Latest news with #sourcing
Korea Herald
5 days ago
- Business
- Korea Herald
Driving emissions transparency: INEOS Styrolution rolls out product carbon footprint calculations across global portfolio
FRANKFURT, Germany, June 16, 2025 /PRNewswire/ -- INEOS Styrolution now provides Product Carbon Footprint (PCF) data for all its products using a state-of-the-art tool, delivering transparent emissions data from raw material sourcing through manufacturing up until the factory gate. PCF data is calculated using the Atos PCF platform, with the methodology certified by TÜV Rheinland. With this data, customers can track scope 3.1 emissions for every product they purchase from INEOS Styrolution, supporting more accurate reporting, compliance with climate-related requirements, and increased supply chain transparency. "By measuring the carbon footprint of our global product portfolio, we take responsibility for our impact while enabling our customers to do the same," states Steve Harrington, CEO, INEOS Styrolution. "This tool enables us to be transparent about our emissions and product carbon footprints, while equipping our customers with the data they need to target scope 3 reductions and meet their climate targets." With automated, product-level carbon footprint calculations according to a certified methodology in place, INEOS Styrolution is among the few in the chemical industry offering its customers product-specific emissions data across its entire offering. Further information: Product Carbon Footprint (PCF) refers to the total greenhouse gas emissions associated with a product, from raw material extraction through manufacturing to the point it leaves the production site. This "cradle-to-gate" view helps companies and customers better understand the climate impact of individual products and identify opportunities to reduce emissions across the value chain. INEOS Styrolution's PCF methodology follows international standards, including ISO 14067:2018, the Together for Sustainability (TfS) PCF Guideline (V3.0), and the GHG Protocol. Scope 3 emissions refer to indirect greenhouse gas emissions that occur in the value chain of the reporting company – such as those from raw material production, logistics, product use, or disposal. Scope 3.1, a key subcategory, includes emissions from purchased goods and services – typically the largest share of emissions for manufacturing companies. About INEOS Styrolution INEOS Styrolution is the number one producer of high-performance styrenics, offering a broad portfolio that comprises styrene monomer, polystyrene, ABS, and advanced styrenics. The company delivers customised solutions for customers across automotive, healthcare, electronics, household, construction, packaging, toys, sports and leisure sectors. With more than 90 years of innovation in material science and 16 production sites worldwide, INEOS Styrolution combines global reach with local expertise to meet the evolving needs of its customers. This includes bringing safe, sustainable, and high-performing products to market and supporting their efforts toward meeting their sustainability targets. INEOS Styrolution is fully owned by INEOS Group.
BBC News
5 days ago
- Business
- BBC News
Amazon replaces local businesses as States' stationery supplier
Amazon is to replace local businesses as the stationery supplier to the States of Guernsey, following a review of its "sourcing process".The States of Guernsey's Procurement department said the worldwide online retailer had provided efficient and competitive rates compared to invited local and off-island suppliers, potentially saving it "up to £100,000 per annum based on anticipated purchases"."We previously had agreements in place with local suppliers for stationery, however, these agreements have come to an end," a States spokesperson said."While it's disappointing that a local supplier wasn't able to win this business, we have a responsibility to spend taxpayers' money responsibly." The department said stationery as a procurement category had not been reviewed fully for about five years."We use Amazon in the same way, and for the same reasons, that thousands of individuals and families use Amazon across the island," they continued."These are low value consumable items, often bought repetitively and across the business this amounts to several thousand transactions annually. It is therefore important that we can buy these efficiently and competitively." The procurement category was reviewed in 2024, during which the States "decided to undertake a sourcing process, inviting local and off-island suppliers". "The scoring for this tender process was weighted to recognise the economic benefit of having on-island suppliers, however, following a competitive tender process with on-island and off-island suppliers, even with this local weighting, Amazon were successfully awarded a framework agreement to supply stationery."We are expecting that this new agreement could save the States up to £100,000 per annum based on anticipated purchases."
