Industry Initiatives
Partnering on Environmental, Social and Governance Practices in Supply Chains
Bayer participates in various industry initiatives, including the co-founded initiative Together for Sustainability (TfS), to address environmental, social and governance challenges in supply chains. Through these partnerships, Bayer takes part in ongoing industry dialogue about environmental, social and governance (ESG) performance and supply chain management standards.
As part of these initiatives, supplier sustainability assessments and audit results are shared among participating companies. The exchange of information provides procurement organizations and suppliers with a shared basis for discussing environmental, social and governance topics among suppliers assessed within these initiatives.
In addition to audits and assessments, these initiatives offer training programs and events related to supplier capability building. These measures reflect Bayer's objective of engaging with suppliers on industry requirements and supporting supplier development over time.
Together for Sustainability (TfS)
Together for Sustainability (TfS) is a joint initiative and global network of chemical companies that develops a common performance standard for chemical supply chains based on the three pillars of Environmental, Social and Governance (ESG). The TfS program is founded on the principles of the UN Global Compact and Responsible Care®.
Pharmaceutical Supply Chain Initiative (PSCI)
The Pharmaceutical Supply Chain Initiative (PSCI) brings together pharmaceutical and healthcare companies committed to working collaboratively to improve social, health, safety and environmental conditions in the communities in which they operate. Through collaboration and the sharing of knowledge and experience, PSCI members jointly promote supply chain management practices focused on social, ethical, safety and environmental aspects.
Sustainable Procurement Pledge (SPP)
The Sustainable Procurement Pledge (SPP) is an international non profit movement of procurement professionals, academics and practitioners. Following a bottom up approach, it is committed to empowering individuals to advance procurement practices that take environmental, social and governance considerations into account.
World Business Council for Sustainable Development (WBCSD)
The World Business Council for Sustainable Development (WBCSD) is an international network of leading companies, led by CEOs, that seeks to support the transition to a more resource efficient and lower emission economy. Through collaboration across industries and initiatives, such as Vision 2050 and the Partnership for Carbon Transparency (PACT), WBCSD develops tools, standards and policy recommendations intended to help companies implement their goals. WBCSD’s overarching vision is a future in which people can live well within the ecological limits of the planet.
Partnership for Carbon Transparency (PACT)
The Partnership for Carbon Transparency (PACT) is an initiative of WBCSD. It establishes a global standard for calculating consistent, comparable and credible Product Carbon Footprints (PCFs). Through this initiative, stakeholders across different value chains and industries, together with standard setting bodies, leading technology providers, reporting organizations and regulators, are brought together. In doing so, PACT promotes the harmonization, integration and exchange of PCF data across different systems and platforms.