PRESS RELEASE

New industry initiative aims to enhance transparency and drive improvements

In order to enhance sustainability within the supply chain the chemical companies AkzoNobel, BASF, Bayer, Clariant, Evonik Industries, Henkel, LANXESS and Solvay joined forces in the Together for Sustainability (TfS) initiative. So far, TfS members have successfully initiated about 2,000 assessments and audits. In 2014, TfS is expanding its activities in high growth sourcing markets, including Brazil, China and India.

TfS aims at developing and implementing a global supplier engagement program that assesses and improves sustainability sourcing practices, including ecological and social aspects. The initiative is based on best practices and builds on established principles – such as the United Nations Global Compact (UNGC) and the Responsible Care Global Charter as well as standards developed by the International Labor Organization (ILO), the International Organization for Standardization (ISO) and Social Accountability International (SAI).

Third Party Assessments and Audits

The TfS initiative involves assessments and audits of suppliers by independent experts:

Assessments

TfS selected EcoVadis, a global leader for Corporate Social Responsibility Assessments as its partner. Results are shared as sustainability scorecards on a joint web-based platform.

Audits

TfS works with independent audit firms to measure the supplier's sustainability performance against a pre-defined set of audit criteria tailored to the requirements of the chemical industry. They include management, environment, health & safety, labor & human rights, and governance topics. Audits comprise on-site examination covering, for  example, production facilities, warehouses and office buildings.

2014 marks the next phase of the initiative’s global roll out to additional sourcing markets and a further growth of TfS membership.

There are several benefits for suppliers participating in the TfS initiative. Sharing information with multiple customers reduces the number of double assessments and audits, and as such significantly reduces time, resources and overall costs. This will enable both sourcing and supplying organizations to allocate resources more efficiently and mutually improve sustainability standards in the global supply chains of the Chemical Industry.

Contact

infoindia@tfs-initiative.com