Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • Data Privacy
  • Français
  • my CNW 
    • Login
    • Register
  • Client Login 
    • Online Member Centre
    • Next Gen Communications Cloud
    • Cision Communications Cloud®
  • Sign Up
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
Advanced Search
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Canadian Federal Government
      • Canadian Municipal Government
      • Canadian Provincial Government
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

  • Advanced Search
  • Overview
  • Multichannel Amplification
  • Monitoring
  • Distribution
  • Multimedia
  • Guaranteed Paid Placement
  • AI Tools
  • IR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Hamburger menu
  • Cision Canada
  • Send a Release
  • FR
    • Phone

    • 877-269-7890 from 8 AM - 10 PM ET

    • ALL CONTACT INFO
    • Contact Cision

      877-269-7890
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Overview
  • Multichannel Amplification
  • Monitoring
  • Distribution
  • Multimedia
  • Guaranteed Paid Placement
  • AI Tools
  • IR
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR

ESG becomes a critical link in the supply chain for Canadian companies Français

KPMG Logo (CNW Group/KPMG LLP)

News provided by

KPMG LLP

Nov 01, 2022, 07:00 ET

Share this article

Share toX

Share this article

Share toX

Recent KPMG in Canada survey finds nearly two thirds of small- and medium-sized businesses apply ESG principles in their supply chain but more than half struggle to articulate their story

TORONTO, Nov. 1, 2022 /CNW/ - In response to growing pressures from their stakeholders, Canadian companies are reevaluating their entire supply chain to determine the human, environmental, and socioeconomic impacts of their products or services, finds recent KPMG in Canada research.

Continue Reading
Creating more sustainable supply chains (CNW Group/KPMG LLP)
Creating more sustainable supply chains (CNW Group/KPMG LLP)

Almost two-thirds (64 per cent) of small- and medium-sized Canadian companies surveyed by KPMG say they currently factor environmental, social and governance (ESG) principles including climate change into their supply chain management. Similarly, 63 per cent also said that they have hired, or plan to hire, an "ethical sourcing manager" to ensure their suppliers are aligned to their ESG values in principle and practice. Such a role also entails monitoring supplier non-conformance and helping suppliers become compliant.

"The push in recent years from multinationals and governments to weave ESG into their procurement requirements is having an impact, as more and more suppliers, large and small, are striving to adhere to social and environmental standards," says Jean- François Letarte, Partner, Supply Chain Advisory, Management Consulting, KPMG in Canada. "The global COVID-19 pandemic and Russia-Ukraine conflict exposed the vulnerabilities in supply chains and brought ESG to the forefront of the corporate agenda. The supply chain is no longer a back-office function. The public, consumers, investors, and increasingly, regulators around the world today expect companies to pay more than lip service to ESG."

Mr. Letarte, KPMG's national subject matter adviser in procurement transformation, says it's no longer enough to know what your Tier 1 supplier is doing. Business executives are expected to have visibility upstream, that is, on all materials, people, and environmental factors that go into the product or service, and even influence their supply chain beyond the first tier to the second, third and so on. Mature organizations in the area of procurement convey their expectations and standards to their supplier base and build programs to monitor, measure, and influence their suppliers through their procurement requirements and in their critical supply contracts, he says.

"A company's ESG goals need to be intentional and implemented throughout the entire business, including procurement," he says. "It's one thing to have policies and observe progress year over year, but you need to embed ESG into your practices and put dedicated resources behind it, monitoring and adjusting specific actions over time, to deliver on your goals."

ESG in supply chain toolkit

Mr. Letarte points out that most companies find it challenging to follow through on their ESG policies. "Once they've reported on their normal state of affairs, a lot of companies then struggle to show tangible progress against their ESG goals," he says.

When asked to identify the challenges or barriers to delivering on their ESG goals, small- and medium-sized Canadian businesses surveyed by KPMG highlighted increased or frequently changing regulations, not having the appropriate technology and tools to effectively measure and track their ESG initiatives and lacking the skills and expertise to implement solutions. This can be especially difficult if you lack proper ESG measures with your suppliers, adds Mr. Letarte.

As a result, most companies find it difficult to clearly communicate their commitments and demonstrate progress. Six in ten (59 per cent) small- and medium-sized businesses acknowledged that they "struggle to articulate a compelling ESG story" and 61 per cent struggle to overcome stakeholder skepticism, or the perception of greenwashing. A similar percentage (61 per cent) say they expect to rely increasingly on external assurance or validation of their ESG data.

