Our Approach to Sustainability
- as of Annual Report 2016
Malakoff’s commitment towards sustainable growth is evident at all levels of our organisation. At the leadership level, our Board of Directors and senior management recognise the importance of pursuing a business sustainability agenda that upholds good EES practices. Our leadership has committed to investing in measures, which support the sustainable growth of the Group’s businesses and which create value for our shareholders.
In 2016, Malakoff formed a Working Group on Sustainability to oversee the formalisation of sustainability processes and the preparation of this Sustainability Statement. The Working Group on Sustainability is chaired by our Chief Financial Officer. Its other members comprise the Heads of the Risk Management Department and the Corporate Affairs and Stakeholder Management Department, as well as the Heads of Group Accounts and Investor Relations. Several business units provide support, namely the Local Generation Division (“LGD”), Human Resource Department (“HR”), Group Health, Security, Safety and Environment (“GHSSE”) and Corporate Affairs and Stakeholder Management (“CASM”) units. The Working Group on Sustainability reports directly to the Group Managing Director, who is responsible for providing overall direction on how sustainability matters are to be incorporated in Malakoff’s business and for endorsing the Sustainability Statement for the Board’s approval.
Over the course of 2016, the Working Group on Sustainability met on a regular basis, and conducted the following activities:
- reviewed Malakoff’s stakeholder engagement process, including the prioritisation of key stakeholders and stakeholder engagements for the purpose of this Statement;
- conducted a materiality assessment to determine sustainability matters which are material to Malakoff;
- considered targets and indicators to evaluate and monitor the performance of material sustainability matters, in the context of Malakoff’s business;
- prepared this Statement, supported by the respective business units that are responsible for the performance of the material sustainability matters.
At the ground level, the various teams within the Group carry out their everyday functions in a manner that makes a positive and sustainable impact on the EES front. With all employees within the Group doing their bit to ensure responsible and sustainable behaviour, this is successfully preserving the Group’s reputation and bolstering shareholder value.
While the Working Group on Sustainability has been formed for the purpose of helping Malakoff kick-start its sustainability journey in a more structured manner, we are currently exploring and considering a formal governance structure that will enable the integration of sustainability into the Group for the longer-term.
Disclosure and External Assurance
While sustainable practices form part and parcel of the daily operations within our respective businesses, we are still at the early stages of developing a formal sustainability policy that encompasses all areas of the Group. As this is our first consolidated Sustainability Statement, it has not been subjected to external assurance. We are in the process of streamlining our sustainability data collection and monitoring activities across the Group and plan to seek external assurance in due course.