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Eliminate Reputational Risk Emanating From the Supply Chain

Excerpted from The Guardian |  October 31, 2013

To protect against reputational damage and the effects of climate change, do companies need to implement sustainable business practices throughout their supply chain?

Alongside identifying the cost of these externalities, Richard Waterer, head of Marsh Risk Consulting (UK), said companies needed to reduce the risk of reputational damage emanating from the supply chain. "There is more than one way to create profit," he said. "You can create it long term by reducing volatility in your business by saying, 'we will not walk consciously into a relationship or a contract where we know we are taking on risks that prove to be damaging to our reputation.'"

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