapping of opportunities from material issues, next to the existing risk assessments. For instance by investing in innovative companies such as DyeCoo that reduce environmental and/or social impact while offering good value.
Are you looking to improve the sustainable innovation performance of your supply chain or do you want to know more about applying the new BSCI Code? Contact Jan van der Kaaij, managing partner, at email@example.com or +31 6 28 02 18 80.
The Business Social Compliance Initiative (BSCI) was established in 2003 by the Foreign Trade Association (FTA) in order to avoid duplication of monitoring efforts and create consistency and harmonisation for companies to improve social compliance in global supply chains. With a decade of experience, BSCI has established a holistic framework for social compliance within the supply chain. Supported by this central framework, its participants take on the task of continuously improving labour conditions, and assume the responsibility of cascading social compliance throughout the entire supply chain.
Source: BSCI, Finch & Beak research