SUSTAINABILITY STRATEGY & GOVERNANCE
Our sustainability strategy is to ensure that we minimise negative impacts and related costs on the business and on our stakeholders, particularly those related to impacts on the environment.
GROUP STRATEGIC APPROACH
Sustainability continues to be firmly embedded into the Group’s corporate strategy. We recognise that sustainability is a significant driver to how we manage operational risk and drive the strategic positioning of the Group for long-term business success.
By integrating sustainability in our operational decision making and business strategy, we are able to identify potential risks and opportunities. Our sustainability strategy is to ensure that we minimise negative impacts and related costs on the business and on our stakeholders, particularly those related to the environment and society, through ensuring that there is a good balance with economic success.
Our sustainability strategy is implemented by adhering to international best practice and standards held by the Group companies, which include ISO 9001 (Quality Management System), ISO 22000 (Food Safety Management System), ISO 14000:2015 (Environmental Management System); ISO 45000:2018 (Occupational Health & Safety Management System); ISO 17025 (competence of testing and calibration laboratories); and FSSC 22000 (Food Safety Management) to manage environmental and social issues in many of the Group’s companies.
In addition, the Group places great emphasis on compliance with local laws, regulations and requirements in the places we operate. Furthermore, the Group keeps track of protocols and commitments adopted or signed by government, which have a bearing on business sustainability such as the Sustainable Development Goals (SDGs) and Climate Change (CC).
Principles and Considerations
The Group’s organisational governance is based on the principles of social responsibility which is incorporated into the Group’s decision making and implementation processes. These principles include:
- accountability for its impacts on society, the economy and the environment;
- transparency for its decisions and activities that impact on society and the environment;
- ethical behaviour where its behaviour should be based on the values of honesty, equity and integrity;
- respect for stakeholder interests whereby the Group respects, considers and responds to the interests of its stakeholders;
- respect for the rule of law where the Group accepts that respect for the rule of law is mandatory;
- respect for the international norms of behaviour where the Group respects international norms of behaviour, while adhering to the principle of respect for the rule of law;
- respect for human rights where human rights are respected and recognised both for their importance and their universality, promoting the rights set out in the International Bill of Human Rights;
- respect the welfare of animals, when affecting their lives and existence, including by providing decent conditions for keeping, breeding, producing, transporting and using animals.
Our sustainability management is structured into two levels, starting at the company level all the way to the Group. We have sustainability teams set up in our companies, tasked with identification, evaluation and assisting in managing our sustainability impacts on economic, environmental and social issues. In addition, the teams are responsible for monitoring and evaluating systems from which data is collected to ensure quality and reliability.
Inclusivity and Responsiveness
The Group respects, considers and responds to the interests of its stakeholders. Although the Group’s objectives may be limited to the interests of its owners, members and customers, other individuals or groups also have rights, claims or specific interests that we take into account.
- identify our stakeholders;
- recognise and have due regard for the interests as well as the legal rights of our stakeholders and respond to their expressed concerns;
- assess and take into account the relative ability of stakeholders to contact, engage with and influence the Group
- take into account the relation of our stakeholders’ interests to the broader expectations of society and to sustainable development, as well as the nature of the stakeholders’ relationship with the Group
- consider the views of stakeholders whose interests are likely to be affected by a decision or activity even if they have no formal role in the governance of the Group or are unaware of our interests.
The Group understands the relationship between the stakeholders’
interests that are affected by the Group, on the one hand, and the
expectations of society on the other. Although stakeholders are part
of society, they may have an interest that is not consistent with the
expectations of society nor have socially responsible behaviour.
Our corporate strategy is to maintain a sustainable supply chain which thrives on shared values. Supply chain management is a critical component in our business value chain and sustains our brand name and image. Therefore, the Group provides systems which ensure that all suppliers are screened on their track record and consideration of sustainability issues such as their policies on the environment, social welfare, anti-corruption, statutory compliance and human rights. The Group ensures that most of our suppliers share our common values for sustainability in our value chain. Appropriate training and support is provided to ensure quality standards and expectations are met.
Sustainable Capital Management
The Group recognises that it is critical to apply integrated thinking in the manner in which we manage the capitals of our business. The Group considers natural, human, intellectual, financial, manufacturing and social relations as capital input into our business model. Therefore, sustainable management of this capital remains a critical aspect of our business strategy formulation and execution, for creating and sustaining business value for our shareholders and stakeholders in the short and long term.