Materiality and strategy
We have a list of material issues that are of medium- and high-level importance to the Group and our external stakeholders.
The list was compiled by engaging internal and external stakeholders, including employees, suppliers, investors, trade unions, non-governmental organizations (NGOs) and industry organizations.
In 2017, we continued to address the highest priority issues, which form the foundation of our sustainability business framework for our tobacco business. We are committed to carrying out materiality reviews on a regular basis in order to update issues that are important to us. We plan to revisit our material issues over the coming years.
Driving our sustainability agenda
In 2017, we established a Sustainable Business Framework for the Group’s tobacco business. This strategic framework covers all of our material issues and is underpinned by our 4S model
The framework covers 4 strategic focus areas for sustainability:
›› Exceeding expectation with products and services
›› Investing in our people
›› Building sustainable supply chains
›› Optimizing the regulatory environment and combating illegal trade
Whilst the strategic focus areas are dynamic and may change over time, they are supported by three key enablers that are at the heart of everything we do. These are: respecting human rights, enhancing our social and environmental impact, and exercising good governance and business standards.
In our tobacco business, we have established long-term goals for each strategic focus area. These targets and commitments will be put in place in 2018 and we will report on these in detail in our next sustainability report.
Our pharmaceutical business, and processed food business both plan to perform the same exercise in order to establish their respective sustainable business frameworks. We will update you on their progress in future reports.