Guoco Group, being part of the larger Hong Leong Group, is built on the strong heritage of value creation for our stakeholders and communities within which we operate. Over the years, we have taken a progressive approach in integrating sustainability into our businesses, towards a stronger, more resilient group, and pursue the mission “Guoco Sustainability Value Creation”.
Our ESG Framework
Sustainability is a fundamental responsibility of the Group and has increasing priority for fostering company longevity. We integrated our core values into the foundation and principles for the Group’s long-term corporate practices, and have established a holistic ESG framework across all business groups to lay out our priorities in pursuing our mission. By integrating ESG factors into our strategies, governance and management processes, we seek to grow our businesses responsibly while striking a balance between environmental and economic considerations, creating a positive impact for our stakeholders and communities.
Governed by Group policies with oversight by the Guoco Board, our sustainability framework sets out our commitment under four pillars, namely Towards a Greener Future, Empowering our People, Conducting Business with Honour, and Caring for Our Community. Pursuant to this framework, all business groups will develop their own ESG capabilities under the same ambit and manage their development approaches and practices according to the industries, markets and countries in which they operate. This together guides our daily business operations and decision-making for realizing long term value and lasting growth.
Starting in FY2022, we aligned our ESG framework with the UN SDGs, identifying goals that are relevant to our operations and to which we can contribute. We are fully committed to achieving these goals by employing our scale and engaging in partnerships to drive meaningful positive changes.
The Group’s governance structure underpins a solid edifice to integrate sustainability efforts at all levels from the Guoco Board, Board Committees to the respective boards of business groups and committees / offices as well as their operations for developing and delivering our commitment. Sitting at the top, the Board is responsible for the oversight of sustainability at Guoco Group.
Materiality assessments were conducted to identify sustainability issues that are considered more relevant to our specific business activities and markets. We prioritise the material topics that have significant impacts on the Group’s ability to achieve its mission of “Guoco Sustainability Value Creation” based on the importance of these issues to our key stakeholders, regulators’ expectations and industry benchmarks.
Mitigating Climate Change
To better mitigate risks from climate change and identify potential opportunities, Guoco Group has implemented a group-wide climate risk management policy that incorporates some major elements under the Recommendations of the Task Force on Climate-Related Financial Disclosures. The policy sets out a systematic, disciplined process for identifying, assessing and managing the Group’s climate-related risks for sustainable business development. All of our subsidiaries are encouraged to conduct climate risk assessments to evaluate the physical and transition risks of their operations.
We endeavour to strengthen our climate risk management to ready us all for future challenges. Please refer to our latest ESG Report for the progress made by our subsidiaries in the past financial year.