Our responsible purchasing principles
Read about how our purchasing principles are helping to build a better society for everyone and the environment.
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.
Building a better society for the mutual good of all
Sourcing goods and services responsibly and establishing meaningful relationships that demonstrate mutual value is integral to this. It’s why we established our Procurement for Mutual Good programme. From sourcing and contracting to payments and supplier relationship management, we aim to work with our third parties for a green, diverse and ethical supply chain.
Considering the impact purchasing practices have on members, our people, the environment and society is not just the right thing to do. It’s part of our Society strategy and supports our cornerstone ‘Building a National Treasure’. Additionally, it protects our reputation, enhances supply chain resilience, attracts and retains top talent and reduces long-term costs.
Our purchasing principles in more detail
Our Responsible Purchasing Principles highlight key considerations for all procurement and supplier management activities across Nationwide Building Society.
Avoid unnecessary consumption, seek opportunities to reuse or repair existing goods.
Engage with third parties on the environmental impact of goods and services and actively seek more environmentally responsible options.
Consider the cost of offsetting the greenhouse gas emissions associated with a good/service in line with our carbon neutral supply chain target of 2030.
Evaluate the end of use of goods procured and associated packaging. Place a preference on products where reuse or recycling can be arranged.
Encourage best practice in environmental management amongst third parties, particularly in relation to climate change, circular economy and animal welfare.
Consider using social enterprises and our commitment to Social Enterprise UK’s Buy Social Corporate Challenge.
Ensure opportunities are open for Micro, Small and Medium Enterprises (MSMEs) and minority-owned businesses.
Abide by all relevant laws and regulations.
Provide fair and on-time payments to third parties, in line with the UK Prompt Payment Code.
Promote best practice in worker welfare, including health and safety, wellbeing and inclusion.
Mitigate the risk of unethical business practices including, bribery, fraud, corruption and human rights abuses, such as modern slavery.
Share knowledge and collaborate to build capacity throughout Nationwide and with third parties.
Conduct all business relationships with respect, honesty and integrity.
These principles are reviewed annually and where necessary updated
The Shared Services Responsible Business Team is responsible for maintaining these principles. They provide support to colleagues with implementation through ongoing process improvements and training.