ESG Voices: Optimising The Global Supply Chain
The forces of economic globalization, allied with innovations in transport and logistics, have resulted in the modern miracle of supply chains that permit access to any market on the planet.
However, since the supply chain covers all aspects of the product lifecycle to the point of sale or, as its said in the food sector, “from soil to shelf”, this naturally embodies a great deal of the energy and resources required to create and consume modern goods and products. So much so, in fact, that McKinsey’s research points to as much as 90% of greenhouse gas emissions (GHGs), as well as other direct environmental impact, as coming from consumer supply chains.
While this may seem alarming, it also points to the enormous potential for ESG initiatives in supply chain models that can drastically reduce the inputs required along the manufacturing and logistics pathway. All entities, whether multinationals or small- to medium-sized enterprises to vendors, (SMEs) stand to profit by continuous improvement in supply chain processes. The key to getting the ball rolling is understanding where your supply chain stands, and that involves insight from data and robust, secure processes for compliance.
Findings, a Tel Aviv-based company with global offices, is meeting the supply chain challenge head-on. Its scaleable ESG solution comprises a platform from which companies can real-time monitor their supply chain structure, automating the risk notification process for all vendors to increase accuracy, reduce response times (and related cost) and provide a clear understanding of the entire supply chain. More data means more transparency, and this is the start point for any optimization process that will both make the supply chain more efficient and more secure.
We spoke to Noemi Malska, General Manager for Europe at Findings, to discover more about her motivations in the space and its promise for the future of global supply chains.
How would you introduce yourself?
I consider myself as a citizen of the Earth. I was born in Poland, studied in Denmark, lived in Rotterdam, Tel Aviv and now I am based in Warsaw. I studied Business Information Systems, Management & Diplomacy.
I started my career in Tel Aviv at the Federation of Israeli Chambers of Commerce, then I worked at the Ventura Capital Fund, after a few years moved to startups and since then I have been involved in development of three innovative companies, mostly as a head of business development and board member.
In my spare time I am fully devoted to sports, books and building relations. Ashtanga Yoga has been my biggest passion since 2001, as well as cycling, sailing, equestrian jumping and gym.
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What is your sustainability story?
I would say it started more than 20 years ago, when I switched to cycling all year long - first to school, then to work. Eight years ago I stopped eating meat and became more involved in Ashtanga Yoga practice, which grew my breathing awareness, so I understood that clean air is so important and we cannot replace it with anything else.
Sustainability is a very broad aspect, there is not just one perfect way to follow it, but each of us can make some steps into it and contribute.
As for business activities, I entered the ESG space for the first time in 2014 when I was leading investment into one of the world’s first insect protein production startups. Later on I joined the board and contributed to the growth of the protein space. Insect production doesn’t require water as insects don’t drink, so it has negligible CO2 emission levels and very good nourishment. This is why it's a great alternative source of protein in pet food.
Together with Findings, more than a year ago we entered the ESG space and since then we have grown exponentially, serving institutions such as NASDAQ, London Stock Exchange Group, or companies listed there as well as the vendors.
Findings is an all-in-one supply chain automation company with a key focus on ESG. With Findings we are helping companies to analyze their ESG posture not only by self-assessment, but also by ESG data aggregation, analysis, and reporting from all of their suppliers. That brings scalability, clarity and data visibility to the whole ecosystem, which becomes more and more important for investors, clients, and all other stakeholders.
Why did you get involved with Findings?
I have always been involved in innovative technologies, and Findings is the leader in a new and very important space, third party risk management in broad compliance (compliance assessments, including cybersecurity, privacy, ESG, financial, and operational).
The world is an ever-growing connected landscape and the global supply chain ecosystem has to implement ESG aspects.
In this regard, Findings’ technology becomes essential as it is helping companies of all sizes to analyze risk and is safeguarding these organizations from supply chain threats while meeting rapidly evolving regulatory requirements. At the same time, we provide our platform for SMEs to help them with ongoing and growing compliance requirements that come from their clients.
I believe that Findings brings meaningful values & technology to business which impact all of us. We have ingenious plans for expansion in the years ahead and I couldn’t resist becoming a part of this journey.
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What is the most crucial aspect of the transition to sustainability?
First and foremost is understanding the need. It always starts from there.
The rapidly growing ESG & sustainable compliance space then guides the direction. Financial institutions are already measuring ESG factors and on this basis they can offer cheaper financing for businesses that align with the path to sustainability.
I think that the most crucial aspect depends both on the sector and the particular type of organization. One may focus on decreasing CO2 emissions while another company may put emphasis on checking whether their suppliers are using child labour. The current and upcoming regulations - such as the Corporate Sustainability Due Diligence Directive (CSDDD) - requires businesses to focus on many ESG aspects at once. Thus automated technology is going to play a significant role within the transition to sustainability for both big enterprises as well as for SMEs.
The aforementioned regulation puts great emphasis on the ecology and social aspects. Thus, at least in the view of CSDDD, these two areas seem to play the most important role. After all, we may assume that the majority of us prefer to live on a clean, green planet where all aspects of social equality are being respected.
How can we reduce the ’noise’ in ESG?
On the one hand, ‘noise’ is good because it may bring awareness to the topic. On the other hand, ‘noise’ usually contains some distortional information so doesn’t help in understanding the space. In my humble opinion, ESG & sustainability are following the regular path as with each new topic. First, there is ‘noise’ with many buzzwords and even sometimes repression. After that comes understanding, acceptance, and finally the implementation phase.
What each of us can do is raise awareness by sharing reliable information on a given topic.
At Findings we are running webinar sessions and newsletters, and we are engaged in many local and international projects that are bringing pure data and very user-friendly technology for enterprises and small and medium businesses (the vendor side). All this will reduce the ‘noise’ and help companies to jump into the implementation phase.
Find more ESG Voices as well as ESG news and views at our Featured Articles.