Central Retail Corp PCL

Lobbying Governance

AI Extracted Evidence Snippet Source

The Corporate Governance and Sustainability (CGSD) Committee provides oversight of compliance and promotion of climate change and other sustainability issues under the Company's ReNEW Strategy, and is responsible for reviewing the climate strategy. The CGSD Committee regularly gets reported and discusses on climate-related issues at least on an annual basis. In addition, the CEO and the Environment Committee provide executive oversight in developing the climate strategy and managing climate-related issues, while the Sustainable Development Working Team and the Environment Working Team are responsible for integrating the climate strategy into business operations and decision making, and for executing mitigation and adaptation measures in collaboration with relevant business units. [...] The Company has developed its sustainable supply chain management system to ensure that both the Company's employees and merchandising, and the suppliers can align and comply with high sustainability standards. To oversee the sustainable supply chain management system and practices, the Company has established the Supply Chain Sustainability Committee that is headed by a Board of Director from the Corporate Governance and Sustainability Committee. The Supply Chain Sustainability Committee also comprises of the Supply Chain Director at the management-level, and employees from the merchandising and supply chains function to represent each business units. The Company has included the Supplier Code of Conduct in the standard contract and trade term agreement to ensure compliance from all suppliers. The Company's internal merchandising practices will be continuously reviewed to ensure consistent alignment with any updates to the Supplier Code of Conduct, and to prevent conflicts with ESG requirements.

https://www.centralretail.com/storage/document/sustainability-reports/2023/sd-report-2023-en.pdf

|Corporate Governance and Sustainability Committee*|§ Oversees compliance with and promotion of sustainability issues under ESG strategy framework, which covers climate change as one of key material ESG issues § With climate change as a component of ESG framework, the Corporate Governance and Sustainability Committee also oversees: § Progress against climate-related goals and targets § Development and revisions of climate strategy and action plans § Implementation of measures to mitigate or enhance climate-related risks and opportunities| |Risk Policy Committee (RPC)**|§ Oversees effective enterprise risk management including ESG risks, which covers climate-related risks (and opportunities) § With climate-related risks as a component of ESG risks, the Risk Policy Committee also oversees: § Integration of climate-related risks into the Company's enterprise risk management § Management and assessment of climate-related risks| |Executive Management|§ The Chief Executive Officer (CEO) is currently a member of the Board of Directors, the Corporate Governance and Sustainability Committee, and the Risk Policy Committee. § Manages business operations according to strategies and plans approved by the Board of Directors, which covers ESG strategy framework § With climate change as a component of the ESG strategy framework, the Executive Management oversees: § Integration of climate strategy into overall business strategy, and progress against climate-related goals and targets § Implementation of effective climate-related risk and opportunity management § Appointment of responsibilities for implementing climate strategy and climate-related risk and opportunity management| |Sustainable Development Working Team|§ Integrates ESG strategy framework into overall business operations, which covers climate change § Implements climate strategy and actions plans to achieve climate-related goals, targets and to mitigate climate-related risks| |Risk Management Working Team|§ Integrates climate-related risks into the Company's enterprise risk management § Manages and assesses ESG risks, which covers climate-related risks|

https://www.centralretail.com/storage/document/esg-reporting/tcfd-report-2021-en.pdf

The Company has set up several management and board oversight to drive the Environmental Policy, and drive the policy, namely the Corporate Governance and Sustainability Committee which the Chief Executive Officer (CEO) is also a part of, Presidents of Subsidiaries or Associates or Business Units, and Environmental Working Team. They have a duty to continually improve the Company's environmental undertakings in the following areas: [...] Due diligence process." [...] "The Company prioritizes the sustainability issues to finally identify material issues with the most significant impacts. The resulting material topics are then presented to the Corporate Governance and Sustainability Committee, and the Board of Directors to validate for alignment with the Company's context and business strategies. The validated material issues would then be endorsed by the Board of Directors to be regarded as the Company's material issues." [...] "The Company has stipulated Occupational Safety, Health and Work Environment Policy with the Head of Human Resource Department and Head of Loss Prevention, and Head of Safety, Occupational Health and Work Environment from each business unit to be responsible for supervising and developing the occupational health and safety management system which applies to every employees and contractors are under the Company's supervision operating in the office, department stores, rental space, and warehouses. [...] Moreover, to continue promoting the development of the occupational health and safety management system, the Company has stipulated that relevant agencies must set annual quantitative targets, develop action plans to achieve the targets, and report the performance to the executives or the Board of Directors on a quarterly basis." [...] "More importantly, the Company has set up the Occupational Safety, Health and Work Environment Committee stationed at each mall department store to support the practical work on occupational health. The Committee consists of one branch manager and at least two employee representatives. It can be seen that the Company includes employee representatives in the Committee to promote the participation and engagement of employees in the implementation, evaluation, and improvement of the occupational health and safety management system. The Committee is responsible for the planning of accident prevention and promoting safety through Safety Walks within the respective branch, monitoring the work progress, conducting inspections should there be cases of work-related injury and illness, and address comments and complaints gathered from employees. The Committee meets every month to summarize the outcomes of their work." [...] "The Company has formed a cybersecurity and privacy protection unit responsible for ensuring the stability of information system, under close supervision by the Risk Policy Committee, Chief Executive Officer, Chief Information Security Officer (CISO), and senior-level employees. [...] The Company has installed a security system at its data center to prevent possible physical damage from emergency incidents such as flood, fire, and unauthorized access to the system. In addition, the Company has determined guidelines and operational frameworks for the management of information technology which employees and those involved must strictly follow. The guidelines and frameworks must be in line with relevant international laws and standards, namely the Center for Internet Security Control (CIS) and National Institute of Standard and Technology Cyber Security Framework (NIST-CSF) which has been verified by external party." [...] "The Company has formed a specific team responsible for personal data protection and appointed a Data Protection Officer (DPO), who is responsible for formulating an operational framework that is consistent with the Personal Data Protection Act (PDPA). Thus, the Company has announced the Data Handling Policy for internal use as a guideline for employees and relevant parties to follow during business operations to prevent and ensure no personal data breach. Moreover, the Company has publicized its Privacy Policy to the public on the Company's website, department stores, and other points with the collection of personal data to ensure transparency of the use of personal data." [...] "In conducting business in accordance with the principles of good governance and business ethics, the Company's directors are appointed based on their diverse retail business knowledge and experience, ensuring that our business operations are transparent and accountable to the stakeholders. The Company also appointed the Corporate Governance and Sustainability Committee to mobilize issues of good governance and sustainable development. The Company has announced policies on corporate governance, anti-corruption, and other related policies. In addition, there is a handbook on corporate governance and code of conduct for communication with and training of the Company's directors and employees at all levels to foster a corporate culture. The Company has a whistleblowing policy entailing a procedure for filing complaints to encourage all stakeholders to report and fight against corruption, and most importantly protect them against any reprisal to ensure confidence in the stakeholders." [...] "One of the areas covered by the Company's anti-corruption policy is political participation, which prohibits the Company from rendering political support or expressing political inclination to demonstrate our business transparency. However, the Company may make donations or provide sponsorships to external organizations only if they are lawful and consistent with the Company's business ethics objectives, e.g. sustainable development and social benefits. The Company can support trade associations only in terms of membership fees and expenses for organizing activities. As for the benefit, the Company may receive are in terms of business network in the retail industry as well as reputation and credibility. The Company is currently a member of the Thai Chamber of Commerce and the Federation of Thai Industries.

https://www.centralretail.com/storage/document/sustainability-reports/2022/sd-report-2022-en.pdf