Member Login    |    News    |     Event Calendar    |    Directory    |   Contact
Metropolitan Milwaukee Association of Commerce
  • JOIN
  • Membership
    • The benefits of joining
    • Member directory >
      • Member Spotlights
      • Talent Solutions Directory
    • What we do >
      • Talent >
        • Ranking Milwaukee County Schools
        • Education recommendations
        • Technology Education & Literacy in Schools (TEALS)
        • Career-based learning experiences
      • Growth
      • Livability
      • Equity
      • Peer metro comparison
    • Cost saving programs >
      • Health insurance plan
      • Office supply discount program
    • Events >
      • 2021 All Member Meeting
      • Diversity, Equity & Inclusion Summit
      • Talent Solution Series
      • Emerging Leaders Series
      • Global Business Insights Series
      • Member Orientation
      • Replay: The Business of MKE Series
      • Replay: Race Bridge Series
    • For members only >
      • Fall 2022 Impact Report
      • Sponsorship
      • Advertising
    • Need more info?
  • Networks
    • Leadership Council
    • President's Huddle
    • Executive roundtable program
    • FUEL Milwaukee for young professionals
    • Future 50 Awards Program
    • Networking Forum for referrals
    • Region of Choice Initiative
    • Roundtables for high-growth companies
    • World Trade Association
  • Advocacy
    • 2021-2022 Legislative Scorecard >
      • Senate Votes
      • Assembly Votes
    • Recent Legislative Wins
    • Funding Local Governments
    • Miller Park economic impact study
    • Wisconsin State Legislature
    • K-12 Education Recommendations
  • Economic Development
    • Milwaukee 7 Partnership for Economic Development
    • MKE Venture Mentoring Service
    • Milwaukee Development Corp. >
      • Rebuild & Revitalize Program
    • Milwaukee Urban Strategic Investment Corp. (MUSIC)
    • Milwaukee EB-5 Visa program
    • Starting a business >
      • BizStarts
      • New business planning guide
    • More about Milwaukee
  • Metro MKE
    • 2023 Navigate Business MKE
    • Business outlook survey
    • Economic trends
    • Local media listings
    • Major employers in metro Milwaukee
    • Metro Milwaukee demographics
    • Order a publication
    • Relocating a business
  • About
    • Board of directors
    • Career Opportunities at MMAC
    • Staff
    • Milwaukee Commerce magazine
    • Press releases
    • Members of the media >
      • Recent Media Coverage
    • Scholarships for minority students

Sustainable Supply Chains — Are You Ready?

6/22/2022

 
By: Glenn Margraff, Executive Vice President, Wintrust Commercial Banking

Globally, governments have enacted sustainability and supply chain laws holding companies responsible for the environmental impacts of their chains and the U.S. may soon follow.

Recently, companies have taken strides in unlocking the value in their environmental, social, and governance (ESG) strategies. Still, companies face challenges in adopting sustainability practices.

The evolving regulatory landscape  
  • In 2023, with expansion in 2024, Germany’s new Supply Chain Due Diligence Act requires large companies to ensure social and environmental standards are observed in their supply chains.
  • In February 2022, the European Commission adopted a proposal for a directive on corporate sustainabilitydue diligence.
  • In March 2022, the Securities and Exchange Commission proposed new rules aiming to enhance and standardize Climate-Related Disclosures for Investors.

The proposed rules would cover both Scope 1 and 2 and require registrants to disclose information about their direct greenhouse gas (GHG) emissions and indirect emissions.

In addition, if the registrant has a GHG emissions target or goal that includes Scope 3 emissions, they will be required to disclose from upstream and downstream activities in its value chain, with smaller companies being exempt.

Value chains are being scrutinized like never before
Supply chains have long since transitioned from linear and mostly domestic to intricate and interdependent global networks.

As some countries are known to be higher risk, common practices like Low-Cost Country Sourcing (LCCS) have greatly increased the ESG risks that lay within a company’s value chain.  

