Product stewardship issue and actions

Although product stewardship is usually applied to the physical outputs from manufacturing, it can also be applied to the energy and resources used in service industries, such as consultancies producing documents and financial services investing in resource-intensive companies.

The process of product stewardship is not just a business-critical issue; it also addresses a number of key global environmental challenges. For example, innovative products that use less energy have a reduced impact on the climate and slow the depletion of the Earth’s natural resources.

The entire ‘value chain’ – the chain of people who input into all stages of the product lifecycle, such as product development staff, suppliers and customers – is an integral part of product stewardship, providing support to achieve a reduced ‘environmental footprint’.

In order to develop innovative products and partnerships that help to reduce impacts on the environment, your company should:

1. Consider the lifecycle costs, benefits and environmental impacts of its products and services
2. Reward innovation
3. Integrate sustainability considerations into core business processes
4. Include environmental criteria when selecting suppliers
5. Communicate the benefits of product stewardship to customers