The WBCSD's Reporting Matters 2023 campaign meticulously analyses sustainability reports from 250 global companies, evaluating their overall performance based on transparency and the effectiveness of sustainability efforts. Charoen Pokphand Group has secured this prestigious recognition for the second consecutive year, thanks to sustainability reports that comprehensively outline agendas, strategies, and an emphasis on stakeholder engagement.
The other 10 companies recognised as top sustainability performers by WBCSD this year include: DSM, a Dutch multinational in health and nutrition; 2. EDP (Energias de Portugal), Portugal’s electricity infrastructure company; Enel SpA, Italian producer and distributor of electricity and natural gas; Eni SpA, Italian oil and gas company; ERM, UK business consulting and sustainability service provider; Mondi Group, Austrian paper and packaging company; Novartis, Switzerland’s leading pharmaceutical company; Philip Morris International SA, US cigarette and tobacco manufacturer; Solvay SA, Belgian manufacturer and distributor of medical, chemical and plastic products; Stora Enso Oyj, Finnish paper pulp manufacturer.
Suphachai Chearavanont, Chief Executive Officer of Charoen Pokphand Group, stressed the significance of sustainability reports as catalysts for change, fostering awareness, goal-setting, performance indicators, organisational communication, and data collection seamlessly integrated into business operations. Sustainability reports also promote transparent business operations and public information disclosure, enabling year-on-year performance comparisons within the company and against others. They ensure efficient learning and verification processes while reducing the risk of 'greenwashing,' which can create a false image of sustainability to mask negative or irresponsible practices. This transparency ultimately encourages a race to the top among business operators.
CP Group takes pride in being recognised among the top sustainability performers by WBCSD for two consecutive years. Evaluated based on WBCSD's three criteria—principles, content, and effectiveness—CP Group demonstrated continued improvement in sustainability reporting under international standards, covering economic, social, and environmental aspects, and providing details of standards used as a reference in their reports.
CP Group's 2022 sustainability report was particularly commendable in three aspects:
Materiality assessment: The report introduced a novel system called 'Double and Dynamic Materiality' for a better understanding of sustainability that adapts to different situations and periods.
Clear sustainability strategy: The report reflected this strategy in operational plans, financial impact, operational evidence, and the corporate goal of achieving net-zero emissions by 2050, supported by short and long-term plans to limit greenhouse gas emissions. The report also highlighted CP's commitment to transparency by disclosing key information to the public.
Continued stakeholder engagement: CP Group's ongoing efforts to maintain relationships with stakeholders from various sectors were evident, as displayed in the group's annual relationship assessment, which collects opinions and in-depth data from stakeholders and promotes their involvement in the group's sustainability efforts.
CP Group's 2022 sustainability report, prepared under the concept 'Making Today a Better Tomorrow,' underscores the group's commitment to achieving its 15 sustainability goals by 2030 under the three main frameworks of Heart, Health, and Home. The report covers sustainability operations in economic, social, and environmental aspects, aligning with the United Nations' Sustainable Development Goals (SDGs). It also highlights tangible achievements, challenges, and future plans for CP Group's companies and affiliates, with a strong focus on innovation development and its contribution to the group's sustainability goals.
In addition to the main sustainability report, CP Group produced six additional topic-specific reports, covering materiality assessment, stakeholder engagement, sustainability performance, SDGs, Task Force on Climate-related Financial Disclosure (TCFD), and Biodiversity (TNFD). These reports enhance understanding of key sustainability topics, maximise the efficiency of cooperation with stakeholders, manage risks, identify opportunities, add long-term value, drive positive impacts, and reduce negative ones on the group's operations and society.
You can download Charoen Pokphand Group's Sustainability Reports 2022 here, and explore additional topic-specific reports on cpgroupglobal.com under "Additional Topic-Specific Reports." For the full WBCSD Reporting Matters 2023 report, you can download it here.
