" COMPANIES SHOULD EXPECT THAT ESG IS GOING TO BE AN INTEGRAL COMPONENT OF HOW THEY ' RE MEASURED ”
JIM CONNELL CPO AND HEAD OF GLOBAL SUPPLIER SERVICES JPMORGAN CHASE & CO .
When society wins , so too does the overall business community . " Companies should expect that ESG is going to be an integral component of how they ' re measured in their relationships ,” he adds . " And it all boils down to : are you spending your money in the right way , in a way that helps the community ? It ' s a hard thing to measure until you start looking at it in specific domains around diversity , sustainability , and governance . We ' re taking a programmatic approach to this , getting quantitative around our Gold Supplier community and how we would seek to influence both our direct spend and our suppliers ’ spend .”
In the coming 12 months , the bank anticipates firm progress in the growth plans that have already been submitted , with more opportunities as further Gold Supplier growth plans are approved . But it is the longterm vision that will enact real change , and bring the bank ’ s true ambition to life .
“ The larger purpose of all of this is to have companies develop sustainable programs that will create new diverse spend for decades into the future ,” Connell says . “ We ' d like to see this initiative cascaded to thousands of businesses because creating more inclusive supply chains across the wider business community will change the competitive landscape for diverse suppliers for generations to come .”
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