Introduction
Purpose
This Sustainable Procurement Policy outlines Lascar Electronics’ commitment to sustainable purchasing practices. This policy is a guide for Lascar Electronics employees to understand what is meant by Sustainable Procurement and how we propose to work towards achieving it.
Definition
Sustainable Procurement, also sometimes referred to as ‘Responsible Sourcing’, is considering social, ethical and environmental principles in procurement processes and decisions, alongside other stakeholder requirements.
Scope
This applies to all Lascar Electronics employees regardless of employment agreement, position, or location. It applies to all sourcing and procurement activities within the Company, starting with assessing the need of a purchase, and ending with collaborative supplier improvements and innovation.
Objectives
Lascar Electronics’ Sustainable Procurement objectives include, but are not limited to:
- Complying with all relevant legislation and regulatory requirements
- Promoting sustainable procurement awareness and practices within our Company
- Including sustainable criteria when evaluating offers from suppliers
- Procuring sustainable products, goods, services, works and utilities
- Promoting sustainability throughout our supply chain
- Developing relationships with key suppliers to encourage continual sustainability improvements within their business
- Reducing Lascar Electronics’ Greenhouse Gas (GHG) emissions and carbon footprint
Responsibility
Management
Senior Leaders, Directors and Managers are responsible for implementing and overseeing procedures that incorporate social, ethical and environmental factors into purchasing decisions. They are responsible for providing guidance and training when required.
Employees
All employees should consider social, ethical and environmental factors alongside price, quality, reliability and established business relationships. Purchasing decisions should aim to reduce the Company’s environmental impact, promote social equity and reduce risk, while still meeting stakeholder obligations.
Social Equity
Lascar Electronics will ensure that our sourcing and procurement practices promote social equity. We will seek to work with suppliers that demonstrate a commitment to human rights, ethical business practices, and fair labour standards. The Company will not tolerate discrimination of any kind, and we recognize the value of diversity within our business and supply chain.
Environmental Impact
Lascar Electronics is committed to reducing our impact on the environment. We will seek to work with suppliers who monitor their environmental impact, with the aim of reducing it. We will prioritize products and services produced from certified sustainable sources, businesses with environmental certifications and suppliers with a strong commitment to sustainability.
Reporting And Monitoring
Lascar Electronics has a continual improvement approach to Sustainable Procurement throughout the Company. We continually monitor our progress and report related Key Performance Indicators within our annual ESG report. We are also committed to using a third-party business sustainability rating service, EcoVadis, or an equivalent. We encourage key suppliers to implement sustainable practices with the ultimate goal of building strong, long-term relationships with suppliers.
