Introduction

This policy is titled “Sustainability Procurement and Purchase Policy” of the University.

The ICFAI Foundation for Higher Education (IFHE), a Deemed-to-be-University, is committed to procuring sustainably, aligning with environmental stewardship, social responsibility, and University sustainability principles and practices. This policy outlines our institution's commitment to sustainable procurement practices, including sourcing from local suppliers, prioritizing environmentally preferable products, and promoting social equity in our supply chain. By adhering to this policy, IFHE aims to minimize its environmental footprint, support local economies, and advance its commitment to University’s corporate social responsibility.

Objectives

1. Prioritize sustainability considerations in all procurement decisions aiming to minimize environmental impacts, support social equity, and promote economic resilience.
2. Increase procurement of environmentally sustainable products and services, including those with recycled content, eco-label certifications, and reduced packaging.
3. Support local and diverse suppliers, including cottage and small businesses, women self-help groups owned businesses, social and community owned enterprises, to foster economic development and social inclusion.
4. Enhance transparency and accountability in procurement processes, ensuring that sustainability criteria are integrated into supplier chain, selection, evaluation, and performance monitoring.
5. Educate and engage partners in these practices, including staff, suppliers, and the broader community, on the importance of sustainable procurement and their role in advancing our sustainability goals.

Policy Framework

1. Environmental Considerations
• Prioritize products and services with lower environmental impacts, including reduced energy consumption, greenhouse gas emissions, water usage, and waste generation.
• Give preference to products made from recycled materials, renewable resources, and biodegradable materials to promote circular economy principles and reduce reliance on finite resources.
• Require suppliers to adhere to environmental standards and certifications, such as Energy Star, EPEAT, Forest Stewardship Council (FSC), and Green Seal, where applicable.
2. Local Sourcing and Supplier Diversity
• Support local economies and reduce transportation-related emissions by sourcing goods and services from suppliers near the University.
• Promote diversity and inclusion in the supply chain by actively seeking out and partnering with small and women self-help groups owned businesses, and social and community enterprises.
• Establish supplier diversity goals and track progress towards increasing the participation of diverse suppliers in procurement opportunities.
3. Ethical and Social Responsibility
• Ensure that suppliers adhere to labor and human rights standards, including fair wages, safe working conditions, and non-discrimination policies, as outlined in relevant national and international conventions and standards, and adhere to statutory compliances.
• Conduct due diligence on suppliers to assess their ethical practices, including supply chain transparency, ethical sourcing of raw materials, and compliance with labor and environmental regulations.
• Incorporate social impact considerations into procurement decisions, such as supporting suppliers that provide fair wages, employee well-being, and community engagement initiatives.
4. Implementation and Governance
1. Establish a Committee to oversee the implementation, monitoring, and continuous improvement of sustainable procurement in the University.
2. Continuously develop procurement policies, procedures, and guidelines that incorporate sustainability criteria into procurement processes, vendor selection, and contract management.
3. Provide training and capacity-building support for procurement staff and stakeholders on sustainable procurement principles, best practices, and tools for assessing the performance of vendors on sustainability parameters.
4. Collaborate with other departments, academic units, and external partners to leverage expertise, resources, and networks in advancing sustainable procurement goals.
5. Review and update procurement practices, supplier performance metrics, and sustainability criteria to ensure alignment with evolving standards, regulations, and educational partners' expectations.
5. Monitoring and Evaluation
1. Establish key performance indicators (KPIs) and benchmarks to track progress towards attaining sustainable procurement goals, such as the percentage of environmentally preferable products purchased, the number of local and diverse suppliers engaged, and the reduction in environmental impacts.
2. Conduct regular assessments and audits of procurement processes, supplier practices, and product life cycles to identify opportunities for improvement and innovation.
3. Engage with suppliers through surveys, interviews, and feedback mechanisms to assess their sustainability performance, address concerns, and recognize exemplary practices.
4. Publish annual reports or dashboards to communicate progress, achievements, and challenges related to sustainable procurement efforts, providing transparency and accountability to stakeholders.

Review and Revision

This policy will be reviewed periodically to ensure its effectiveness and relevance, with revisions made as necessary in consultation with relevant stakeholders. Updates will be communicated transparently.

Conclusion

By adopting this Policy, the ICFAI Foundation for Higher Education reaffirms its commitment to responsible stewardship of resources, ethical business practices, and social inclusion. Through collaborative efforts and continuous improvement, IFHE strives to create positive environmental, social, and economic impacts in procurement activities, contributing to a more sustainable and resilient future for all.