Yahoo
13-06-2025
- Business
- Yahoo
Trump Touts Higher Duty Rate for Chinese Imports Under New Trade Deal
Hours after his cabinet announced that the United States would resume its previously agreed upon trade truce with China, President Donald Trump stoked confusion by revealing a new tariff rate of 55 percent for the sourcing superpower. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, along with U.S. Trade Representative Ambassador Jamieson Greer, traveled to London this week to sit down with Chinese trade officials following weeks of trade tensions and the crumbling of a provisional agreement solidified in Switzerland in mid-May. More from Sourcing Journal China-to-US Freight Rates 'No Longer Surging'-Is it All Downhill from Here? Trump Likely to Extend Tariff Pause as Negotiations Take Shape, Treasury Secretary Says China and US Return to Terms of May Trade Truce At the end of negotiations on Tuesday, Lutnick indicated that both sides had agreed to 'implement the Geneva consensus' upon approval from Trump and Chinese President Xi Jinping. That deal centered on the deferral of reciprocal duties—lowered on the U.S. side to 30 percent and China's side to 10 percent—for three months. But by Wednesday morning, Trump had Truthed new information about the deal, saying that China will now pay a 55-percent duty rate, while the U.S. will still be subject to 10-percent tariffs on any goods imported into China. An all-caps missive said the deal with China was done, though subject to final approval by Xi and himself. 'RELATIONSHIP IS EXCELLENT!' he wrote. The president did not elucidate the reasoning for the 55-percent rate, which appears on its face to be a a 25-percent increase from the May agreement. But a White House spokesperson, who spoke to The Guardian anonymously, said the rate includes Trump's 10-percent universal baseline tariffs, a previous 20-percent punitive duty for fentanyl trafficking and an existing 25-percent tariff on China-made goods. 'A reported 55 percent tariff on our largest supplier of American apparel and footwear, stacked on top of already high MFN and Section 301 rates is not a win for America,' Steve Lamar, president and CEO of the American Apparel and Footwear Association, said in a statement. 'We're closely watching for more details, but the reality is this: nearly all clothes and shoes sold in the U.S. are now subject to elevated tariff rates,' he added. 'These costs will hit American families hard especially as they get ready for back-to-school shopping and the holiday seasons. New trade deals that bring lower tariffs can't come soon enough.' At a budget meeting with the House Ways and Means Committee on Wednesday, Secretary Bessent seemed to hint that the China deal may be shakier than the president indicated in his post on Truth Social. 'China has a singular opportunity to stabilize its economy by shifting away from excess production towards greater consumption. But the country needs to be a reliable partner in trade negotiations,' he told the Committee. 'If China will course-correct by upholding its end of the initial trade agreement we outlined in Geneva last month, then a big, beautiful rebalancing of the world's two largest economies is possible.' Footwear Distributors and Retailers of America senior vice president Andy Polk told Sourcing Journal that he believes this week's trade talks represent 'more political marketing than anything else.' 'It is positive that high level talks continue in hopes of getting us closer to a tariff end-game,' he said. 'However, there doesn't seem to be anything rally new coming out of these talks, just a climb down from threats.' Calling the president's tariff calculations 'very confusing,' Polk said he believes the 55-percent rate includes the Section 301 duties from his first term, the 20-percent fentanyl-related tariffs and the 10-percent baseline duties for all trade partners, among others. 'It is not a new tariff rate he is adding, it just seems to be fuzzy tariff math on his part.''Perhaps these steps forward will continue to unlock other issues to reduce this trade impasse, but I am not sure they are tackling the big items in a speed we need,' Polk said. 'We need a real deal that reduces tariffs back to reasonable levels quickly, and one that stabilizes them so shoe companies aren't jolted around constantly.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Sedex enhances supply chain transparency with GRI licence
The development will ensure that Sedex's supply chain data is in line with GRI Standards and will facilitate efficient and reliable sustainability reporting. Sedex recently completed its platform transformation project, which spanned multiple years. The updated platform delivers essential features for procurement, compliance, and sustainability teams, such as site-specific visibility, user-friendly tools, efficient assessment procedures, reliable data, and effective reporting for intricate global supply chains. Sedex's evaluation methods and the platform's reporting functions are now in line with the GRI Standards concerning supply chain information. This includes general disclosures about supplier sites and employees, as well as issues like child labour, forced labour, water use, and waste management. The company assured its customers that their data from the Sedex Platform can be directly used in reports that comply with or reference the GRI Standards. This supports both investor and regulatory demands. GRI licensing software and tools programme senior manager Alex Chiodo said: 'After thoroughly testing and verifying the authentic representation of the GRI Standards in its tool functionalities, GRI is pleased to announce that Sedex is now an official Licensed Software and Tools Partner. This will help companies to better manage their data, simplify compliance with regulatory requirements and build trust with local and international stakeholders.' Sedex said its solutions aim to simplify challenges faced by businesses in meeting stakeholder expectations in sustainable risk management, responsible sourcing and reporting amid tariff uncertainties and regional disruptions. It supports sourcing flexibility, due diligence, resilience efforts, and compliance obligations. The Sedex Platform integrates various data sources such as third-party risk data, supplier self-assessments, and Sedex Members Ethical Trade Audit (SMETA) results into analytics and reports. This enables businesses to transform extensive global