Business
Global Collaboration: Strengthening International Paper's Supplier Network
NORTHAMPTON, MA / ACCESSWIRE / July 31, 2024 / Originally published in International Paper's 20...
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[{"type":"text","content":"Global Collaboration: Strengthening International Paper's Supplier NetworkNORTHAMPTON, MA / ACCESSWIRE / July 31, 2024 / Originally published in International Paper's 2023 Sustainability ReportOur global network is made up of more than 30,000 suppliers. Our suppliers' contribution is pivotal to our business success and the implementation of our Vision 2030 goals. We actively seek to work with suppliers who share our core values and commitment to ethical conduct. At International Paper, we hold our suppliers to high standards. We anticipate that the products and services they provide will be competitive, sustainable and meet our stakeholders' expectations. To this end, we have built our Third Party Code of Conduct into contractual agreements. This document sets out our expectations regarding workplace standards and business practices of our suppliers, along with their affiliates and others who are within their supply chain. 87% of our spend in 2023 was covered by the ThirdParty Code of Conduct or a supplier's own substantially similar code. We also screen potential suppliers for a wide variety of risks, including corruption risks.Building a diverse network of suppliersA diverse supplier base is an integral part of our supply chain, not only for what we procure but also in how we collaborate to bring innovative ideas to the table. Having a broad and diverse supplier base helps us meet our stakeholders' evolving needs. It also enables us to champion equitable and resilient communities as we work to reach our target of improving the lives of 100 million people in the places where we do business.Our Supplier Diversity program strives to develop, cultivate and promote diverse businesses while providing the highest quality materials and services at a competitive total cost. The program has three strands: identifying new diverse suppliers, building their capacity and serving diverse communities. To be eligible to be classified as a diverse supplier, suppliers must possess a valid certificate demonstrating that they are at least 51% owned, operated, managed and controlled by an individual or individuals in at least one of the following categories:Minority-owned business enterpriseWoman-owned business enterpriseDisability-owned business enterpriseSmall business enterpriseVeteran-owned business enterpriseHub-zone business enterpriseLesbian...