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SADAFCO Releases First Sustainability Report Reporting its Progress in 2021
SADAFCO Releases First Sustainability Report Reporting its Progress in 2021

Jeddah, Saudi Arabia, September 6th, 2022: SADFCO announces releasing its first sustainability report disclosing the company’s sustainability performance for the period starting 1st April 2021 and ending 31st March 2022. Developed in accordance with Global Reporting Initiative (GRI) standards and gave due consideration to the guidelines issued by the Tadawul stock exchange. The company’s 2021 sustainability report highlights SADAFCO’s commitment to its people, the communities it operates within, the environment, and its shareholders.

The report outlines the significant steps the company has taken to formalize its ESG efforts and put in place a vision for sustainability. The company also reported implementing a sustainability governance structure to improve transparency and accountability. The governance structure ensures cascading of the sustainability vision into strategic goals and initiatives to be executed.

In a statement expressing pride at the release of this report, Patrick Stillhart, CEO of SADAFCO said 'At SADAFCO, long-term growth, value creation for all stakeholders, and care for the environment go hand in hand. Creating value for all stakeholders while delighting consumers is the essence of our business and is encapsulated in our corporate mission. Sustainability is therefore fundamental to how SADAFCO continues to evolve. With this report we outline our vision, ambitions, and strategy towards sustainability.”

The company reported aligning its sustainability strategy and roadmap with the Sustainable Development Goals (SDGs), the Saudi Vision 2030 and the National Transformation Plan.

He added 'The nature of our business is multifaceted. Consequently, our sustainability approach is built on four strategic pillars: Consumer, Environment & Climate, People & Community and Governance. In addition to sizeable environmental efforts, we have made considerable advancements in our disclosure of our social and governance initiatives including diversity, equity and inclusion in the workplace, health and safety. and the stakeholder views identified through our comprehensive materiality assessment.”

Underpinning these pillars is a framework for creating a corporate culture of sustainability – Making Sustainability Personal, Sensitization Training and Awareness Building, Delegating Responsibility, Employee Volunteering on Sustainability.
Key highlights of the report include:
 Consumer The company's primary goal is customer satisfaction and maintaining consumer delight. The health and nutrition journey starts with the product and continues from there with consumer education. This will be delivered through communication on health & nutrition programs and initiatives at schools, hospitals and gymnasiums.

Environment & Climate Reducing the energy intensity of operations through identification of all possible energy efficiency improvement areas in operations & processes. SADAFCO aims to increase the mix of renewable energy with the aim of reaching 100% usage of solar power generated at Jeddah Central Warehouse (JCW) by 2024. The company also aims to reduce the Green House Gas (GHG) emission intensity by first developing a robust GHG emission inventory and then tracking progress on their path to reduce emissions

People & community The company reaffirmed its commitment to creating an environment where its people can all reach their full potential, by respecting and involving all persons, regardless of age, disability, gender, ethnicity, or nationality. To support this, the company also recently implemented an e-learning platform to bolster the number of trainings, hours and employees receiving training. SADAFCO aims to have more than 10% female employees throughout its operations. In addition, the company will conduct biannual surveys of its employees to ensure their happiness and well-being.   

Governance Corporate governance is regarded as one of the most essential pillars of improving administrative processes. In order to ensure effective governance at SADAFCO, the company constantly communicates openness and accountability. Moreover, within operations the governance systems manage risks, disclose conflicts of interest, implement adequate measures to ensure compliance, and create value for all stakeholders. 
To read more SADAFCO’s inaugural sustainability report and its initiatives please click here
-  Ends -

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 5539 times
PR Category : Banking & Investments
Posted on : Tuesday, September 6, 2022  1:06:00 PM UAE local time (GMT+4)
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