Sustainable finance
Sustainable Public Procurement
Using the state's enormous purchasing power to buy goods, works and services with reduced environmental and social impact.
Definition
Sustainable public procurement is a process whereby public authorities meet their needs for goods, services and works in a way that achieves value for money on a life-cycle basis, generating benefits for the organisation, society and the economy while minimising environmental damage. Public procurement typically represents 10–15% of GDP, making the state's purchasing choices a market-shaping force.
Overview
The overview for this term is being prepared.
Review
Help keep this definition useful and accurate.
Submitted reviews stay private until an editor decides whether to accept and attribute them.
Contribute to this entry
How would you like to contribute?
Every endorsement and suggested edit is checked by an editor before anything changes publicly.