Manufacturing equitable climate solutions: balancing risks with sustainability

As we near the middle of this decade, CEOs continue to face critical choices such as prioritising eco-friendly practices or risk falling behind. Manufacturing CEOs must adopt a holistic and integrated approach that balances climate risk management with environmental justice to tackle climate change head-on. Environmental justice means ensuring equal protection from environmental hazards and decision-making access for all people, addressing pollution and access to clean air and water, regardless of race, colour, origin, or income. As the world’s largest polluting sector, responsible for one-fifth of global carbon emissions, manufacturing plays a critical role in advancing the sustainability agenda by addressing environmental justice and climate transition together. Unfortunately, climate change […]

The circular economy: 5 effective ways to cut waste and recover financial gains

As manufacturing CEOs grapple with today’s demands, such as reducing waste, circular economy initiatives present an attractive option for leaders to meet their sustainability and financial goals. Several companies, such as Apple, H&M and Patagonia, have demonstrated how sustainable supply chain practices not only reduce waste, but also drive fiscal performance and corporate responsibility. Apple’s recent update to its Self Service Repair programme grants iPhone users access to genuine used parts. This initiative not only offers owners more repair options and increases device longevity but also reduces Apple’s environmental impact. Meanwhile, Patagonia addresses the textile waste crisis (less than 1% of clothing material is recycled into new clothing!) by ensuring […]

排出ガス違反者から排出ガスの擁護者へ: CEO の製造が持続可能な前向きな変化をどのように推進できるか

The manufacturing industry is on the precipice of transformative change largely driven by the sustainability agenda. And CEOs are at the forefront of this change, needing to champion sustainability and environmental justice and also embrace innovative green technologies to cut greenhouse gas emissions (GHG). Yet, despite the pressing need for all businesses, regardless of size, to tackle this ecological threat, the International Energy Agency (IEA) reports that global energy-related emissions grew last year by 1.1%, reaching another record high. According to the World Meteorological Organization (WMO), there is no end in sight to rising greenhouse gas emissions, with manufacturers singled out as a major contributor. The United Nations Climate Change […]

製造コンプライアンスの確保：ビジネスの成功に不可欠な要素

In today’s competitive manufacturing landscape, CEOs must view compliance as more than a legal obligation—it’s a cornerstone of trust and a fundamental requirement for global business. By adhering to regulations and standards, you ensure product safety, quality, and ethical practices, which are essential for maintaining consumer confidence and avoiding costly penalties. Neglecting compliance leads to severe and far-reaching repercussions, as evidenced by the Volkswagen emissions scandal. This incident starkly reminds us of the critical importance of robust compliance measures in safeguarding your company’s reputation. Volkswagen’s compliance fiasco: when ‘going green’ means going rogue In the shadow of a sleek, innocent-looking Volkswagen brand (VW), a scandal unfolded that would send shockwaves […]

製造業の CEO が社会的リスクの軽減を巧みに乗り切る 5 つの方法

In the dynamic landscape of the evolving manufacturing sector, social risk mitigation has risen to prominence as a crucial business pillar demanding the attention of today’s modern CEO. To effectively navigate this realm, leaders must not only prioritise social risk mitigation but also champion human sustainability—a cornerstone initiative that involves businesses making positive contributions to human capital within society. A recent Deloitte survey revealed that eight out of ten CEOs are facing mounting pressure to publicly commit to enhancing human sustainability initiatives. Yet, to successfully manage social risk, manufacturers must embrace human sustainability and pivot from a business-focused approach to a people-centric mindset. Human sustainability MUST be a key aspect […]

EUDR and how COSIRI-24 can help

The impact of the EU Deforestation Regulation (EUDR) Understanding the implications of the EU Deforestation Regulation (EUDR) is crucial for companies to ensure compliance and mitigate risks. Effective December 30, 2024, the EUDR will require businesses to submit comprehensive Due Diligence Statements. This new regulation is set to impact numerous industries by mandating proof that products entering or exiting the EU are free from recent deforestation and forest degradation. The Consumer Sustainability Industry Readiness Index (COSIRI) offers a robust framework to help businesses navigate these new regulatory requirements. Seven critical dimensions within the COSIRI-24 framework including Compliance Risk, Supplier Assessment, Sustainable Procurement Process, Supply Chain Planning, Product Design, Technology Adoption, […]

