Stakeholders

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The Group operates in several sectors of the economy and this diversity requires developing and sustaining relationships with varying stakeholder groups. Functioning with a large number of stakeholder groups translates to numerous and varying expectations, and thus the Group considers stakeholders that have a significant influence over the Group, or who would be significantly impacted by the Group’s operations. The Group’s significant stakeholder groups are:

 

– Customers
– Employees
– Suppliers and Business Partners
– Community, Community Leaders and Society
– Investors and Lenders
– Legal and Regulatory Bodies
– Government Institutions and Departments
– Society, Media and Pressure Groups
– Industry Peers and Competition

 

Stakeholder Engagement Process

 

Stakeholder engagement remains a pivotal dimension in our sustainability strategy and continues to mould and shape our strategic outlook with respect to sustainability practice.

 

The Group proactively engages with a diverse range of stakeholders to assess the Group’s focus on, and responsiveness to, material issues. The Group also commissions an independent third party to carry out an external stakeholder exercise in accordance to the sustainability assurance standard AA1000SES. The AA1000 standard is used to verify materiality, which then defines the parameters for reporting on inclusivity, materiality and responsiveness. The Group conducts this exercise periodically in the future to maintain its commitment to increasing stakeholder value. As employees form a significant part of the Group’s stakeholders, Group Human Resources also carries out a limited stakeholder engagement with them to understand the pulse of employee groups.

 

Feedback received from stakeholder engagements as well as risks identified through the Group Enterprise Risk Management (ERM) process are then analysed in terms of importance and influence prior to being mapped to the relevant aspects of the Global Reporting Initiative (GRI) G4 Guidelines. These concerns are then monitored on a quarterly basis in an attempt to respond to stakeholder feedback. These responses and related Group performance are communicated primarily through the Group’s integrated Annual Report.

 

Stakeholder Engagement Frequencies

 

Once significant stakeholder are identified, the Walkers CML Group engages with these stakeholder groups at relevant frequencies to understand perception regarding significant aspects that affect our sustainability performance. These include formal and informal consultations, negotiations, communication, mandatory and voluntary disclosures, certifications and accreditations. This is further illustrated under separate stakeholder categories below:

 

Customers – B2C, B2B, B2G
Expectations: On-time delivery of tailor-made and premium quality products and services, in an environmentally and socially responsible manner.
Frequency of EngagementMethod of Engagement
Annual/Bi-annualTrade fairs, road shows, conferences, site visits, discussion forums
RegularRegular progress review meetings, site visits
OngoingCorporate communication (printed reports), direct dialogue (telephone, SMS, e-mail), corporate website, and other business development activities
Employees – Senior Management, Executives, Workers, Casual Workers
Expectations – Providing remuneration, benefits and equal opportunity in a safe and enabling workplace with a culture of that promotes meritocracy and encourages work-life balance.
Frequency of EngagementMethod of Engagement
AnnualGroup-wide annual cricket encounter, performance reviews
Bi-annualPerformance reviews, skip level meetings
RegularInternal memos, employee newsletter, corporate events
OngoingTraining and development, joint consultative committees, open door policy, social responsibility projects
Suppliers and Business Partners
Expectations: Long-term relationships through adherence to and renewal of agreements and contracts, timely settlements and knowledge sharing within the industry sector
Frequency of EngagementMethod of Engagement
AnnualSupplier evaluations, contract renewal mechanism, conferences, road shows,
QuarterlySupplier reviews
RegularOne-on-one meetings, market reports
OngoingCorporate website, calls, emails and circulars
Community, Community Leaders, Society
Expectations – Livelihood development and social inclusion through direct and indirect employment and local sourcing, with minimal impact to shared resources
Frequency of EngagementMethod of Engagement
One-offOne-off meetings, forums or workshops prior to project commencement
MonthlyOnce project is commenced, monthly meetings, workshops and forums
OngoingSocial Responsibility programmes/projects
Investors and Lenders
Expectations – Economic value generation through consistent performance
Frequency of EngagementMethod of Engagement
AnnualAnnual reports, disclosures and reviews, investor road shows
OngoingPhone calls, e-mail, written communication, websites, one-on-one meetings
Legal and Regulatory Bodies
Expectations – Statutory compliance when carrying out operations
Frequency of EngagementMethod of Engagement
AnnualSenior management are members of chambers and industry associations and meet at least on a quarterly or bi-annual basis.
OngoingPeriodic discussions through meetings and other correspondence
Government Institutions and Departments
Expectations – Stimulating the local economy through investments, employment generations and timely settlements of taxes.
Frequency of EngagementMethod of Engagement
AnnualSenior management are members of chambers and industry associations and meet at least on a quarterly or bi-annual basis
OngoingMeetings, business forums, newsletters, circulars, presentations and briefings, advisory meetings of industry associates
Society, Media and Pressure Groups
Expectations – Being a responsible corporate citizen with sound governance practices which adhere to applicable laws and regulations and with minimal impact to society and environment in which it operates.
Frequency of EngagementMethod of Engagement
OngoingWebsite, press releases, media briefings, correspondence and meetings, disclosures, media coverage, certification and accreditation
Industry Peers and Competition
Expectations – Ensuring that anti-competitive behaviour is discouraged and actively participating in industry organisations
Frequency of EngagementMethod of Engagement
QuarterlyQuarterly meetings at chambers and industry associations
OngoingParticipation at trade associations, conferences and discussion forums