Government Funding to Help Sponsor the MVP Sustainable Supply Chain Program
There is a greater need to show responsibility towards our environment and be sustainable, NOW more than ever. As part of our sustainability program, Fourstar Connections has applied for the Massachusetts Workforce Training Grant in order to procure funding to conduct a training program on supply chain sustainability.
This grant request is a first-of-its-kind and has received endorsements from Massachusetts’ state representatives, Kate Hogan and Nicki Tsongas. Upon approval, this grant will help fund the More Value & Profit (MVP) Sustainable Supply Chain Program, which focuses on sustainability, supply chain transparency, and reporting to the carbon disclosure project and other customer requested disclosures—all things that will enable Fourstar to continue to lead and raise the sustainability bar for the cable assembly industry.
The MVP Sustainable Supply Chain Program
The MVP Sustainability Supply Chain Program aims to help companies with the new disclosures around conflict minerals and labor rights violations. Other areas of focus are on disclosures to the Carbon Disclosure Project, the identification of sustainability and intangible value driver baselines, and the creation of communication channels about the company’s sustainability efforts to stakeholders and potential investors. The program is designed to create more sustainable, profitable, and low-risk businesses, and empower them to help solve some of our human, environmental, and societal challenges. It also builds stronger community ties among businesses that have the common goal of being sustainable.
The proposed consortium member benefits include:
- Sharing best practices and advancing disclosure progress and awareness
- Facilitating access to funding and unique resources specific to the supply chain a given company needs, e.g., disclosures, company value creation, and risk mitigation
- Creating a network for consulting support and a forum for innovation and activism
- Leveraging the process to improve supply chain transparency and performance on a large scale
- Demonstrating ongoing improvements in conflict mineral filings
- Creating a community that supports efficient Dodd-Frank conflict mineral reporting and is prepared for new supply chain disclosure requirements, e.g., human trafficking/forced labor
Being a part of this program is not only advantageous for consortium members, but also for the company as a whole as well as the environment and the society in which it is operating.
Overall Company Benefits:
- Preparing for enforcement and reducing the risk of penalties or damage to reputation
- Trainings and education on the importance of sustainability strategies to the bottom line
- Elevating brand awareness and increasing ability to gain more market share
- Increasing access to capital
- Strengthening the compliance of the supply chain and mitigating supply chain risk
- Demonstrating social responsibility for stakeholders and investors
- Creating a streamlined process to verify disclosure accuracy and transparency
- Access to thought-leaders who are proactively prepared for additional supply chain disclosure requirements and integrated reporting
Once the grant is approved, we also aim to publish an annual sustainability report for Fourstar that showcases our progress in all the above-mentioned areas.
If you are a manufacturer looking to adopt similar initiatives, or a customer looking for sustainable and socially responsible cable assemblies or complex box build solutions, we would love to hear from you and find out more about your needs.