Swire is committed to the sustainable development of its businesses. We provide quality products and services to customers, strive to minimise the environmental impact of our activities and carefully consider the needs of our community, making positive contributions wherever we can.
In all our business dealings we insist on the highest standards of professionalism, accountability, and transparency. We offer our staff equitable, safe, and healthy workplaces, and foster their career development. We pursue operational excellence in everything we do, priding ourselves on being forward-looking, innovative and original. These qualities are the foundation of our success and vital to our long-term sustainability.
Sustainability at Swire Pacific
At Swire Pacific, long-term thinking and the responsible stewardship of valuable resources drive every aspect of the business, from daily operations, strategic planning and investment decisions to staff care, community involvement and environmental management. Our aim is to integrate all of these aspects - economic, environmental and social sustainability, into all dimensions of our business and management practices. We do this through our strategy for sustainable development, SwireTHRIVE, and our environmental, social and governance (ESG) policies.
We believe that business growth should not come at the expense of the environment. When the world in which we operate thrives, so do we. This is why in 2016 Swire introduced SwireTHRIVE, a group-wide sustainability strategy which will have an impact on every part of Swire's operations. Initially focussed on environmental issues, SwireTHRIVE was extended in 2020 to cover our commitment to people and communities. SwireTHRIVE aims to mitigate operational risk and build long-term resilience by driving improved standards and efficiency and increased innovation in five key areas:
Climate – Decarbonise our business and build climate resilience
Waste – Turn today's waste into tomorrow's resource
Water – Use and manage water responsibly
People – Foster a company culture that is accessible, inclusive and safe
Communities – Position our community initiative as part of our core business value
Environmental, social and governance (ESG) policies
We have a Sustainable Development Policy that commits the Group to working on the environmental, health and safety, employment, supply chain and community issues that our operations affect, and to working with other parties to promote sustainable development in the industries in which we operate.
We maintain a group level ESG policy framework that goes beyond the five pillars of SwireTHRIVE, covering topics that reflect our values, and which are important to regulators, investors and other key stakeholders.
While each business unit is required to address its own sustainability issues, the principles governing the way in which this is done are formulated at Group level. Through its Sustainable Development Office, Swire Pacific sets policy and monitors its implementation by individual business units. The Sustainable Development Office also assists business units with planning, risk management and with the measurement of results. Policy is set in the light of global sustainability trends and after consideration of the risks and opportunities for the Group as a whole. Strategic committees have been established at Group level to address key sustainability issues, such as human resources, health and safety and the environment; these committees report to the Group Risk Management Committee. We also have a group level Diversity and Inclusion Steering Committee.
Through our enterprise risk management system, we identify the principal risks that need to be managed in order to facilitate the sustainable development of our businesses. We engage with our business partners and other third parties and benchmark our sustainability performance against our industry peers. We regularly review our own performance and report on it to shareholders using the Global Reporting Initiative.
Our sustainability reporting sets out our approach to sustainability, ethics and good governance. Our approach is integral to fulfilling our commitment to an open and honest dialogue with our stakeholders. We believe our approach builds resilience and creates value for all our stakeholders. We released our first annual sustainability report in 2007. Our latest report has been prepared as an interactive website and is available in English and Traditional Chinese. It has been prepared with reference to the Core level of the Global Reporting Initiative (GRI) Standards and the comply or explain provisions and recommended disclosures in the Environmental, Social and Governance (ESG) Reporting Guide (ESG Guide) of The Stock Exchange of Hong Kong Limited (HKEX). The full Sustainability Report can be viewed at https://www.swirepacific.com/sdreport/2022/.
We respond to enquiries from investors and provide information to the CDP (formerly the Carbon Disclosure Project), the Dow Jones Sustainability Index (DJSI), FTSE4Good, MSCI and organisations which assess the economic, environmental and social performance of companies. They help us to identify the specific issues most relevant to the industries in which we operate.