Covestro drives collaboration with TfS to establish new sustainability standards for the company’s supply base. This initiative is integral elements of Covstro's commitment to sustainability in the supply chain.
In the initiative sustainability assessments and audit results of suppliers are exchanged through an IT platform. Sharing information with multiple customers reduces the number of double assessments and audits. It also significantly reduces time spent, resources used and overall costs. This enables both sourcing and supplying organizations to allocate resources more efficiently and to mutually improve sustainability standards in the global supply chains of the respective industries.
TfS focus not only on conducting audits or assessments, but also on capability building for suppliers for example through training courses and events. This supports suppliers in operating consistently with industry expectations on sustainability.
Together for Sustainability (TfS) aims at developing and implementing a global supplier engagement program that assesses and improves sustainability sourcing practices, including ecological and social aspects. It is based on best practices and builds on established principles – such as the United Nations Global Compact, the Responsible Care Global Charter as well as further standards.