Lovely Professional University (LPU) is committed to sustainability in its working operation that includes procurement of materials and future investment goals. These guidelines are laid down with aim to integrate environmental, social, and governance (ESG) considerations into decision-making processes to minimize damaging environmental impact, promote ethical sourcing, and ensure long-term financial and ecological sustainability.

LPU’s sustainability objectives in terms of procurement and investments include but are not limited to:

• Reduction in environmental degradation impact: Prioritization of eco-friendly and reusable products and services to reduce carbon footprint and resource depletion.
• Promoting social responsibility: Ensuring fair labor practices, ethical sourcing, and inclusivity in procurement and investment decisions.
• Promoting circular economy: Supporting waste reduction, recycling initiatives, and responsible resource management.
• Enhancing financial sustainability: Investing in long-term, socially responsible projects and businesses that align with sustainability principles.
• Supporting sustainable practices: Encouraging vendors and investment partners to adopt sustainable practices and innovative solutions for a greener future.

LPU integrates sustainability into its procurement strategy through the following key areas:

• 3.1 Strategies for Sustainable Procurement
  
  
  • 3.1.1 Sustainable Practices for a Greener Future
    • Eco-friendly products: Preference to be given for energy-efficient, recyclable, biodegradable, and sustainably sourced materials and buying from local vendors.
    • Green suppliers: Partnering with vendors and suppliers that uphold environmental and social responsibility standards.
    • Lifecycle costing approach: Evaluation of the total environmental impact of a product/material, including production, usage, and disposal.
    • Sustainable building materials: Using environmentally responsible materials in construction and infrastructure development.
  • 3.1.2 Eco-Conscious Procurement Strategies
    • Carbon footprint reduction: Considering transportation viability, material packaging sustainability, and emissions occurring while making procurement decisions.
    • Water and energy efficiency: Selecting equipment and infrastructure that promote conservation of natural resources, like environment, water, soil, etc.
    • Waste reduction initiatives: Encouraging suppliers to minimize packaging waste and offer take-back or recycling programs.
  • 3.1.3 Ensuring Sustainable and Ethical Supply Chains
    • Supplier audits and compliance: Periodic assessment of suppliers’ sustainability credentials and adherence to ethical guidelines by monitoring mechanisms and audits.

LPU’s investment strategy aligns with sustainability principles to ensure ethical, responsible, and impactful financial decision-making.

• 4.1 Strategies for Sustainable Investments
  
  
  • 4.1.1 Investing in a Sustainable Future
    • ESG-focused investments: Allocation of funds to businesses and projects that prioritize environmental sustainability, social equity, and good governance.
    • Green and renewable energy investments: Support and promote initiatives in renewable energy, clean technology, and carbon-neutral enterprises.
  • 4.1.2 Responsible and Ethical Investment Strategies
    • Exclusion of harmful industries: Divestments in non-renewable resources like fossil fuels, deforestation, industries violating labor rights, and other non-sustainable sectors.
    • Risk management: Evaluation of environmental and social risks to mitigate long-term financial liabilities and reputation risks.
    • Transparency and reporting: Ensure accountability by disclosing sustainability-related investment decisions and their impacts publicly.
  • 4.1.3 Collaborative Efforts for Sustainable Growth
    • Partnerships for impact: Working with organizations and institutions that share LPU’s vision of a sustainable future.
    • Stakeholder engagement: Collaboration with stakeholders, financial institutions, and sustainability experts to align investment decisions with environmental and ethical standards.

To ensure the effective implementation of this Guidelines, LPU must have:

• Sustainability Committee to oversee procurement and investment strategies.
• Annual sustainability reports detailing progress and compliance with this Guidelines.
• Conduct regular audits and assessments of procurement and investment activities.
• Provide training and capacity-building programs for procurement and investment teams.
• Engage in continuous improvement initiatives by integrating new sustainability standards and best practices.

Lovely Professional University (LPU) is dedicated towards sustainable future with respect to procurement and investment decisions, ensuring that its operations contribute to a greener, more ethical, and financially sustainable future. By prioritizing eco-friendly products, responsible sourcing, and ESG-focused investments, LPU reinforces its commitment to environmental stewardship, social responsibility, and good governance. Through continuous monitoring, stakeholder collaboration, and adherence to best practices, LPU aims to drive positive change, inspire industry leadership, and uphold its vision of a sustainable future.

Click here to view Guidelines-Sustainable And Healthy Food Choices And Its Procurement