Century Pacific Food Inc

Lobbying Governance

AI Extracted Evidence Snippet Source

Our Board-level Corporate Governance & Sustainability Committee and the Management's Sustainability Steering Committee mandate and guide our sustainability agenda while our business units implement these on the ground. Investing in sustainability is a win-win endeavor that enables CNPF to grow responsibly through our people who champion what CNPF stands for and how their work contributes to overall sustainable development. [...] The Board-level Corporate Governance and Sustainability Committee oversees the implementation of our sustainability framework and periodically reviews sustainability risks and opportunities. This is chaired by a Non-Executive Independent Director, ensuring an independent and objective view of business-critical issues in sustainability. The committee receives updates on overall progress on sustainability and corporate governance semi-annually and advises the Management's Sustainability Steering Committee accordingly. With the rest of the Board, the committee also acts as gatekeeper for sustainability disclosures. See Committees of the Board of Directors and Roles and Responsibilities of the Board of Directors sections for more information. [...] Composed of senior executives of key functions and business units and spearheaded by our Executive Chairman and CEO, our Management's Sustainability Steering Committee is responsible for driving and embedding sustainability in every aspect of the business. Respective subcommittees manage, develop, and implement goals and action plans for each P of our framework (Protein Delivery, Planet Preservation, People Development) with the Core Sustainability Steering Committee leading the overall direction and ensuring continuous improvement in responsible business practices. Relevant sustainability goals and targets have been incorporated in each Sustainability Steering Committee member's Performance Management System as the basis of management's variable compensation.

https://centurypacific.com.ph/wp-content/uploads/2023/07/2022-CNPF-Sustainability-and-Annual-Report_compressed-1.pdf

The Board-level Corporate Governance and Sustainability Committee oversees the implementation of our sustainability framework and periodically reviews the material topics and key ESG risks to adapt our growing business to the evolving landscape – with the next materiality review scheduled in early 2023. This is chaired by a Non-Executive Independent Director, ensuring an independent and objective view of business-critical issues in sustainability. The committee receives updates on overall progress on sustainability and corporate governance semi-annually and advises the ESG Steering Committee accordingly. With the rest of the Board, the committee also acts as gatekeeper for sustainability disclosures. See Committees of the Board of Directors and role and responsibilities of the Board of Directors sections for more information. [...] Composed of senior executives of key functions and business units and spearheaded by no less than our Executive Chairman and CEO, our Environment, Social, and Governance (ESG) Steering Committee is responsible for driving and embedding sustainability in every aspect of the business. Respective subcommittees manage each P (Protein Delivery, Planet Preservation, People Development) – developing and implementing action plans, programs, and goals, with the Core ESG Steering Committee leading the overall direction of the sustainability framework and ensuring continuous improvement in responsible business practices. Relevant sustainability goals and targets have been incorporated in each ESG Steering Committee member's Performance Management System as the basis of management's variable compensation. [...] At CNPF, we believe that sustainability is everybody's job. Thus, we do not have a dedicated Chief Sustainability Officer or Sustainability Office. For sustainability initiatives to be impactful and long-term, they need to be embedded in the way we do business. Thus, to effect the necessary changes expected of a sustainable business, CNPF decentralized and integrated the responsibility to the key leaders of our business units. In this way, both business and sustainability decisions are made in conjunction.

https://centurypacific.com.ph/wp-content/uploads/2022/06/2021-CNPF-Sustainability-and-Annual-Report-06302022.pdf