During the 2018 annual meeting in Orlando, participants listened to a speech by Dr. Fiona Solomon, CEO of the Aluminum Management Initiative, on sustainability standards and certification issues in the raw material supply chain.
Solomon focused on the role of sustainability standards in influencing the procurement and production of a range of natural resource sectors, and so on.
Dr. Fiona Solomon said: “Most companies have already solved sustainability issues to some extent, while drawing lessons from the company’s policies and strategies.” He added that standards and certification programs are designed to help companies. They can be used to achieve the company's social and environmental goals, provide independent guarantees for systems and performance, support responsible procurement, and help "de-risk" the supply chain.
Dr. Fiona Solomon also put forward the business rationale for sustainability standards, including making complex supply chains easier to understand, mitigating risks, ensuring sustainable supply across the industry, meeting customer expectations, and ultimately reflecting the value and legacy of a company.
She said: "If your chain has a breakthrough, if you want to fully understand your system, it will be difficult to bypass it."
Solomon’s research mentioned the results of 40 studies that analyzed the benefits of companies using sustainability standards and the relevant influencing factors in four sectors: agriculture, fisheries, mining, and forestry. According to her research, 78% of people’s business has been improved, and 30% of people’s costs have been reduced.