Responsible Sourcing & Supply Chain Management
Our sustainable supply chain management program covers several key areas:
Our Vendor Code of Conduct
Our Vendor Code of Conduct (Code) is the cornerstone of our responsible sourcing and supply chain strategy and describes the expectations we have of our vendors to conduct business responsibly. It encompasses areas of ethical business practices, labor and human rights including paying living wages, creating inclusive work force practices and diverse supply chains, addressing the environmental impact of a vendor’s business and managing business continuity risk in the provision of goods and services to us. All vendors who wish to work with us are expected to adhere to the Code and are encouraged to communicate and enforce its provisions throughout their own organization and supply chain. The Code is regularly reviewed and updated and is available in 10 languages on our website.
Due Diligence Questions for New Vendors
We require vendors who wish to bid for the provision of goods and services to respond to specific due diligence questions relating to environmental stewardship and human rights, including modern slavery.
ESG Risk Screening and Management
We are committed to assessing 100% of our vendors for ESG risk and have embedded risk screening criteria into our vendor management platform, with the aim of identifying vendors with higher inherent ESG risks. This enables us to conduct deeper ESG assessments focused on our vendors’ controls to identify and mitigate any environmental, modern slavery and human trafficking concerns. Additionally, we screen all vendors against an extensive set of media, government and regulatory sources to identify potentially adverse information on environmental or human rights matters, both during the on-boarding process and during the life of vendor contracts.
We take seriously our responsibility to help protect, preserve and promote human rights. We are committed to assessing risks and acting to prevent modern slavery and human trafficking from taking place within our business and supply chain.
We publish a Statement on Modern Slavery and Human Trafficking annually which sets out the actions we have taken to assess and address the risks of modern slavery practices in our business or our supply chain.
As part of our overall sustainability program, our Vendor Diversity Program breaks down barriers to market access for small and diverse enterprises to unlock commercial opportunities with Goldman Sachs. We also look to our non-diverse vendors to support us in these goals. More information can be found on our Vendor Diversity website.
Read more on our progress in our latest Sustainability Report.