Why Transparency is Important for Different Sectors

24-08-2020

 

Transparency is becoming a vital part of operating in a competitive world and could be the difference between success and failure. Consumers, NGOs and governments are demanding more transparency than ever before from businesses.

There are legal obligations to report such as the EU Non-Financial Reporting Directive, US Dodd-Frank Wall Street Reform and Consumer Protection Act, and Timber Due Diligence to name just a few. There is also social pressure from consumers and NGOs for companies to be more transparent and to improve social and environmental conditions in their supply chains. Consumers have shown that they will reward a company for being transparent.

Navigating Through a Sea of Information

There’s a lot of information out there on transparency. Sometimes, too much. This excess of information can make it challenging to find the information on transparency that is relevant to your sector.

We want to make it easier for our members to access the information they need. To this end, we have gathered information on customer expectations, industry initiatives, stakeholders campaigns and government regulations in the sectors in which our members operate. We’ve put it all into one document and organised the information by sector.

We want to help our members stay informed, understand trends in supply chain transparency and learn more about the various stakeholder and regulatory demands. We also want to inspire our members to become more transparent by showing them how important it is and how they can achieve it.

We guide our members to become more transparent through programmes such as amfori BSCI, amfori BEPI and our Timber Due Diligence programme.

In the most recent addition to the amfori Transparency Toolkit, we have gathered information for a variety of sectors: food & beverages, apparel & textiles, toys, electronics, cosmetics, and paper & furniture. For an easy way to ensure that you are informed on the latest supply chain transparency trends and expectations for your sector, check out our guide.

Transparency Toolkit 2: Sectorial Trends and Expectations on Transparency

Transparency Toolkit 1: EU Regulatory Landscape on Transparency