FGV Annual Report 2020

FGV GROUP SUSTAINABILITY POLICY (GSP) 4.0 The FGV GSP serves as an overarching framework for FGV’s sustainability agenda. The GSP comprises three pillars namely promoting economic growth, respecting human rights and protecting the environment. The GSP applies to the whole of FGV Group including its listed and non-listed subsidiaries worldwide as well as to FGV’s contractors and suppliers. As part of our commitment to continuous improvement, in November 2020, we reviewed and revised our Group Sustainability Policy 4.0 (GSP 4.0), which strengthened a number of provisions namely those relating to FGV’s commitment to human rights, with a view to aligning them with the Fair Labor Association (FLA)’s Workplace Code of Conduct (WCOC), which is based on international human rights and labour standards. The latest review of the GSP involved a series of consultations with internal and external stakeholders including with civil society organisations, academicians and relevant United Nations agencies. At the heart of the GSP, we indicate our strong commitment to uphold the principle of No Deforestation, No Peat and No Exploitation (NDPE) . The GSP communicates FGV’s commitment, as a business entity founded on the ideals of poverty eradication and sustainable development, to deliver value to our customers and stakeholders especially our smallholders. This includes upholding international principles, standards and practices as key measures of our sustainability journey and practices. To be recognised as a responsible business leader, FGV also submits itself to rigorous sustainability audits by world-renowned certification authorities such as the Roundtable on Sustainable Palm Oil (RSPO), and its Malaysian variant, the Malaysian Sustainable Palm Oil (MSPO). lity at Work Being one of the largest producers of Crude Palm Oil (CPO), we cater to international markets, where our export volume is influenced by being certified Sustainable Palm Oil (CSPO). Such value creation for stakeholders can only be accrued by adopting sustainable practices in all that we do as an organisation. Besides the palm oil industry sustainability watchdogs, our sustainability practices are also shaped by the United Nations Sustainable Development Goals (SDGs), the United Nations Guiding Principles on Business and Human Rights (UNGPs) and the Universal Declaration of Human Rights (UDHR). As a Group, we have made sustainability one of the key enablers to help us achieve the objectives of our Business Plan 2019-2021 (BP21). Ensuring that we are in line with international and industry best practices, we have adopted our GSP, with the latest update in November 2020. This is FGV’s 6 th year of integrated reporting, and details of our 2020 sustainability activities can be found in the latter part of this section and our website at www.fgvholdings.com . Our sustainability reporting practices adhere to Bursa Malaysia Securities Berhad’s 2 nd Edition Sustainability Reporting Guide. We are also guided by the Global Reporting Initiative Standards on sustainability reporting, International Intergrated Reporting Council (IIRC) Framework and other global best practices. 97 Who We Are How We Operate How We Are Governed Additional Information Sustainability Matters Statement & Discussion By Our Leaders