Many business publications, including Forbes and Harvard Business Review, say businesses of any sort should focus on sustainability. But why is it important for a medical supply business to be socially and environmentally responsible?
Some say it’s important because more and more customers want to do business with socially conscious companies. There’s evidence to back that assertion. Nearly 75% of global consumers say they would change their consumption habits to decrease the negative impact on the environment. Millennials say they are willing to pay more for sustainable products. And with sustainable product sales increasing by 20% over the past eight years, they’re proving that to be true.
But incorporating sustainability practices can’t be performative. To be effective, a business can’t simply give lip service to sustainability just to satisfy customers.
A sincere effort to be sustainable
Businesses must be sincere in their efforts to make a difference in the world. They must prove their practices address social ills, environmental issues and humanitarian concerns. Otherwise, it’s just words on paper instead of a values-driven approach to business.
Creating sustainable strategies helps address some of the most pressing challenges in the world today, such as climate change, human rights abuses, natural resource depletion, racial injustice and gender inequity.
At Cenmed, we want to do more than simply say we’re addressing these key issues. We want to prove that our strategies and practices are making a difference. We want to ensure our down-chain sources are using environmentally friendly practices and materials. We want our customers to feel comfortable buying from us, especially since the healthcare industry is a large generator of greenhouse gases.
Importance of sustainability in the biomedical sphere
Sustainability in the biomedical sector is particularly important since the healthcare industry as a whole accounts for 8.5% of the United States’ greenhouse gas emissions. That’s nearly as high as the agricultural industry. The federal government has asked hospitals and healthcare providers to take steps to reduce their greenhouse gas emissions to net zero by 2050.
Nearly 80% of healthcare-related emissions come from the medical supply chain. Since Cenmed is a key distributor of medical supplies to healthcare systems, hospitals and clinics, it’s vital to know exactly how our products impact the environment.
Cenmed awarded a ‘Bronze’ rating
To assess our corporate sustainability practices and supply chain impacts, Cenmed voluntarily sought a rating from EcoVadis, a global leader in sustainability ratings for companies of all shapes and sizes.
EcoVadis has rated 75,000 companies, providing a scorecard that details the environmental, social and ethical risks across 200+ purchasing categories in more than 160 countries. Companies are given a platinum, gold, silver or bronze medal, depending on the results of a sustainability performance review.
Cenmed received a Bronze Medal for our sustainability efforts. We scored highest in areas related to ethics, labor and human rights and are following guidance help us continue to grow our sustainability efforts in all areas.
It exemplifies Cenmed’s commitment to social responsibility and our desire to do the right thing, even when it’s not the easy thing. Let us help support your mission in Healthcare, Research and Science, Request a quote, today!