ESG Integration in Supplier Selection and Evaluation
Supply Chain Management
The Company has embedded ESG criteria into the supplier selection and evaluation process to ensure that all suppliers operate in alignment with ESG principles. These ESG standards reinforce the Company’s commitment to sustainable procurement, while also mitigating supply chain risks.
Two key standards are being established: ESG in Supplier Selection and ESG in Supplier Evaluation. Each standard includes a structured checklist that suppliers must complete to assess their ESG compliance before engagement and after service delivery. The results from these assessments will play a crucial role in future procurement decisions, ensuring that suppliers continuously uphold responsible and sustainable practices.
ESG in Supplier Selection:
The Company has refined the supplier selection process by integrating best practices from subsidiaries and industry peers to develop a “pre-qualification checklist”. The criteria include social aspects such as health & safety and community impact, environmental aspects such as waste management, and governance aspects such as business ethics. While a self-assessment questionnaire serves as a tool for suppliers to evaluate their ESG performance, with scores evaluated based on evidence-supported responses. The results influence the vendor screening and selection process, ensuring qualified suppliers are selected.
ESG in Supplier Evaluation:
Simultaneously, ESG in supplier evaluation is designed to assess supplier performance during and after the service delivery. The evaluation are conducted by the Company and, where necessary, the third-party auditors, using a combination of desk-based and onsite assessments. This process is crucial for identifying actual or potential negative ESG impacts, ensuring compliance with ESG standards, and fostering continuous improvements in supplier practices. This is essential for the Company to identify, monitor, and address impacts, including the potential termination of suppliers that fail to meet minimum ESG requirements.
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