Puma is now offering financial incentives to encourage its suppliers to improve environmental, health and safety, and social standards.
The program, which was designed in collaboration with BNP Paribas and the International Finance Corporation, uses a tiered ranking system to discount invoices and offer short-term working capital for suppliers who receive high ratings in Puma’s regular social and environmental audits.
Says Puma COO, Lars Sørensen, “This is the first program in our industry, which takes into consideration a supplier’s score in Puma’s environmental and sustainability rating as a bonus or malus on related fees. Thus our suppliers’ investments in sustainability are rewarded, which is an additional incentive for them to improve their environmental and social standards.”
Worldwide, Puma works with more than 300 external manufacturing partners, most of which are located in Asia, and distributes its products to more than 120 countries.
You can read more about Puma’s responsibility-rewarding financial incentives at Environmental Leader.
