Step #1 Rethink Procurement Prioritizing sustainable suppliers is key to ESG efforts. Start by focusing on Closed Loop Spend Management, recommends Accenture. This process involves “baselining and rebuilding procurement-related costs from the bottom up (rather than cutting incrementally from the top down),” and it can lead to improved sustainability throughout the supply chain. Accenture recommends these 3 action items: Reflect Consider Measure Use analytics to get a sense When looking at potential Incorporate data around of where your company suppliers, give sustainability suppliers’ ESG efforts into currently stands with the same weight as you give the selection and review sustainable business more traditional factors, such process; incentivize suppliers practices. as reliability and price. to set higher goals.