EEG lecture challenges companies to go green in procurement strategies

Procurement is defined as "the acquisition of goods and services on the best possible terms - based on two criteria namely price and quality, with a view to maximizing benefits." Sustainable procurement broadens this framework taking into account the impact of procurement decisions on the "triple bottom line" of environment, society and economy.

Sustainability Specialist Mr. Michael Nates discussed the link between the way an organization procures its services and materials and its sustainability performance. He also tackled the common trend among organizations of choosing the option with the cheapest up front price without assessing or valuing the whole of life costs. The presentation likewise focused on the advantage of undertaking options that has the most value and contribution to current and future business operations.

Michael Nates, a sustainability specialist, discussed Sustainable Procurement as an important component of sustainability strategy, as it influences investment, operations, management, capital build up and institutional development. There is a wide array of sustainable procurement principles and practices, according to Mr. Nates.

The adoption of sustainable investment and purchasing principles will result in considerable resource and financial savings. Specifically it will contribute to local and economic development, lowering of carbon footprint, reducing waste, reducing consumption, improving well being and reducing cost. An important aspect of sustainable procurement is to analyze and categorize one's spending, viewing cost over the entire life cycle

Mr. Nates concluded his presentation by emphasizing that sustainability is not new and is not going to go away. Standards, targets and regulations will continue to increase so there is a need to focus on sustainability from the outset.

He then gave simple and practical ideas and approaches to implement the principles of sustainable procurement in the organization.

In her opening speech, EEG Chairperson Habiba Al Marashi said,

"Sustainable procurement has numerous applications like coming up with sustainable development criteria to spending and investment decisions for central and local governments given high-profile socio-economic and environmental concerns such as globalization and climate change. In business sustainable procurement is gauged by eco-friendliness as well as social policy issues like inclusiveness, equality and diversity to name a few."

At the end of the lecture, Mrs. Al Marashi thanked Michael Nates for his engaging presentation. She added that the topic is very useful for the country which has a consumer society and for business, in their pursuit of sustainable practices. A crystal was presented to Mr. Nates as a token of gratitude of EEG.

Mrs. Al Marashi informed the audience that EEG will be conducting a summer community lecture scheduled this July for the first time. She urged the people to spend one of their summer evenings with EEG to learn about important environmental issues and concerns.

Finally Mrs. Al Marashi thanked all the people who have regularly attended the lecture series. She then urged the corporations to apply for the Arabia CSR Awards which was launched by EEG on May 18th.

The community lecture is EEG's free public service on pressing environmental issues and concerns. It is attended by people from different backgrounds and orientations but having a common concern for the environment.