As a responsible and ethical organisation, we strive to strengthen the local economy, build corporate transparency, promote products that improve community well-being, invest in human capital development and mitigate any negative impact our operations may have on the surrounding environment. In order to realise our corporate vision to bring the greatest value and pride to our customers, business parties, employees and shareholders, we have embarked on this journey to embed sustainability throughout our value chain.
Sustainability considerations encompassing economic, environmental, social, and governance aspects, are paramount to the Group in how the Group drives its value creation in the short-medium and long-term, as we believe that sustainable value is generated by striking a good balance among the generation and consumption of financial and non-financial capitals within our business model. Some values are fundamentally important and cannot be measured in financial terms, such as fundamental human rights and the conditions of the natural environment which may be highly irreversible if damaged. BESHOM Group incorporates these considerations in how we do business, towards ensuring the sustainability of our business, the environment, and the society. These aspiration of ours are embedded in our Group Mission, Vision, and Corporate Values, and further supported by the Group’s Sustainability Policy.
To achieve our mission and vision, we have a sustainability strategy that emphasises 5 Key Sustainability Focus Areas, namely Economy, Governance, People, Product and Planet. Our Sustainability Policy further sets out the priorities in these Key Sustainability Focus Areas and guides us in addressing sustainability in our business operations.
BESHOM SUSTAINBILITY POLICY
ECONOMY
To contribute to the sustainable growth of the local economy and to create business opportunities for entrepreneurs
We shall create business and employment opportunities, recruit local talent, embed sustainability in our procurement practices and throughout our value chain, provide a skill development and business collaboration platform for distributors, and instil the “Hai-O My Choice for Life” team spirit.
GOVERNANCE
To foster corporate transparency and lay the foundation for strong and sound leadership
We shall prioritise compliance throughout our value chain, adhere to laws, regulations and internal conduct and policies, manage material sustainability matters, and embed integrity and transparency into our corporate culture.
PEOPLE
To create a corporate culture that champions safety, good conduct, skill development, and community engagement
For our employees, we shall ensure a safe and conducive workplace, provide fair remuneration, foster talent development and performance management system, provide regular training and development programmes, encourage employees’ involvement in Kelab Muhibbah Hai-O and provide recognition for high-performing and loyal employees, teams and franchisees.
For the community, we shall strive to bring a positive impact, encourage quality education, support vulnerable communities, and continuously spread health awareness and community harmony.
PRODUCT
To provide safe and high-quality products that cater to improving the well-being of our customers
We shall promote products that improve the community well-being, provide high quality and safe products and services, apply and maintain standards and certifications, improve customers’/distributors’ satisfaction, and establish sustainable and transparent lines of communication between BESHOM and our customers.
PLANET
To strengthen our efforts towards protecting the environment when carrying out our business operations
We shall educate the practice of 4R (Reduce, Reuse, Recycle and Replace), reduce and replace less environmentally friendly materials in product packaging, promote green initiatives and introduce products that contain eco-friendly ingredients that are less harmful to the environment as well as human health.
We also acknowledge our roles in the global, joint efforts towards combating climate change and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels. We shall take necessary efforts to account for and report our greenhouse gas (“GHG”) emissions and to formulate appropriate strategies to mitigate our GHG impacts.
GOVERNANCE FOR SUSTAINABILITY
Our corporate governance process incorporates the oversight and management of sustainability. Spearheaded by the Board, our robust sustainability governance helps to set the Group on the right path towards its long-term objectives.
STAKEHOLDER ENGAGEMENT
BESHOM’s value is closely connected to the long-term sustainable value creation and preservation of its stakeholders and we aim to balance the Group’s interests, obligations, and corporate responsibilities with the overall interests of our stakeholders.
The Group assesses its various stakeholders to understand their diverse interests and needs as well as their relationship with the Group. Accordingly, we also have channels to maintain effective engagement and communication with our stakeholders. We embrace open and honest communication and aim to achieve adequate mutual understanding and optimum interest alignment with our stakeholders.
Broadly, our stakeholders include customers, shareholders and investors, employees, distributors, vendors and suppliers, local communities, media, certifications, standards, and regulatory bodies.
MATERIAL SUSTAINABILITY MATTERS
