Sustainability Strategy & Governance
GROUP STRATEGIC APPROACH
The Group proactively adopted Sustainability Reporting as an integral part of the business strategy which recognises and embeds environmental and social issues into how we operate. The Group believes that identifying, measuring and being accountable to our stakeholders through sustainability reporting (Economic, Environmental, Social and Governance) has potential for long term value creation and business success. The Group applied the Global Reporting Initiatives (GRI)’s G4 – Sustainability Reporting Guidelines for identifying and managing material sustainability issues. The guidelines facilitate the way we engage with our stakeholders, identify material issues, respond to matters and being accountable to our broad range stakeholders. The a long term business strategy is to build a business that is driven by inclusivity, responsiveness and sustainable business practices, while contributing to sustainable development in the places we operate. The Group’s sustainability disclosure approach is to ensure sustainability reporting performance indicators are matched with specific Sustainable Development Goals to which the Group would have contributed.
As part of this vision, the Group established Sustainability Teams in all the major companies. These teams are responsible for assisting management with the identification, evaluation and management of material issues pertaining to economic, environmental and social impacts and opportunities arising from our business operations. In addition, the teams are responsible for monitoring and evaluating systems of data collection, measurement criteria and quality of data collected. These teams report to the Group Sustainability Management Team leader under the oversight of Senior Group Management. The Sustainability Teams were instrumental in building and contributing to this sustainability report for the Group.
INCLUSIVITY AND RESPONSIVENESS
The Group adopted integration of stakeholder engagement in the overall corporate and risk management strategy of the business. Our approach is achieving meaningful business success that is anchored on sustainable relations with our stakeholders. Maintaining sustainable stakeholder relationships based on honesty, inclusivity and responsiveness is an integral capital of the Group. The Group’s stakeholder engagement strategy is a responsibility that is shared by all employees and management of the Group and is guided through adopted sustainability reporting guidelines and international best practices.
The Group believes that a sustainable supply chain is vital to maintaining and sustaining the Group’s brand names and image. Therefore, the Group provides systems which ensure that all suppliers are screened in addition to their track record and consideration of sustainability issues such as environmental, social, behaviour, corruption, statutory compliance and human rights practices. The Group tries to ensure that most suppliers share our common values when it comes to sustainable business practices and contribution to sustainable development.
SUSTAINABLE CAPITAL MANAGEMENT
The Group recognises the importance of sustainable capital management. The Group consider natural, human, intellectual, financial, manufacturing and social relations as capital for input into the Group’s business model. As such, the Group philosophy is embedded and considers these aspects from a capital perspective in the Group’s business models in creating and sustaining business value for our shareholders and other stakeholders in the short and long term.