Nestle has won the Gold Awards in the 2020 Supply Chain Finance Awards. Despite 2020 being a difficult year, the standard of entries for 2020 SCF awards remained ‘reassuringly high’, according to the judges.
Nestle’s efforts to combine supply chain financing with environmental, social and corporate governance (ESG) financing caught the judges’ eyes this year, with comments remarking that the entry was an ‘interesting and compelling story.’
The programme – which involves Nestle working with the receivables and payables trading platform CRX Markets – allows for ESG-compliant invoices to be uploaded and be given preferential financing terms from investors. The premise is to use financial incentives to encourage Nestle’s suppliers to meet high ESG standards.
‘Expanding ESG financing beyond capex helps to put a company into an excellent position given the growing attention around ESG,’ one judge remarked.
Nestle was one of four organisations short-listed for the Gold award, with the others being Richards Bay Minerals, Co-operative Group, and JK Tyres and Industries.
Roll of honour: SCF Awards Gold winners
2020 – Nestle