Procurement for mutual good
Read about how we source goods and services responsibly and build meaningful relationships with third parties.
This area of our website offers information about some of the things we do as a responsible business. For information about our range of products and services please visit our homepage.
At Nationwide, we're committed to building a better society
Integral to this is how we source goods and services responsibly and establish meaningful relationships that demonstrate mutual value. We established our Procurement for Mutual Good programme to do this. It is important that we work with our third parties for a greener, more diverse and more ethical supply chain, and they operate in a manner that reflects our values and ambitions.
Our Procurement for Mutual Good programme is underpinned by three pillars:
- Greener: combatting climate change and moving towards a circular economy.
- More diverse: promoting equality, inclusion and supply chain diversity.
- More ethical: tackling modern slavery, championing real living wages and paying promptly.
We've set out ambitions to:
- Eliminate single-use plastic from our operations by 2025.
- Achieve carbon neutrality for our supply chain by 2030, with minimal reliance on offsets.
- Participate in and promote the Buy Social Corporate Challenge by Social Enterprise UK.
- Support small third parties by targeting payments within 10 working days from invoice receipt.
- Continually take steps to mitigate the risk of modern slavery across our supply chain.
“Through our Procurement for Mutual Good programme, we aim to work with our suppliers towards a common goal – to protect people and planet, now and in the future. We’re striving for a green, diverse and ethical supply chain, both in terms of the products we procure and the partners we work with.”
Imran Rasul, Chief Procurement Officer
Our third party code of practice
We expect our third parties to support our Procurement for Mutual Good programme and ambitions. This includes complying with our Third Party Code of Practice – PDF, 1MB (opens in a new window) and the minimum green, diversity and ethical standards it sets out.
We aim to partner with third parties to meet these standards wherever relevant and strive to collaborate on projects to enhance collective sustainability performance.
Potential suppliers are screened to check they can meet the code’s standards at registration, alongside being asked about compliance with the UK Modern Slavery Act and decarbonisation targets. We have also partnered with EcoVadis to evaluate our suppliers’ sustainability performances on an ongoing basis and co-develop improvement plans where relevant.
With our Responsible Purchasing Principles we encourage our sourcing and third party management colleagues to prioritise green, diversity and ethical considerations. And we support them with further awareness raising and engagement activities.
“We recognise that good procurement is responsible procurement. Our Sourcing teams strive to enhance the quality of goods and services procured, which at Nationwide includes continually improving their responsible business performance.”
Hannah Coopey, Shared Services Responsible Business Senior Manager
We’re proud of the progress we’ve made and of the recognition we received from the Chartered Institute of Procurement and Supply for the Best Initiative to Deliver Social Value in 2020.