Governance indicators
| Indicator | Disclosure |
|---|---|
Ethical business policy |
The Group is committed to acting ethically and with integrity in the way it conducts its business. Our policy on sustainable and ethical business relates to: Transparency and grievances; Occupational safety and health; Quality; Anti-bribery and corruption; Responsible employment; and Labour rights. |
Whistleblowing policy |
The Group encourages staff to report suspected wrongdoing as soon as possible through its whistleblowing policy. |
Risk management |
The directors acknowledge their responsibilities for the Group’s system of risk management. Principal risks to the Group are identified, reviewed and assessed by the audit committee at least annually and reported to the board for approval. |
Approach to tax |
All companies within the Group must fulfil all statutory tax compliance and disclosure obligations in accordance with all relevant tax laws and regulations. The Group employs a dedicated tax specialist team and works with external tax consultants where necessary to advise on complex areas. Taxation-related risks are reviewed and assessed by the audit committee at least annually and reported to the board for approval. |
All information is for year ended December 2023
Further information:
- the ethical code of conduct section of the Group’s website
- the risk management section of the Group’s website
- the risk management section of the Group’s 2023 Annual report
| Indicator | Disclosure |
|---|---|
Supplier requirements |
The Group’s commitments to no deforestation, no development on peat, and no exploitation (NDPE) applies to all suppliers. Each supplier is required to adhere to our policies on Ethical business; Local communities and Environment. |
Supply chain mapping and traceability |
In 2023, 74% of FFB came from company managed plantations (inti and plasma) while 26% was sourced from independent third parties. We know the names and locations of all third-party supplying plantations (companies that supply FFB to our mills) and we’re making good progress on mapping the plots of land owned by independent smallholder in our supply chain. We continue to map independent smallholders in our supply chain, with the aim to achieve a fully traceable supply chain by the end of 2024. |
Supplier engagement and evaluation |
The company engages with suppliers to socialise sustainability requirements and seeks commitment from suppliers by signed agreement. Information on each existing or prospective supplier is assessed using our supplier evaluation form, which includes information on location, legality and policy requirements. Total score against the listed criteria is used as the basis for determining whether requirements are fulfilled to enter into agreement or contract. |
Non-compliance procedure |
The Group will not source goods or services from suppliers who fail to commit to or comply with the requirements that are set out in agreements. The contracts of suppliers or vendors that are found to violate our policies will likely be suspended for a period of six months during which they must take agreed steps to bring them in line with Group policies. This may include requesting the supplier to develop a robust plan to restore natural ecosystems lost or to develop a suitable compensation plan to address a verified case of non-compliant land clearing. |
All information is for year ended December 2023
Supplier engagement and compliance
| Objective | Target | Progress |
|---|---|---|
Supplier evaluation |
||
| Existing and potential direct suppliers screened against social and environmental criteria. | 100% of direct suppliers engaged, screened and qualified for inclusion in our supply chain. | Achieved. 100% of direct suppliers engaged, screened and qualified for inclusion in our supply chain. |
Traceability |
||
| Supplier survey and mapping of indirect suppliers. | 100% traceable to oil palm production area by end of 2024. | On track. 84% traceable to source in 2023. |
Non-compliance procedure |
||
| Identify and address cases of non-compliance. | Each verified case of non-compliance addressed by suspension, exclusion and/or corrective action plan. | No cases of non-compliance identified since Nov 2018. |
Capacity building |
||
| Help our independent smallholders operate more sustainably by offering training and support. | Engagement with 100% of independent smallholders by end of 2026. | On track. Direct engagement with 547 independent smallholders. |
Compliance verification |
||
| Monitor suppliers and sourcing areas; pursue third party verification of methods and data; continue RSPO certification for scheme smallholders and independent smallholders. | By the end of 2026, 100% of FFB sourced by our mills verified as deforestation and conversion free and fully compliant with our sourcing policies and standards for production of sustainable palm oil. | On track. In 2023, 28.5% of ffb supply from suppliers certified against the RSPO Principles and Criteria, and thereby verified as deforestation and conversion free, and fully compliant with our sourcing policies. |
FFB supplied to Group mills
| FFB source | Units | 2023 | 2022 |
|---|---|---|---|
Group own crop (inti) |
Tonnes | 852,200 | 745,800 |
| Percent | 55.0% | 57.4% | |
Scheme smallholders (plasma) |
Tonnes | 275,500 | 213,700 |
| Percent | 17.8% | 16.4% | |
Independent third party |
Tonnes | 421,500 | 340,600 |
| Percent | 27.2% | 26.2% | |
| Total | Tonnes | 1,549,200 | 1,300,100 |
Traceability
| Units | 2023 | 2022 | |
|---|---|---|---|
| FFB traceable to tier 1 suppliers | Percent | 100% | 100% |
| FFB traceable to source | Percent | 84% | 87% |
Further information:
-
- the risk management section of the Group’s 2023 Annual report
| Indicator | Disclosure |
|---|---|
Grievance approach |
Grievances or complaints are addressed in a timely manner in accordance with our grievance approach, applicable to both internal and external grievances. |
List of grievances (own operations) |
The Group does not have any active public complaints. RSPO complaint of August 2020 was closed in December 2020 according to the Decision letter by the RSPO Complaints Panel. |
List of grievances (suppliers) |
There are no grievances against our direct suppliers. |
All information is for year ended December 2023
Grievance approach
| Indicator | Disclosure |
|---|---|
Group Annual Report |
The Group’s 2023 Annual report includes a section on sustainability. |
Group Sustainability/ESG Report |
The Group published a standalone Sustainability report in 2020 using the Global Reporting Initiative (GRI) metrics and methods for measuring and reporting sustainability-related impacts and performance. We have since reported our performance in the indicator section of our website. |
Streamlined Energy and Carbon Reporting (SECR) |
Since 2019, we have reported publicly on energy use and associated greenhouse gas emissions in compliance with SECR (Streamlined Energy and Carbon Reporting), a sustainability reporting framework which is mandatory for large organisations in the United Kingdom. |
Taskforce on Climate-related Financial Disclosures (TCFD) |
The Taskforce on Climate-related Financial Disclosures (TCFD) is a framework that is used to assess and manage the risks and opportunities associated with climate change to a business’s operations, financial planning and future strategy. We followed this framework for the first time in 2022 to help understand and analyse the impact that climate change may have on the Group’s success. We have voluntarily published a standalone TCFD report, which outlines the risks and opportunities from climate change, the steps we are taking to strengthen our understanding of these risks and opportunities, and our actions in response to them. This report is aligned with the recommendations of the TCFD and is structured according to the four pillars of the TCFD recommendations: governance, strategy, risk management and metrics and targets. |
SPOTT |
Each year, the Group is assessed on the transparency of its ESG disclosures through participation in the Sustainable Palm Oil Transparency Toolkit (SPOTT) assessment by the Zoological Society of London (ZSL). SPOTT uses publicly available information to measure company transparency against ESG indicators under three categories:
In the 2023 SPOTT assessment, the Group increased its score from 80.2% to 86.7%, and was ranked 13th out of the 100 palm oil companies assessed. External verification of relevant SPOTT indicators has been undertaken ahead of the 2024 assessment (see the verification report here). For further details on SPOTT assessment for palm oil companies, please refer to https://www.spott.org/palm-oil/. |
All information is for year ended December 2023
Further information:
- the Group’s 2023 Annual report
- our TCFD report
- the Group’s ESG 2023 report
Strategy
The Group is a responsible producer, striving for excellence, with a focus on continuing growth and offering an increasing yield.
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