As captains of industry, policy makers, academia and influencers gather at the annual summit in Davos under the theme “Stakeholders for a Cohesive and Sustainable World”, major industry leaders acknowledge that their companies do have a societal and environmental responsibility. Industries should raise the bar and for example show zero tolerance for corruption and respect human rights throughout their global supply chains.
The Together for Sustainability (TfS) initiative exactly meets this challenge of how an industry, in this case the chemical industry, can become a credible and reliable partner and stakeholder in this global societal quest for a better and more sustainable world. TfS delivers this innovative framework and tools to track and drive sustainability performance of chemical companies and their suppliers in areas relating to the environment, labor and human rights, ethics and sustainable procurement.
By creating transparency and taking accountability of and responsibility for the sustainability performance of their own operations, as well of the one of their supply chains, the TfS initiative ensures that member companies strengthen the trust among their different stakeholder groups as well in the entire chemical industry. TfS ensures that member companies and suppliers cooperate to not only assess or audit their sustainability performance, but to continuously improve this performance by implementing and working collaboratively on corrective action plans.
By thriving for higher standards for labor and human rights, higher ethical standards and sustainable procurement, chemical companies add real value to their business operations. The TfS initiative ensures businesses comply with all current and future laws and regulations. It provides chemical companies with an instrument to manage their business risk, show their value and contribution to and anticipate and manage expectations from a wide range of stakeholders (consumers, society, government, investors, owners and employers), remain a competitive market player and ensure their capacity for growth.