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.
As Malaysia emerges from the impacts of the COVID-19 pandemic, businesses and markets continue to see new challenges arise, such as climate risks, economic and supply chain disruptions, and concerns regarding labour practices and human rights around the world. To ensure businesses are managed sustainably and responsibly, businesses must take a holistic approach and integrate economic, environmental, social, and governance considerations in their strategies.
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 is committed to forming sustainable, mutually beneficial relationships with its stakeholders towards achieving long-term, sustainable value creation and preservation. Every stakeholder is important in different ways, and we seek to strike a balance between the Group’s interest, its obligations, corporate responsibilities towards stakeholders, as well as stakeholders’ interest overall.
We adopt a structured process to assess and group stakeholders to understand the various interest and needs of our varying stakeholders, as well as to facilitate effective and efficient communication with them. We assess stakeholders by considering their relationships with our businesses, how these relationships impact the Group, how the Group’s activities impact stakeholders, as well as their relationship with other 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
KEY SUSTAINABILITY PERFORMANCE HIGHLIGHTS FOR FY2023
