Throughout our 130+ years of history, our Group has strived to operate a sustainable business that produces quality products, creates jobs, acts with integrity and contributes to the economic, environmental and social well-being of the local communities we serve. In FY2018, we published our first Sustainability Report.
"Meeting the needs of the present without compromising the ability of the future to meet their needs."
Brundtland Commission, 1987
By embracing the Global Reporting Initiative (GRI) framework, we have now embarked on a journey towards a more holistic approach to social, environmental and economic performance. Sustainability has been firmly embedded in our annual plans and is one of five pillars driving our long-term strategic blueprint for growth. This commitment is reinforced by a dedicated function at Group level that reports to the Board of Directors. Each part of the Company is responsible for integrating sustainability in its operations and proposals.
Del Monte took a step forward in incorporating sustainability to strengthen our core business. The Group went through the process of identifying our material Environmental, Social and Governance (ESG) factors to prioritise the most important issues of our stakeholders. Identifying our sustainability priorities with respect to products, people, the environment, and governance issues relevant to our operation is one of the five primary components of the SGX guidelines on sustainability reporting. We engaged the services of a global independent consultant, a sustainability specialist firm, to ensure the independence of the material assessment process.
We believe in building future long-term resiliency for our business. New challenges and threats emerge. Our Company needs to continually understand these global issues and engage our stakeholders to identify key issues which affects our customers, the community where we operate, our employees, the environment and our ability to deliver a fair return to our investors. We continue to remain mindful of the impact of our activities on the future of our planet.
Our Company stands by our commitment to grow our business in a manner that sustains a healthy balance among diverse interests of all our stakeholders – our employees and their families, business partners, customers and host communities.
As a leading global food company, we have organised a Corporate Sustainability Team to develop strategic plans guided by the GRI framework and included corporate sustainability as part of the company’s strategic plan.
With the formalisation of our sustainability efforts, we, together with our stakeholders, stand to reap greater benefits, both tangible and intangible. The sustainability framework should help the Company achieve its business objectives since sustainability benefits not only the environment and society, but also the business -- people, planet and profit or the Triple Bottomline.
Sustainability is not just a business strategy, it is essential to our success. It is essential in strengthening our core!