* Establishing Baseline Measurement: To lessen its environmental impact, the firm needs to establish a baseline measurement of its supply base's sustainability performance.
* Third-Party Scorecard: Adapting a recognized third-party scorecard, such as those from the Global Reporting Initiative (GRI) or the Carbon Disclosure Project (CDP), provides a standardized and credible way to measure and compare the sustainability performance of suppliers.
* Advantages: This approach ensures consistency, objectivity, and comparability across suppliers, and leverages established methodologies and metrics for environmental performance assessment.
* Implementation: The firm can customize the scorecard to focus on specific environmental criteria relevant to its operations and community impact, ensuring alignment with its sustainability goals.
* Reference: Best practices in supply chain sustainability, as discussed in resources like the Sustainable Supply Chain Management Guide by the World Economic Forum and the GRI Standards, support the use of third-party scorecards for measuring and managing sustainability performance.