"If companies don't effectively set measures up and down their operations, they won't know if their investments are making a difference – and they'll lose the confidence of their investors, customers and employees," says Mr. Letarte. "The bar is being raised on reporting and monitoring, so it is critical that companies get this right and get it right quickly."

Accessibility and reliability of supplier data, both from internal systems and external sources, has shown to be one of the core capabilities that sets mature organizations apart, he says. Supplier data from third party sources coupled with transactional data of corporate information systems can derive highly valuable insights and lead to simulation and essential predictive supply chain capabilities. Data can and should inform and lead to better business decisions and it is no different with ESG, says Mr. Letarte.

Human Rights and Social Impacts

The public, customers, investors, and other stakeholders expect organizations to disclose their human rights impacts. They are asking businesses increasingly complex questions about social issues from modern slavery to social procurement that relate directly and indirectly to their operations. If companies do not identify and manage human rights risks and social impacts, they risk an erosion of trust, reputational damage, and potential legal and commercial risk ramifications, says Katie Dunphy, ESG Advisory Partner, KPMG in Canada.

"We're having these kinds of client conversations everyday," says Ms. Dunphy. "Our clients are increasingly requesting human rights advisory support and want to align their efforts to a global, principles-based framework instrument like the United Nations Guiding Principles on Business and Human Rights.

"These are complex issues that can be daunting for many companies," she says. "Businesses across all industries have a responsibility to respect human rights. This requires them to manage the risk of adverse human rights impacts through their own operations and, also through their value chains and business relationships. With increasing scrutiny on these critical business topics, stakeholders are seeking more and better disclosure, and it is essential that organizations improve the transparency of their efforts and communicate them clearly, regardless of where they are in their ESG journey."

KPMG in Canada surveyed business owners and C-suite executives at 503 small- and medium-sized Canadian companies from August 16 to Sept. 1, 2022, using Schlesinger Group's Methodify online research platform. Thirty-two (32) per cent of the companies reported annual gross revenue of over $500 million, 26 per cent between $300-$499 million, 18 per cent between $200-299 million, 16 per cent between $100-$199 million, and 8 per cent below $50 million. The vast majority (85 per cent) are privately held companies and the remaining 15 per cent are publicly traded. Fifty-seven per cent are family-owned businesses.

About KPMG in Canada 

KPMG LLP, a limited liability partnership, is a full-service Audit, Tax and Advisory firm owned and operated by Canadians. For over 150 years, our professionals have provided consulting, accounting, auditing, and tax services to Canadians, inspiring confidence, empowering change, and driving innovation. Guided by our core values of Integrity, Excellence, Courage, Together, For Better, KPMG employs more than 10,000 people in over 40 locations across Canada, serving private- and public-sector clients. KPMG is consistently ranked one of Canada's top employers and one of the best places to work in the country. 

The firm is established under the laws of Ontario and is a member of KPMG's global organization of independent member firms affiliated with KPMG International, a private English company limited by guarantee. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more information, see home.kpmg/ca 

SOURCE KPMG LLP

Caroline Van Hasselt, National Communications and Media Relations, KPMG in Canada, [email protected], (416) 777-3288; Katarina Lukich, National Communications and Media Relations, KPMG in Canada, [email protected], 416-468-7729

Modal title

Organization Profile

KPMG LLP

    Also from this source

  • Canadian businesses want tax system to drive investment and resilient economic growth

  • Canada is one of the least AI literate nations in the world, new research shows

  • Canada's construction industry gets serious about investing in technology as pressure mounts to do more with less

Contact Cision

  • 866-245-2317
    from 8 AM - 10 PM ET
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media

Products

  • Cision Communications Cloud®
  • Media Monitoring
  • Content Distribution
  • Multimedia Distribution
  • Measurement & Analytics
  • Investor Relations

About

  • About Cision Canada
  • About Cision
  • Media Partners
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud®
  • my CNW

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud
  • my CNW
877-269-7890
from 8 AM - 10 PM ET
  • Terms of Use
  • Information Security Policy
  • Site Map
  • Cookie Settings
  • Accessibility Statement
Copyright © 2025 CNW Group Ltd. All Rights Reserved. A Cision company.