ESG Goals in Procurement

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Questions and Answers

Which of the following is a benefit of applying codes of practice to support ESG goals in business decision-making processes?

  • It reduces the need for ethical sourcing
  • It guarantees financial success for the organization
  • It increases the risk of corruption
  • It ensures compliance with good governance standards (correct)

Why is developing an ethical code of practice important for procurement professionals?

  • It increases their chances of witnessing unethical practices
  • It allows them to bypass ethical considerations
  • It helps them make better sourcing decisions (correct)
  • It establishes their authority within the organization

What does it indicate when a supplier publishes its code of ethics?

  • Their focus on financial success
  • Their lack of concern for ESG goals
  • Their commitment to ethical conduct (correct)
  • Their intention to engage in corrupt practices

Which level is the code of ethics implemented within a single organization?

<p>Organizational level (C)</p> Signup and view all the answers

Which organization provides a comprehensive Code of Conduct for procurement professionals worldwide?

<p>Chartered Institute of Procurement &amp; Supply (CIPS) (A)</p> Signup and view all the answers

What is the purpose of developing and implementing an ethical code of conduct?

<p>To reduce the potential risk of corruption or unethical practices (B)</p> Signup and view all the answers

What does GlobalTech Inc. do to regain trust and promote ethical conduct?

<p>All of the above (D)</p> Signup and view all the answers

Which of the following is a key reason for evaluating suppliers based on adherence to ESG principles in procurement and supply?

<p>To reduce environmental impact (A)</p> Signup and view all the answers

What is the main purpose of an ethical code of practice in a business operation?

<p>To provide assurance for the entire organization (A)</p> Signup and view all the answers

Why is developing an ethical code of practice important for suppliers?

<p>To signal commitment to ethical conduct (D)</p> Signup and view all the answers

Which level of ethical code implementation applies to the Responsible Jewellery Council's code of practices?

<p>Sector level (B)</p> Signup and view all the answers

What is one of the key principles outlined in Google's Code of Conduct?

<p>All of the above (D)</p> Signup and view all the answers

What is the purpose of implementing ethical codes of conduct at the profession level?

<p>To guide individuals in making ethical decisions (A)</p> Signup and view all the answers

What does the commitment to high ethical standards during supplier selection activities help reduce?

<p>The potential risk of corruption or unethical practices (D)</p> Signup and view all the answers

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