| Developed By: HR, Vendor Management, Procurement |
| Last Reviewed: 03/18/2024 |
SBM Management Services, LP (“SBM”) recognizes the critical importance of sustainability in securing a healthy planet and prosperous future for all. As part of our commitment to environmental stewardship, social responsibility, and economic viability, we have established this Sustainable Sourcing Policy. This document outlines the principles and practices that our vendors, contractors, and Category Managers are expected to follow to align with our sustainability goals.
Scope of the Policy
This policy applies to all vendors and contractors providing goods and services to SBM, as well as Category Managers responsible for procurement and supplier relationships.
Policy Statement
SBM Management Services, LP is commited to sustainable procurement, focusing on reducing environmental impact, upholding social equity and fair labor, and driving economic efficiency to deliver long-term value for our stakeholders We expect our Partners to share and uphold these values in their operations and business relationships.
Sustainable Sourcing Principles
Our Partners are expected to adhere to the following principles:
- Environmental Protection: Prioritize products and services that minimize harm to the environment. This includes reducing greenhouse gas emissions, conserving water and energy, and minimizing waste and pollution.
- Ethical Sourcing: Ensure that all products and services are sourced from suppliers that adhere to ethical business practices, including human rights, labor standards, and anti- corruption measures.
- Social Responsibility: Support suppliers that contribute positively to their communities, promote diversity and inclusion, and ensure safe and fair working conditions.
- Economic Viability: Foster long-term relationships with suppliers that provide economically viable solutions without compromising environmental and social standards.
- Innovation and Collaboration: Encourage innovation in sustainable practices and products, and collaborate with suppliers, industry peers, and other stakeholders to drive collective progress towards sustainability.
Implementation and Compliance
- Assessment and Selection: Incorporate sustainability criteria into vendor and product selectionprocesses. Conduct regular assessments of suppliers’ sustainability practices.
- Performance Monitoring: Establish key performance indicators (KPIs) related to sustainability and monitor supplier performance against these metrics.
- Capacity Building: Offer guidance and support to help suppliers improve their sustainability practices.
- Transparency and Reporting: Promote transparency in sourcing practices and report on progress towards sustainability goals.
- Continuous Improvement: Regularly review and update sourcing practices to reflect advancements in sustainable practices and changing sustainability challenges.
- Non-compliance with this policy may result in a review of the supplier relationship, including potential remediation measures or termination of contracts.
Reporting
- We encourage all our staff, suppliers, and customers to report any suspicion of Human Rights violations without fear of retaliation.
- Any staff, supplier, or customer who believes or suspects a breach of this policy has occurred or may occur must notify their manager or report it in accordance with our reporting procedures.
Training and Awareness
- All employees receive training on this policy as a part of their onboarding process.
- Training and resources will be provided to all relevant stakeholders to facilitate understanding and implementation of this policy.
Review
This policy will be reviewed regularly and may be amended at any time. We will monitor its use and effectiveness and update it as necessary.
Certification
By engaging with SBM, suppliers and contractors are certifying that they adhere to this policy or have in place an equivalent policy that is at least as stringent as ours.