Regenerative practices involve nurturing and restoring natural systems, actively improving biodiversity, soil health, water quality, and ecosystem resilience.
Procurement Objective:
Prioritise suppliers and contractors who demonstrate exemplary regenerative practices, including regenerative agriculture, land restoration, carbon sequestration, renewable energy utilisation, and waste reduction techniques.
Equitable Opportunities:
Equitable opportunities ensure fairness, justice, and equal access to procurement processes for all individuals and entities, regardless of their background, size, or financial status.
Procurement Objective:
Promote opportunities that empower disadvantaged groups, local communities, and minority-owned businesses, enabling them to participate and thrive within the supply chain.
Social Well-being:
Social well-being pertains to creating positive impacts on human health, education, living conditions, labour rights, and community development.
Procurement Objective:
Support suppliers and contractors who uphold diverse, fair, just and equitable practices, provide safe and healthy working environments, and contribute to local community development initiatives.
Encourage partnerships with organisations that prioritise social inclusion, diversity, and the well-being of their workforce.
Circular Economy:
A circular economy aims to minimise waste, conserve resources, and maximise the value of products and materials through strategies such as recycling, reusing, and regenerating.
Procurement Objective:
Give preference to suppliers and contractors who prioritise circular economy principles, such as designing products for durability, incorporating recyclable or compostable materials, promoting repairability, and implementing take-back programs.
Innovation and Collaboration:
Innovation and collaboration seek to foster partnerships and new ideas that accelerate the transition towards regenerative practices and systems.
Procurement Objective:
Engage with suppliers and contractors who foster innovation and collaborate on developing sustainable solutions that go beyond the status quo.
Encourage open dialogue and knowledge sharing to promote continuous improvement and learning.
Monitoring and Evaluation:
Regular monitoring and evaluation of procurement activities will be conducted to assess the effectiveness of this policy in achieving its intended objectives.
Collaborate with internal and external stakeholders, including suppliers, contractors, and local communities, to gather feedback and measure progress towards regenerative outcomes.
Communication and Transparency:
Transparently communicate the intentions, goals, and progress of this radically regenerative procurement policy to all relevant stakeholders within our organisation and beyond.
Foster open and honest communication with suppliers, contractors, and community representatives to ensure shared understanding and alignment with regenerative practices.
Training and Capacity-building:
Develop training programs to ensure employees involved in procurement processes understand the principles and requirements of this policy.
Support capacity-building initiatives for suppliers and contractors, facilitating their transition towards regenerative practices and providing resources for continuous improvement.
Compliance:
Compliance with this policy is mandatory for all employees engaged in procurement processes.
Non-compliance may result in appropriate corrective actions or consequences as outlined in our organisation's overall policies and procedures.
This regenerative procurement policy will be periodically reviewed and updated to stay at the forefront of regenerative practices, aligning with emerging industry standards and best practices.
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