Our procurement spend spans all categories across the group to operate our business, from services including HR, professional services, group real estate, marketing and goods such as stationery and corporate items to IT systems and desktop hardware and software.
Our spend generates a positive economic impact in the marketplace and supports the development and growth of other companies within the supply chain. Legal & General aims to build a collaborative supplier ecosystem driven by value-adding partnerships with suppliers that supports innovative solutions.
Since 2021 we have been a member of the Social Enterprise UK. which is the biggest network of social enterprises in the UK. This membership allows for us to search and engage with suppliers for various products and services within the Social Enterprise UK community. If you would like further information, please contact firstname.lastname@example.org
It is critical we work closely with our suppliers to understand how materials are sourced, making sure they respect human rights, promote decent working conditions and improve sustainability across the supply chain.
We must drive responsible business practices and commercial impact through a robust sustainability strategy ensuring we identify metrics to change behaviours and KPI’s to monitor our success. We worked with Stronger Together in 2019/20 to formulate and implement a 5-year Modern Slavery Strategy and we partnered with 3Keel in 2021 to help us build our strategy and implementation for the sustainable sourcing principles statement and supporting toolkit.
We have a clear set of principles that provide guidance on our five key sustainable commitments outlined in our annual sustainability report. We are committed to the principles of sustainable procurement, and we expect our suppliers to present and supply sustainable solutions that encompass sound environmental and social principles.
All our suppliers must sign up to the Legal & General Supplier Code of Conduct which includes these topics. The sourcing and selection of goods and services from suppliers must take into consideration and comply with the latest environmental legislation. Supplier evaluation must also include consideration of any environmental risks associated with the goods or services procured. Procurement activities and decision making considers suppliers performance and track record in relation to key social factors including but not limited to Gender Pay Gap, Equality and Diversity.
Ensuring our systems and customers remain safely protected is one of our top priorities, and as a result, we operate a dedicated process to review and assess the security provisions of our suppliers. If unacceptable security concerns are identified during the review, we retain the right to decide to not contract on security grounds.
Our Chief Procurement Officer is responsible for the Legal & General Supplier Code of Conduct and for maintaining a supply chain that reflects and aligns to our own standards of conduct for how we do business. We use independent tools to monitor the reputational performance of suppliers. We hold regular meetings with our key suppliers to ensure risks are proactively managed, keep them up to date with ongoing projects and share pertinent knowledge on latest market trends, best practice and new technologies.
We strive to work with like-minded businesses; we therefore require suppliers to comply with our Supplier Code of Conduct and be able to demonstrate compliance. The purpose of our Supplier Code of Conduct is to safeguard the relationships between us and our suppliers and to establish standards that ensure our suppliers operate ethically, are environmentally responsible and that their workers are treated with respect and dignity. Our suppliers should also have suitably robust processes in place to maintain these standards and be able to provide evidence if required.
We actively participate in networking events on Sustainability in the supply-chain sharing best practice and driving change. We constantly seek to educate our business and suppliers to ensure that all sourcing, buying and supplier relationship management decisions are made with sustainable and ethical procurement in mind. We chair and co-ordinate bi-monthly Corporate Social Responsibility Procurement forums driving strategic initiatives and continuous improvement with our internal and external supply-chain.
If you are keen to participate in one of our events, please contact email@example.com