AngloGold Ashanti and C2FO Discuss How to Bring Finance into the Sustainability Equation

Many organizations today are moving forward with sustainability initiatives. But how are they integrating them into their business operations and what are the costs involved? How does sustainability jibe with a company’s financial goals?  

In this 18-minute presentation from the November World Procurement Congress 2020, Colin Sharp, C2FO’s SVP for EMEA, and Adam Weisswasser, SVP of global supply chain for South African gold mining company AngloGold Ashanti, discuss the benefits to corporates of “Bringing Finance into the Sustainability Equation.”

Weisswasser said that one of AngloGold Ashanti’s key priorities has been working closely with small-, medium- and micro-sized suppliers on solutions that benefit everyone’s financial and sustainability goals. 

“Our focus has been around how do we build capacity and skills transfer that allow them to lift their business over time,” he said. “One of our values has always been around the fact that we want to leave communities and societies better off for AngloGold Ashanti having been there.” 

Discussion topics at World Procurement Congress 2020 included:

• How C2FO provides dynamic supplier finance to help all sections of supply chains manage working capital. 
• How implementing environmental, social and corporate governance (ESG) principles into finance can benefit economies and communities around the world.
• The critical role of procurement in being a change agent and driving a “multiplier effect” to benefit suppliers, communities as well as company shareholders.
• The importance of helping suppliers of all sizes with lower-cost financing so they can meet their financial goals and maintain operations in the face of the COVID-19 pandemic.
• How corporates can identify and certify SMEs in their supply chains, providing a baseline through which to support easier access to capital.  

Providing quicker, less costly access to capital can be crucial in helping SMEs turn their focus to sustainability goals that benefit their communities and economies, C2FO’s Sharp said.

“If we can pump cheaper liquidity and get that to all those who need it, we’ve reduced their financing costs and in turn we’ve reduced yours,” he said. “If we can then use that to drive incentives and behaviours, and even working capital needs, to adopt sustainability and ESG tactics, then we achieve the balance of both of those goals.”