The Carbon Pricing for Procurement Initiative is a transformative effort aimed to accelerate global supply chain decarbonization. It was launched in 2024 to co-develop a set of principles for integrating carbon pricing into tender evaluation and supplier selection processes. By incentivizing suppliers to baseline and decarbonize their operations, the initiative fosters an approach designed by Procurement, for Procurement with a shared commitment to sustainability across industries.
Central to this effort is the creation of an actionable framework that enables Procurement professionals to incorporate carbon considerations into decision-making. By addressing the opportunities and challenges of integrating carbon pricing into procurement decisions, these principles aim to promote meaningful reductions in emissions while supporting suppliers in their sustainability journeys.
This initiative exemplifies the Sustainable Procurement Pledge’s (SPP) distinctive approach to driving change. Through our collaborative and inclusive work, the Carbon Pricing Principles were shaped within a safe, neutral space where industry leaders, procurement professionals and stakeholders came together to share insights and co-create solutions. Guided by the SPP Champions Program, diverse perspectives contributed to bold, practical outcomes that evolve with real-world application.
This initiative exemplifies SPP at its best. It has been driven by outstanding leadership from the SPP Champions, particularly Haleon and Bayer, who helped shape the carbon pricing principles, along with Oliver Hurrey, Founder of the Scope 3 Peer Group and an early champion of SPP. Their shared vision, along with the support of SPP, enabled the delivery of this important first iteration of the principles. The community has been mobilized through SPP’s Scope 3 Chapter, the Scope 3 Peer Group, and a network of ecosystem allies.
As this initiative progesses into phase 2, the piloting phase, its focus remains on aligning key principles and enhancing collective understanding of integrating carbon pricing in procurement decisions. Bain & Company supports this initiative phase through facilitation and synthesis of pilot group outputs, which will be shared with the broader procurement community. We have seen many using, testing, and feeding back to ensure the principles continue to evolve. By evaluating existing frameworks, addressing gaps, and engaging stakeholders, the Carbon Pricing Principles aim to deliver scalable, co-created solutions that drive lasting transformation in supply chain sustainability.
