Marketplace

We recognise the importance of engaging in responsible procurement that delivers not only long-term benefits to us as a firm, but will also benefit our stakeholders. Over the past 12 months we have made some progress in relation to our procurement processes. However we know we have more to do.

As part of our ISO 27001:2013 Certification process this year, our Risk and Compliance team developed a Supplier Code of Conduct for the firm. This outlines the high standards that the firm expects from our vendors within our supply chain. Whilst the code is part of the firm’s commitment to maintaining and maturing our information security management system, it also aims to source and manage suppliers that align with our own goals as a firm with respect to human rights, health and safety and the environment. It is circulated by our Risk and Compliance team to new suppliers, together with a vendor evaluation questionnaire, so that we as a firm can understand and assess the vendors that we are working with. Assessing all new and critical vendors ensures we can actively manage our suppliers in an increasingly complex and uncertain supply chain environment. Since the roll out of this new process, new vendors have provided a comprehensive update on their systems to give the firm assurances that our suppliers are aiming to adhere to best practice and to make adjustments where necessary to align with our high standards. Our Risk and Compliance team is responsible for sending the Code to new suppliers, together with a vendor evaluation questionnaire, to allow us to risk assess each supplier before on boarding.

In July 2021 the firm subscribed to the Ecovadis business sustainability ratings provider as part of the independent assessment of our sustainability practices. We were pleased to achieve silver standard accreditation. The process highlighted key areas for us to improve on as a business. Over the next 12 months we will continue to work on the suggestions documented to improve our current processes and policies and ultimately aim to be awarded the gold standard.