Why transparency matters
The benefits of transparency
Transparency is the public disclosure of data and policy that enables companies to be held to account. Such visibility can lead to improvements in the following four areas: environment, human rights, legal compliance and brand equity.
By making environmental impacts throughout a supply chain visible, buyers and suppliers are incentivised to improve environmental performance.
Greater transparency about labour conditions and wages can motivate buyers and suppliers to improve working conditions.
Some legal requirements on transparency are already in force, but more are expected in the future.
Disclosing information creates trust and positions a brand as being reliable and responsible.