製造業の社会的持続可能性: 変化を促進し、ビジネスの成長を促進する

In the current modern marketplace, discerning consumers and investors are becoming more and more attuned to the need for commercial production to uphold rigorous environmental, social, and governance (ESG) standards, supporting their values of stewardship for the planet and the community. What does the “social” in ESG mean to manufacturers? Social sustainability in manufacturing involves ensuring fair treatment of workers throughout the supply chain, fostering positive relationships with local communities, upholding human rights standards, and promoting the well-being of employees. In recent decades, the concept has expanded to include broader considerations such as environmental impact, corporate social responsibility (CSR), and ethical sourcing. Today, countries worldwide have regulations in place to […]

How smart manufacturing can drive sustainability and equity

It’s not an exaggeration to say that the world has developed at an incredible pace in the last few centuries. Collectively, we have made several transformational leaps and bounds throughout history, and the rate of change is only getting faster over time. Part of this transformation includes the evolution of the manufacturing industry, and its development from using steam and machinery in the first Industrial Revolution, to the smart manufacturing solutions and technologies widely seen and used today in Industry 4.0. Smart manufacturing, also known as Industry 4.0, refers to the integration of advanced manufacturing technologies, data analytics, artificial intelligence, machine learning, and the Internet of Things (IoT) into the […]

製造業の持続可能性のためのデジタルファイナンスは実現可能でしょうか?

Money is no longer just cash or coins. Today you’ll find more instances of digital transactions compared to physical money, with cash use declining year each year. The growing adoption of digital solutions has naturally reshaped the financial landscape, leading to industries worldwide adopting new digital financing options to support their business initiatives. With sustainability and environmental, social, and governance (ESG) now a critical consideration for manufacturing companies worldwide, manufacturers are increasingly turning to digital financing to support their sustainability initiatives. Digital financing, also known as online financing, refers to the use of digital platforms and technologies to facilitate financial transactions, including lending, investing, and fundraising. This method of financing […]

What’s in store for 2024: 5 top manufacturing trends to watch

In 2023, manufacturers faced significant challenges ranging from geopolitical instabilities, skills shortages, and supply chain disruptions, further adding to the overall turbulence in the sector. Yet, despite these hurdles, manufacturers have remained committed to digital and sustainable progress—as is our commitment to help the industry reach these important goals. Over the last 12 months, we explored several important topics for the sector at large including advancing shopfloor intelligence, creating a circular economy, the importance of fair trade manufacturing, the rise of digital supply chains, the potential of microfactories, AI and hyperautomation, developing increased cyber resilience, why hyper-personalisation is changing production, and generative AI and the industrial metaverse. We covered significant […]

Global Sustainability Prioritisation Index to accelerate the journey to net zero for manufacturers

Monday, 27 February 2023, Singapore. At the recent World Economic Forum Annual Meeting 2023 in Davos, the International Centre for Industrial Transformation (INCIT) launched its Consumer Sustainability Industry Readiness Index, or COSIRI. The first of its kind, COSIRI is an independent, manufacturer-centric framework that is set to benchmark the sustainability maturity of global industry players and their ESG transparency and reporting. The World Economic Forum, INCIT, and business and technology transformation company Capgemini will join forces to scale and accelerate COSIRI. COSIRI guides manufacturers to make more informed decisions on sustainable transformation based on COSIRI-system-generated proposed next steps. Additionally, the COSIRI framework includes a sustainability star rating system that indicates […]

INCIT launches Global Sustainability Prioritisation Index COSIRI: applications open for training and examination

INCIT has launched its newest framework, the Consumer Sustainability Industry Readiness Index (COSIRI). COSIRI is an unbiased, structured manufacturer-centric framework that is set to benchmark the sustainability maturity of global industry players and their ESG transparency and reporting. It provides a holistic view, incorporating all sustainability elements. Designed with Development Partner McKinsey & Company, COSIRI will help manufacturers make more informed and sustainable transformation decisions through system-generated proposed next steps. COSIRI also introduces a sustainability star rating system that indicates the carbon dioxide reduction of the manufacturer. Organisations that wish to assess their sustainability performance using COSIRI will be evaluated across four dimensions: strategic climate risk mitigation, sustainable business processes, clean […]