Responsible sourcing, also known as ethical sourcing, is a business practice that prioritizes social, environmental and economic aspects in procurement, production and delivery of goods and services. It involves taking a mindful approach to purchasing decisions, taking into account the wider impact of these decisions on the environment, local and global societies and the economy. The concept of responsible sourcing is closely linked with the following principles:
Responsible sourcing is becoming more important as consumers increasingly look to support businesses that align with their own ethical and sustainability values. This approach is also seen as a risk management strategy, as it can help businesses avoid the reputational damage associated with unethical sourcing practices.