NSA Supply Chain Sustainability

NSA Supply Chain Sustainability Ethical transparent leadership, strategic interventions, information technology, risk management

29/05/2023

Revised governance code includes a focus on sustainability.

The Financial Reporting Council (FRC) has unveiled plans to revise its Corporate Governance Code for the first time in five years, aiming to bolster accountability among UK boards and directors.

The regulator’s proposals follow on from the government’s long-awaited response to a suggested shake-up of the UK’s audit and corporate governance regimes, which was triggered by the high-profile collapses of Carillion, Patisserie Valerie and others.

In an unexpected U-turn, the government’s response abandoned plans to create a tighter, US-style framework for internal controls, instead “inviting the regulator” to address the matter by strengthening the Corporate Governance Code.

The FRC has identified five key focal points among its proposed revisions. Among them are an increased focus on sustainability, an expectation of directors to disclose “material weaknesses or failures” and plans to strengthen company reporting on clawback arrangements affecting directors’ pay in the event of misconduct.

Why is the circular economy important? Why do we need a different approach to business? ‘Traditional’ industrial process...
24/05/2023

Why is the circular economy important? Why do we need a different approach to business? ‘Traditional’ industrial processes are a ‘linear economy’, meaning we take materials, make something, use it and then dispose of it. We could even call it a ‘waste economy’!

Take, make, waste

Modern lifestyles rely on finite resources – metals, minerals and fossil fuels. Our economy also relies on land and water – and we often forget that they are finite too. We dump waste and pollution at every stage of the process, destroying the living systems we depend on, and sometimes harming people. When we discard the product, we waste all those resources – and we waste all the energy, labour and knowledge we invested in the product at every stage in the process.

The linear economy relies on companies striving to sell more. We t create new ‘needs’, like antibacterial wipes for your kitchen, bottled water, probiotic yoghurt, or smart speakers.

We extract around 90 billion tons of natural resources annually to make what we consume. That’s more than 10 tons for every person on the planet. This trend is likely to double by 2050.

The systems we’ve created are shockingly wasteful. The Circularity Gap report says we recover less than 10 per cent of our resources to make them into new products.

We now know we are causing dangerous climate change by burning fossil fuels, using fertilizers and clearing forests, all of which creates greenhouse gas (GHG) emissions.

Our world population continues to grow, and people have more money to spend on food, clothing and other stuff but we are creating ever more demand for resources.

NSA specializes in supply chain sustainability. The design of circular economy. Our group of companies are geared with bankable projects, redesign of supply chains, re-engineering of processes, strategic planning for sustainability. Our approach aligns with KING IV requirements. Send us an email at [email protected]

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