Sustainability in the value chain
As a major buyer with a significant annual purchasing volume, Storebrand wants to work with our suppliers towards more sustainable practices.
Our ambition
Storebrand considers sustainability in procurement, both through our minimum standards for suppliers and partners and by weighting sustainability at least 20 percent in procurement processes. Our ambition is that suppliers shall achieve net zero emissions by 2050.
Our approach
Our approach focuses on collaboration for continuous improvement towards more sustainable practices defined by the questions we ask suppliers and partners.
We select
Sustainability is weighted at least at least 20 per cent in our tender processes. Through the supplier mapping and evaluation, we give an advantage to suppliers that perform well on sustainability.
We influence
We use our position as a major buyer to influence suppliers and business partners for improvement. We do this both when we consider entering into new agreements and evaluating existing ones.
We exclude
Storebrand avoids choosing vendors, products or services that are in violation of international agreements, national regulations or internal policies. This is described in our sourcing principles.
Mapping suppliers
To get an overview of how good our suppliers are when it comes to sustainability, we are mapping suppliers with annual sales volume to Storebrand of more than 1 million NOK, through a questionnaire divided into the following main areas:
- How sustainability is integrated into suppliers' strategies
- Environmental performance over time and targets
- Diversity performance over time and targets
- Environmental, quality and management systems
- Suppliers shall report annually on progress. A similar set of questions are also used to evaluate suppliers in procurement processes.
What do we expect?
Our climate ambition:
Our ambition is for suppliers to achieve net-zero emissions from their operations by 2050 and sign a commitment to either:
- Set science-based targets aligned with relevant industry standards to reduce carbon emissions
Or
- Documenting that significant parts of theri deliveries contribute to Storebrand's strategy of increased reuse and repair
Suppliers shall in both instances:
- Measure and report on carbon emissions from the company
- Reduce carbon emissions as much as possible by its own means and introduce appropriate measures to compensate for own emissions that cannot be avoided in the short term
Human rights and decent working conditions:
We expect all our suppliers to take a concious approach to social conditions both in their own operations and in their supply chain. We encourage our suppliers to have:
- Guidelines and policies that safeguard human rights and decent working conditions, anchored at the highest level internally
- Corresponding guidelines for its contractors
- Established process to assess, mitigate and manage risks of human rights violations
- Established routines to follow up risks in their own supply chain
- Has signed and/or follow the UN Global Compact's 10 Principles for responsible business and ensures that subcontractors do the same
Furthermore, we want suppliers, upon request, to be able to state their most significant risk areas for violation of human rights and decent working conditions and how they follow up on these risk areas, both in their own business and in their supply chain.
Contact us!
If you have questions or other input related to the way we work with sustainable procurement, or if you need further information, feel free to send us an email. If you are one of our suppliers and have not yet received the supplier survey, please contact us as soon as possible.