Is blockchain the key to a more ESG-compliant supply chain?

The retail industry will need to overcome unprecedented challenges if it wants to mitigate environmental, social and governance (ESG) risks and improve visibility into its supply chains. Fortunately, help may be on the way.

The information age continues to dominate the business landscape, bringing with it the expectation of greater corporate transparency. The extent to which an organization’s business practices, operations and culture are open and accountable is a differentiator for consumers – and investors.

Today’s consumers and investors demand corporate transparency and monitor corporate actions to ensure they align with their own values. Businesses are listening, and many companies recognize the need to put “purpose” on a par with profits. As a result, leaders are beginning to prioritize ESG policies in their business operations.

Integrating ESG policies into business activities, however, presents its own challenges, and for the retail industry these challenges are particularly unique and broad.  And the growing pressure to implement ESG policies comes as the retail supply chain is experiencing issues so severe they can only be described as an existential threat.

In this concise report by DLA Piper and FTI Consulting, we explore the benefits of blockchain, including greater security, accuracy and cost efficiency, and show how blockchain is already being used to make significant improvements to supply chain management.

Authors

Guy Flynn
Partner, DLA Piper
Co-Chair, Blockchain and Digital Assets Group
+1 410.580.4149
guy.flynn@dlapiper.com

Lin Pang
Attorney, DLA Piper
+1 410.580.4490

lin.pang@dlapiper.com

Rodolfo Araujo, CFA
Senior Managing Director, FTI Consulting
Head of Corporate Governance & Activism
+1 202.346.8816
rodolfo.araujo@fticonsulting.com

Steven S. McNew
Senior Managing Director, FTI Consulting
Global Head – Blockchain Technology and Digital Assets
+1 936.232.9994
steve.mcnew@fticonsulting.com

Bill Post
Senior Managing Director, FTI Consulting
Supply Chain Global Solutions Practice Leader
+1 415.602.4554
bill.post@fticonsulting.com