SUSTAINABILITY has become a key differentiator for companies, helping them achieve long-term value creation alongside organisational return on investment. Procurement processes can be an important part of these efforts.

Singapore’s Budget 2024 included a slew of initiatives to help companies in their sustainability journeys. Central to this shift is the concept of sustainable procurement, which goes beyond cost considerations to incorporate environmental, social, and governance (ESG) factors in purchasing decisions.

Traditionally, procurement has largely been focused on securing materials and services at competitive prices while maintaining supply chain resilience.