In order to reduced costs, 33% UK businesses have cut back or delayed their human rights and climate-related supplier due diligence assessments over the last year, according to a survey carried out by procurement consultancy firm Ivalua.
The survey of 300 supply chain and procurement professionals also found that 41% have cut back or delayed green initiatives.
Almost two thirds (64%) of the respondents said they are balancing cost-cutting with maintaining regulatory compliance, while 60% said they are balancing budgetary considerations with efforts to identify and respond to supply chain risks.