EconomyEditor's PickNewsSAP pledges to spend more on social, diverse businesses

1 year ago105 min
https://topinvestingtoday.com/wp-content/uploads/2020/10/LYNXMPEG9505A_L-obviYf.jpeg
imageStock Markets1 hour ago (Oct 05, 2020 11:10PM ET)

(C) Reuters. FILE PHOTO: SAP logo at SAP headquarters in Walldorf

BERLIN (Reuters) – SAP (DE:SAPG) will try to allocate 5% of its procurement spending to social enterprises and diverse businesses by 2025 to encourage greater social and environmental responsibility.

The German software group, which has 440,000 clients, appealed on Tuesday to other companies to join it in supporting small businesses owned and run by women or minorities.

SAP’s procurement initiative follows its launch in June of a product to help firms track greenhouse gas emissions in supply chains, backing a view that being transparent about their carbon footprint will be good for business.

The new initiative relates to so-called addressable spend, the share of a company’s procurement budget that can be allocated to social or diverse enterprises, which in SAP’s case equated to up to $60 million a year.

“We all need soap in our washrooms, landscaping for our offices, food and drink in our cafeterias, marketing services and office supplies. These and many more are all products and services provided by social enterprises and diverse businesses,” SAP board member Adaire Fox-Martin said.

“This is money we are spending anyway. Why not spend it with suppliers who are delivering social impact as well?”

SAP pledges to spend more on social, diverse businesses

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *