Stakeholder Engagement
Overview
Stakeholder engagement assists the Group address its social responsibility by providing an informed basis for its decisions.
The Group has a proactive and planned approach to stakeholder engagement based on our vision of creating and unlocking value for all our stakeholders. The Group’s approach to stakeholder engagement is for each business to be responsible for managing its stakeholders by developing a concrete relationship that is based on trust and transparency.
Management Approach
The Group’s stakeholder engagement framework is to categorise material issues raised by stakeholders into those relating to economic, environmental or social impacts and opportunities. The framework allows the Group to consider material issues with significant impacts on the Group and stakeholders to be disclosed for accountability and response strategy formulation. Our stakeholder engagement strategy integrates with our risk and business development management. Maintaining sustainable stakeholder relationships based on shared values of honesty, inclusivity and responsiveness contribute to trust and strong relational capital for the Group. The Group places the responsibility of stakeholder engagement upon all management and employees. Ultimately, the Board is responsible for stakeholder engagement and management through various committees and business unit management. The Group’s approach to stakeholder engagement is such that business units are responsible for managing operational stakeholders while the corporate stakeholders are managed at Group level.
The Group values customers and other external stakeholders and commits to providing the best possible products and services by ensuring that we continue to apply good quality, safety, social, environmental and health management practices across our business value chain.
Categories of Our Stakeholders
The Group’s stakeholder engagement framework categorises our stakeholders into internal and external groups:
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Internal Stakeholders:
Employees and shareholders
The Group values employees as critical parts of its business model and strives to support their welfare and provide a conducive workplace. Our shareholders provide the financial capital for sustaining the business, hence we work to provide sustainable returns to their investment.
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External Stakeholders:
Customers, Suppliers, Financial Institutions, Communities, Regulators and Government, Non-Profit Organisations and Business Partners
The Group values its external stakeholders and is committed to establishing transparent relationships, taking their interests into account. The Group is committed in providing the best possible products and services by ensuring that we continue to commit to good quality, health & safety, environmental and community awareness management practices across our business value chain.
Stakeholder Engagement Process
As part of the Group’s Stakeholder Engagement Process, each business within the Group records the engagements it has with its key stakeholders. This provides an overview of the issues at hand, allowing a business to respond with mitigating actions to resolve any grievances. The Group engages on a regular basis with its key stakeholders to encourage a transparent relationship that is based on trust. Engagement with stakeholders is undertaken through a wide variety of channels depending on the issue and the context of the stakeholder. During the course of F2024, the following key issues were identified as affecting the Group as an entity when engaging with its stakeholders:
National Foods - Pasta Packing Machine
Innscor Head Office - encouraging the community to conserve, preserve nature and participate in planting of trees (addressing SDG goal 13)
