This year, 37 companies have achieved the highest award – the Platinum Award for environmental, social and governance (ESG). Six of these companies have received the Platinum recognition for 10 consecutive years:
China Telecom Corporation, Industrial and Commercial Bank of China,
Li & Fung, PTT Public Company, Public Bank, SM Investments Corporation
China Telecom, one of China’s major telecommunications companies, believes that board diversity contribute significantly to the enhancement of overall performance. The company views board diversity as the key element for accomplishing its strategic goals and sustainable development.
In determining the composition of the board, the company takes into account diversity of the board from a number of perspectives, including gender, age, professional experience, skills, knowledge, and duration of service.
The company also opened and operated a public WeChat account called “China Telecom with Integrity”, set up whistleblowing postal mailbox, emails and hotline to address any grievance or complaints on its employees, and to provide relevant opinion and recommendations on integrity, construction and anti-corruption work.
Industrial and Commercial Bank of China
The world’s largest bank by assets has been issuing annual social responsibility reports for the past three years, detailing the progress and results of its social responsibility work. These reports are certified by a third party that issues an independent limited assurance report.
The bank has clearly defined remuneration policies for directors, supervisors and senior executives, and runs development programmes for its directors, supervisors and senior management. The bank adopts a personnel performance evaluation system as well as an incentive and restraint mechanism. Performance evaluation is based on economic efficiency, risk cost control and social responsibility.
The company adheres to the long-term goal: “Providing excellent financial services – serving customers, returning shareholders, achieving employees, contributing to society”.
Li & Fung
Independent non-executive directors represent 50% of Li & Fung’s executive board. The company considers this composition to be balanced and able to reinforce a strong independent review and monitoring function on overall management practices.
In 2017, the leading global supply chain manager launched its diversity and inclusion initiative, to raise awareness, change perceptions and empower its people to both celebrate diversity and engage in conversations on what it means to foster an inclusive working environment for employees and customers through digital platforms.
Li & Fung partners with its customers and suppliers to raise the sustainability performance of the supply chain. Its priority is to develop and operate responsible, sustainable and agile supply chains that meet the demands of a dynamic global retail sector while safeguarding and enhancing the lives of all those who are impacted by it. The company aims to make lives better for a billion people along its supply chain.
PTT Public Company
In 2017, PTT Public Company has been involved in many strategies in energy saving, recycling and waste management. Projects and activities include expanding the scope of PTT Group energy conservation and energy efficiency project to the petroleum terminal operation.
Thailand’s largest oil and gas company implemented an energy consumption reduction initiative at its Rayong Gas Separation Plant by optimizing the heat exchange system at the third pipeline pressurization unit, resulting in the recovery of waste heat equivalent to 662,207 gigajoules per year of energy savings and 112,977,720 baht per year of cost savings.
PTT has integrated the energy efficiency roadmap into the PTT Group Energy Efficiency (EE) master plan by setting strategic targets to reduce the intensity of energy consumption by at least 1.9% per year compared to the business as usual baseline until 2017.
PTT has placed an importance on waste management, reducing the amount of waste based on the 3Rs principle: Reduce, Recycle, and Reuse. PTT aims to reduce the volume of industrial waste disposal to landfill to zero by 2020.
In 2017, its initiatives include separating contaminated containers and returning them to manufacturers for reuse. The initiative reduced the amount of waste to landfill by 320 tonnes last year.
Volunteerism starts early for employees at Public Bank. Employees are given a free hand in the choice of volunteering initiatives to carry out and participate in. In 2017, employees undertook various visits to orphanages and homes as well as feeding programmes for the needy. These volunteering initiatives enabled employees to engage with the community, create special bonds with society as part of their civic and social responsibility. The activities instil in employees a culture of giving.
For its young employees, these activities enhance their personal experience, help develop their leadership skills and enhance their interpersonal communication skills. These initiatives increase self-esteem and life satisfaction.
In Public Bank, management believes that employees must understand and appreciate how they fit into the bigger picture. The bank organizes events that provide a platform for staff to participate in the bank’s strategic business development.
SM Investments Corporation
SM Investments Corporation (SMIC) nurtures the culture of inclusion by providing equal opportunities regardless of gender, sexual orientation and age. In SMIC’s commitment to being an employer of equal opportunities, the company has taken on concrete steps: its board approved guiding principles based on global standards that include the protection of the dignity of every person, upholding human rights and the recognition of the role of women in achieving economic growth and poverty reduction.
As a group, SMIC also continued to monitor the metrics on employee demographics, which is regularly disclosed in the company’s annual sustainability reports. This includes the distribution of its employees by gender, age, region and the number of women who take leadership roles.
It maintains diversity in its talent pool, including the hiring of staff representing multi-generations such as senior citizens and those representing Baby Boomers, Gen X and Y, as it pursues innovative ideas and new solutions to overcome challenges.
In optimizing multi-generational skills and culture, SMIC has engaged senior citizens with specialized wisdom and knowledge to help mentor the company’s next in-line talent pool for succession planning.