Our commitment to sustainable development is evident at all levels of our organisation. A clear goal and vision to improve underlines our efforts. At the leadership level, our Board of Directors and Senior Management recognise the importance of pursuing the sustainability agenda. In 2017, the Board of Directors discussed and approved our 5-Year Strategic Business Plan, which now has three key focus areas or pillars - Growth, Operations and Sustainability. We believe that the financial performance and business excellence are pre-requisites to building a sustainable business for the future. We measure our success beyond financial targets and place great emphasis on the impact our business has on communities as well as the environment.
The 5-Year Strategic Business Plan and its three key pillars:
Sustainable growth is crucial to ensure our long-term business viability. Operational excellence through best practices and technology interventions is a must for improving efficiencies. And sustainability is essentially about our responsibility towards the overall health of the organisation, in terms of financial, operational and the human aspects of our business. Our focus on these three pillars will help monitor and manage our environmental, social, and governance impacts. Our sustainability approach is linked to the Group’s risk management stewardship which can be found in the Statement on Risk Management and Internal Control section of this Annual Report.
We engage with industry professionals including organisations and experts to share knowledge, information, experience and best practice, as well as to stay abreast of current and emerging developments, trends and opportunities for our business. Malakoff is a member of Penjanabebas, an association of IPPs in Malaysia.
Although we often adopt international standards and practices, we do not easily endorse international charters and principles due to the fact that we take these initiatives very seriously and do not adopt them unless we are certain we can meet all the relevant criteria or requirements. Even if we do not officially adopt them, we would use or reference best practices from such charters to continuously improve.