Meanwhile, according to IBM, consumers select brands based on how they align with their personal values. With sustainability a deciding factor, consumers want information on sourcing, how products are made or processed, and how they’re delivered.

With increased supply chain complexity and challenges of gathering data, limited supply chain visibility beyond tier 1 remains a real threat. “Many organizations are leaving themselves exposed to potential supply chain disruption and margin erosion by having limited visibility of their supply chains beyond the first tier,” reports a Deloitte survey.

Supply chain mapping; the first step in mitigating your risks
To combat the threats of opaque supply chains and the unforeseen risks, many companies are now turning to mapping. Mapping beyond tier-1 supply chain allows for increased transparency and more effective risk mitigation.

Although it’s impossible to mitigate all your risks, today’s technology allows for improved governance. Digital solutions are empowering companies to increase supply chain transparency, and perform the due diligence customers, employees, and investors expect.

Comments are closed.

    MMAC
    Sponsored Content

    Our award-winning quarterly magazine, Milwaukee Commerce, provides in-depth coverage of the top issues facing the metro Milwaukee business community.
    Become a advertiser>


    Current sponsors:

    All
    Associated Bank
    Building Advantage
    Delta Dental
    J.H. Findorff & Son
    Reinhart
    Spectrum Reach
    SVA Certified Public Accountants
    UnitedHealthcare
    Wells-Great Lakes
    Wintrust Commercial Banking

    RSS Feed

Copyright © 2023 Metropolitan Milwaukee Association of Commerce
All rights reserved.

301 W Wisconsin Ave., Ste. 220 | Milwaukee, WI 53203 
Tel 414/287-4100 | Fax 414/271-7753 | info@mmac.org
  |  Privacy Policy

  • JOIN
  • Membership
    • The benefits of joining
    • Member directory >
      • Member Spotlights
      • Talent Solutions Directory
    • What we do >
      • Talent >
        • Ranking Milwaukee County Schools
        • Education recommendations
        • Technology Education & Literacy in Schools (TEALS)
        • Career-based learning experiences
      • Growth
      • Livability
      • Equity
      • Peer metro comparison
    • Cost saving programs >
      • Health insurance plan
      • Office supply discount program
    • Events >
      • 2021 All Member Meeting
      • Diversity, Equity & Inclusion Summit
      • Talent Solution Series
      • Emerging Leaders Series
      • Global Business Insights Series
      • Member Orientation
      • Replay: The Business of MKE Series
      • Replay: Race Bridge Series
    • For members only >
      • Fall 2022 Impact Report
      • Sponsorship
      • Advertising
    • Need more info?
  • Networks
    • Leadership Council
    • President's Huddle
    • Executive roundtable program
    • FUEL Milwaukee for young professionals
    • Future 50 Awards Program
    • Networking Forum for referrals
    • Region of Choice Initiative
    • Roundtables for high-growth companies
    • World Trade Association
  • Advocacy
    • 2021-2022 Legislative Scorecard >
      • Senate Votes
      • Assembly Votes
    • Recent Legislative Wins
    • Funding Local Governments
    • Miller Park economic impact study
    • Wisconsin State Legislature
    • K-12 Education Recommendations
  • Economic Development
    • Milwaukee 7 Partnership for Economic Development
    • MKE Venture Mentoring Service
    • Milwaukee Development Corp. >
      • Rebuild & Revitalize Program
    • Milwaukee Urban Strategic Investment Corp. (MUSIC)
    • Milwaukee EB-5 Visa program
    • Starting a business >
      • BizStarts
      • New business planning guide
    • More about Milwaukee
  • Metro MKE
    • 2023 Navigate Business MKE
    • Business outlook survey
    • Economic trends
    • Local media listings
    • Major employers in metro Milwaukee
    • Metro Milwaukee demographics
    • Order a publication
    • Relocating a business
  • About
    • Board of directors
    • Career Opportunities at MMAC
    • Staff
    • Milwaukee Commerce magazine
    • Press releases
    • Members of the media >
      • Recent Media Coverage
    • Scholarships for minority students