Global Collaboration: Strengthening International Paper's Supplier Network
Rhea-AI Summary
International Paper's 2023 Sustainability Report highlights the company's commitment to a robust and diverse supplier network. With over 30,000 suppliers, IP emphasizes ethical conduct and sustainability, incorporating its Third Party Code of Conduct into contractual agreements. In 2023, 87% of IP's spend was covered by this code or similar standards. The company's Supplier Diversity program focuses on developing and promoting diverse businesses, aiming to improve the lives of 100 million people in their operational areas. IP classifies diverse suppliers based on ownership categories including minority-owned, woman-owned, and veteran-owned enterprises. This approach not only meets stakeholder needs but also fosters innovation and supports equitable community development.
Positive
- 87% of spend in 2023 covered by Third Party Code of Conduct or similar standards
- Supplier Diversity program aims to improve lives of 100 million people
- Diverse supplier base fosters innovation and meets evolving stakeholder needs
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, IP gained 1.22%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NORTHAMPTON, MA / ACCESSWIRE / July 31, 2024 / Originally published in International Paper's 2023 Sustainability Report
Our global network is made up of more than 30,000 suppliers. Our suppliers' contribution is pivotal to our business success and the implementation of our Vision 2030 goals. We actively seek to work with suppliers who share our core values and commitment to ethical conduct. At International Paper, we hold our suppliers to high standards. We anticipate that the products and services they provide will be competitive, sustainable and meet our stakeholders' expectations. To this end, we have built our Third Party Code of Conduct into contractual agreements. This document sets out our expectations regarding workplace standards and business practices of our suppliers, along with their affiliates and others who are within their supply chain.
Building a diverse network of suppliers
A diverse supplier base is an integral part of our supply chain, not only for what we procure but also in how we collaborate to bring innovative ideas to the table. Having a broad and diverse supplier base helps us meet our stakeholders' evolving needs. It also enables us to champion equitable and resilient communities as we work to reach our target of improving the lives of 100 million people in the places where we do business.
Our Supplier Diversity program strives to develop, cultivate and promote diverse businesses while providing the highest quality materials and services at a competitive total cost. The program has three strands: identifying new diverse suppliers, building their capacity and serving diverse communities. To be eligible to be classified as a diverse supplier, suppliers must possess a valid certificate demonstrating that they are at least
Minority-owned business enterprise
Woman-owned business enterprise
Disability-owned business enterprise
Small business enterprise
Veteran-owned business enterprise
Hub-zone business enterprise
Lesbian, gay, bisexual and/or transgendered owned business enterprise
We nurture mutually beneficial relationships with these diverse suppliers at industry gatherings and other events. Once onboarded with IP, diverse suppliers can also register to join a database that is shared with other companies and customers, allowing them to access further opportunities for growth.
About International Paper
International Paper (NYSE:IP) is a global producer of sustainable packaging, pulp and other fiber-based products, and one of the world's largest recyclers. Headquartered in Memphis, Tenn., we employ approximately 39,000 colleagues globally who are committed to creating what's next. We serve customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2023 were
About International Paper - EMEA
In Europe, Middle East & Africa (EMEA), International Paper focuses on the production and marketing of fiber-based packaging and specialty pulp, employing approximately 4,400 people. As a leading supplier of high-quality corrugated containers for a multitude of applications, we serve customers throughout the region from our network of two recycled containerboard mills and 23 box plants in France, Italy, Morocco, Portugal and Spain. Specialty pulp is made in Gdansk, Poland. Other products available from International Paper in the region include a variety of Kraft linerboard and other pulp products.
Contact Info:
Spokesperson: International Paper Company
Website: https://www.3blmedia.com/profiles/international-paper-company
Email: info@3blmedia.com
SOURCE: International Paper Company
View the original press release on accesswire.com
FAQ
How many suppliers are in International Paper's global network?
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What are the main categories for diverse suppliers in International Paper's Supplier Diversity program?
What is the goal of International Paper's Supplier Diversity program regarding community impact?
