Sustainable Procurement is a key area of focus for the Bank under the "Addressing Climate Change and Supporting The Transition To A Low Carbon Economy" pillar of our Sustainability Strategy.
We insist that all of our business activities are conducted lawfully, sustainably and above all, ethically. Our Sustainable Supplier Charter sets out our expectations, and is one of the many ways that we ensure that we purchase goods and engage with our suppliers in a responsible way.
We have categorised our Sustainable Supplier Charter into the following 7 core areas, in line with ISO20400 which outline our expectations of suppliers of PTSB. They include:
These core areas are underpinned by the United Nations Sustainable Development Goals, or SDGs as they are more commonly known. The SDGs were launched in 2015 to provide a plan of action for people, planet and prosperity.
The 17 goals act as an urgent call for action for countries to work together to develop strategies to tackle some of the world’s most critical issues. While we recognise that we may contribute to all 17 SDGs in some way, we have identified 6 as being core to our Sustainability Strategy.
Sustainable procurement is at the heart of our Sustainability Strategy and ensuring that we purchase goods and engage with our suppliers in a sustainable way is fundamental to the delivery of our Strategy. We set high standards for ourselves and for our suppliers.
We insist that all of our business activities are conducted lawfully, sustainably and above all, ethically. This Sustainable Supplier Charter acts as a Code of Conduct and details what is expected from our suppliers with regard to business practice and their responsibilities as a supplier [to] of PTSB.
It has been prepared in line with our Third-Party Risk Management Policy and our membership to the Financial Supplier Qualification System (‘FSQS’), an online platform where suppliers are required to submit their compliance data and sustainability information relating to their organisations.
All suppliers are expected to engage and comply with this Sustainable Supplier Charter.
We expect all of our suppliers to meet, or in some cases exceed, all provisions set out within this Sustainable Supplier Charter. We are committed to supporting our suppliers in navigating the green transition and to working alongside them to meet our sustainable procurement goals and objectives.