supply chain information into actionable strategies. The company said that new scorecard reports and summary dashboards on the platform enable businesses to identify critical suppliers by consolidating findings from SMETA audits with sustainability risk assessments and supplier governance/compliance practices. According to Sedex, integrated risk analysis tools on the platform combine global information with specific supplier and site-level data to generate custom risk scores. This assists teams in proactively managing risks with a clear basis for prioritising actions. Intuitive dashboards facilitate monitoring and reporting on supply chain sustainability issues and compliance performance. Furthermore, expanded API access allows customers to incorporate both risk assessments and SMETA audit data into their internal procurement systems for more comprehensive analysis within existing processes. Later this year, Sedex plans to introduce a customised GRI solution that will compile relevant data points from the Platform into a single report to further streamline sustainability reporting. Sedex CEO Jon Hancock said: 'Becoming GRI-licensed marks a major milestone for Sedex and our solutions for our customers. It affirms our role in enabling companies to go beyond minimum requirements and lead in transparent, responsible business practices through high-quality supply chain insights. 'Our customers have already resolved over 36,000 issues at supply chain sites this year, across labour practices, health and safety, environmental management and more – found at in-person SMETA audits. We're proud to deliver such a powerful solution for supply chain risk management, multi-tier due diligence, performance tracking and reporting.' In August last year, Sedex debuted three data-driven tools in 2024 to empower businesses to meet the evolving ESG challenges. "Sedex enhances supply chain transparency with GRI licence" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time Out
05-06-2025
- Business
- Time Out
Bangkok once again hosts THAIFEX – ANUGA ASIA, cementing its place as the global pantry
In the food and beverage world, it's not just what ends up on the plate or cup – it's the power plays behind the packaging, the flavour trends dressed up as lifestyle ideologies, the supply chains zigzagging across continents. In Bangkok, the act of eating is always loaded, whether it's a streetside bowl of noodles or a deal sealed over coconut milk lattes. So when THAIFEX – ANUGA ASIA made its annual return from May 27-31, it wasn't merely another entry in the events calendar. It was a billboard for where the industry is headed. One part trade show, two parts economic choreography, the 2025 edition arrived with the energy of possibility – transforming the city's steel and glass into a playground for culinary futures. The name might suggest something cinematic, but in reality, it's where the brightest minds in food come together to shape what – and how – the world eats next. Now in its 2025 edition, the event doubled down on its reputation as Asia-Pacific's command centre for all things edible. Yet this year, the energy felt different – more trends, more transformation, more impact for a better food future. Asia-Pacific's most influential F&B gathering has long been a place for people who think about food as more than sustenance. This year, it leaned further into that ambition, showcasing how eating has become an act of innovation, identity and even ideology. The geography of taste If borders are imaginary lines, this event blurred them entirely. With exhibitors from over 50 countries and first-time participants from Central Asia, Africa and Eastern Europe – including Gabon, Slovenia and Uzbekistan – THAIFEX took on the air of a diplomatic mission, albeit one conducted in bite-sized samples. Pavilions from Australia, Hong Kong and the Netherlands added to the show's international sprawl, turning Bangkok into a temporary capital of global sourcing. It wasn't just about new names. It was about new access. Emerging markets made their debut, and in doing so, expanded the definition of what (and who) belongs in the conversation about global food futures. Beyond the bite: food as function The central theme – 'Beyond Food Experience' – sounded like something out of a tech keynote, and the content lived up to it. What we're eating is changing, but so is why. Exhibitors pushed products that claimed to do more than satisfy hunger: brain-boosting drinks, gut-friendly snacks, climate-conscious proteins. At the Trend Zone, curated by Innova Market Insights, regional and global obsessions were decoded with the precision of data science: functional beverages, clean labels, alt-proteins rebranded as gourmet indulgence. Taste mattered – but so did utility. Chefs, Startups and Culinary Showdowns It wouldn't be THAIFEX without spectacle. The Thailand Ultimate Chef Challenge saw over 400 chefs compete in more than 20 categories, from reimagined Asian staples to molecular showstoppers. Judged by 57 experts from 12 countries, the event doubled as both sport and performance art. Meanwhile, THAIFEX – ANUGA Startup carved space for 30 disruptive newcomers, who pitched edible futures in front of buyers, investors and executives. From lab-grown seafood to mushroom-enhanced snacks, the message was clear: the food industry isn't just keeping up – it's driving forward. Tasting tomorrow In the Alternative Protein Taste and Flavour Challenge, trade visitors were invited to do what all trends eventually demand – have a taste. On May 27, they chewed, sipped and judged a line-up of plant-based and lab-grown contenders. Winners were announced the next day, though the larger point lingered: if the future of food is going to be radically different, it still needs to be delicious. By the time the final sample cup was tossed and the last exhibitor packed away their signage, it was clear that THAIFEX had once again managed to distil the mood of an entire industry. No longer content with just feeding people, the F&B world is now trying to rewire the way we think, shop, eat and live. And in Bangkok, where ancient recipes meet futuristic solutions, the future of food doesn't just feel possible – it feels inevitable. And if 2025 was anything to go by, next year's edition won't just pick up where it left off. THAIFEX – ANUGA ASIA will return bigger, better, bolder. You can catch it from May 26-30 2026 at IMPACT Muang Thong Thani. Bring an appetite – for ideas.
