<p><strong>A new report by banking giant HSBC states that the key to a smooth, prosperous supply chain of the future is sustainability.</strong></p><p>While the general consensus is that digitalisation is the precursor to major global change, HSBC has focused on sustainability for five key reasons, listed below:</p><ol><li><strong>BEING SUSTAINABLE IS SEEN AS VERY IMPORTANT GLOBALLY</strong><br>HSBC studies show that 81% of companies say ethical and environmental sustainability is important to them and 83% want to be a genuinely ethical or environmentally sustainable company. Almost one in five (17%) companies globally plan to increase their emphasis on their ethical and environmental standards.</li><li><strong>BUSINESSES HAVE MORE CONTROL AND SIGHT OVER THEIR SUPPLY CHAINS</strong><br>One in five companies globally (20%) say they’ve had greater control of their supply chain over the last two years. This presents a timely opportunity for businesses to assess their networks and take action to become more sustainable, which can help you remain competitive in an increasingly demanding trading environment.</li><li><strong>SUSTAINABILITY IS A BIG DRIVER OF SUPPLY CHAIN CHANGES</strong><br>Almost a third (31%) of businesses globally will be looking to make changes to their supply chains related to sustainability. Improving sustainability outcomes is the highest objective (27%) for making supply chain changes after reducing cost (38%) and increasing profits/ revenue (36%).</li><li><strong>BUSINESSES RECOGNISE THE FINANCIAL REWARDS OF BEING MORE SUSTAINABLE</strong><br>Cost savings and higher profits are a huge driver of sustainability supply chain changes. 84% of businesses are making ethically or environmentally sustainable changes to their supply chains to support cost efficiencies while 84% of companies are looking to make ethically or environmentally sustainable changes to improve revenues/ financial performance.</li><li><strong>PEER/ INDUSTRY RECOGNITION IS IMPORTANT</strong><br>85% of businesses want to achieve a sustainability standard recognised by their sector or market and 84% say it’s important to be perceived as ethically or environmentally sustainable.</li></ol><p><strong>Read more: </strong><a href="https://www.transportandlogisticsme.com/smart-sea-freight/2018/10/24/abu-dhabi-ports-opens-health-safety-environment-week"><strong>Abu Dhabi Ports Opens Health, Safety & Environment Week</strong></a></p>
