As part of its commitment to sustainable development and integrating sustainability within its business strategy, the Group has established a comprehensive sustainability management process as shown diagrammatically below. It is harmonized with environmental management systems, health and safety management systems and quality management systems utilised by the Group, and is also linked to the Group’s business processes such as risk management, internal audit, compliance and corporate social responsibility initiatives.
This framework enables the translation of general principles of sustainability into corporate practice by providing a systematic, step-by-step guidance towards a more sustainable business. The framework consists of a sustainability organisational structure supported keenly by senior management, a Sustainability Champion for each company, an internally developed spreadsheet platform for data gathering, quarterly reporting process of the Group’s sustainability performance, sustainability awareness creation, and internal and external sustainability assurance. While benchmarking and target-setting are part of the identified sustainability management framework, being the first year of reporting, the Group intends to measure and assess performance initially, and subsequently establish targets and benchmarks in the forthcoming years. The Group believes that the information derived from this process can then be used to assess its Group Companies on their performance, identify risk areas and manage them through corrective action.
This process is also an integral part of the Group’s overall risk management framework where the Group is able to identify and manage risks emanating from each of its stakeholder groups, in addition to the risks it identifies through its Enterprise Risk Management process.
This sustainability management framework will be periodically reviewed and updated to meet the operational requirements of the various companies of the Group.