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CORPORATE GOVERNANCE

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OUR IMPACT

BY THE NUMBERS
recognized as one of the 135 companies in the World’s Most Ethical Companies for 2021 by Ethisphere Institute
100
%
of the employee from non-listed companies completed the C.P. Group ‘Code of Conduct’ training.
100
%
of business groups have grievance and whistleblowing processes
503
managers in Thailand and China had participated in risk management trainings and the Group’s Ethics and Compliance Risk Assessment activities

OUR WAY FORWORD

2030
Sustainability
Goals
Build an environment of trust, transparency and accountability necessary for fostering long-term sustainable success of the Group
100%
of businesses implement a corporate governance impact scoring assessment

MANAGEMENT

APPROACH
C.P. Group adheres to Corporate Governance Principles in our business conduct with fair treatment of all stakeholders. We operate transparently, with accountability to the principles of corporate governance and integrating it seamlessly into our business operations. Essentially, the corporate governance principles serve as a foundation for the board of directors in their business oversight, to ensure respect for the rights of all stakeholder groups, and to control and manage risks for highest business efficiency. This enhances sustainable value and growth for the company, the communities, and the countries in which we operate.
C.P. Group has established a working process to drive the concrete implementation of CG. We work with representatives from Group companies to ensure that our management approaches are aligned, and adhere to the Group's policies and guidelines. The Group's CG mechanism consists of CG structure development, work process creation, communication and engagement, reporting and performance monitoring, and performance disclosures.
In addition, C.P Group develops CG report on an annual basis to demonstrate the corporate governance, and the performance, ensuring strong corporate culture across the Group.
 
 

RISK MANAGEMENT
MANAGEMENT

APPROACH
C.P. Group adheres to enhance the effectiveness of risk management to create business stability using the Integrated Governance, Risk Management and Compliance (Integrated GRC) concept. The Group has developed Enterprise Risk Management according to the international standard of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), ensuring improvement and resilience of the company in our approach to manage risk that meet the demands of an evolving business environment and enhancing the capacity to build value.

EMERGING RISK

To proactively enact on potential risks and create business opportunities, C.P. Group regularly evaluates emerging risks that may derive from external factors which potentially affect our business operations. C.P Group has analyzed the potential risk factors and their impacts to develop an effective risk mitigation plan to manage the mid to long-term emerging risks to ensure enduring changes.
Pandemic (Human to Human)
Description: The outbreak of Corona Virus 2019 or COVID-19 has been creating global scale impacts, and it is alarming to realize the actual severity of these impacts. It is well-known that changing in climate patterns, melting of ice caps, and rising global temperature will increase the chance of new diseases and virus, intensify the severity of existing diseases and virus through mutation, and awaken the pre-dominant disease and virus that have been frozen within the ice caps. If these happen, it is predicting that the impacts will be much more critical and might reach the point of no turning back. All these scenarios are forecasting to happen within the next three to six years if no serious mitigations are being implemented to limit the rising of global temperature well below 1.5 degree Celsius.
Impacts: As a food producer and retail distributor with operation in 21 countries, safety and hygienic in production process is the topmost priority. In case of pandemic – human to human occur, it is likely to create impact in term of raw material shortage, and production interruption. If food producers fail to secure the safety and hygienic of products deliver to consumers and customers, then we will be facing numerous losses, such as financial, market share, customer base, reputational, and trust.
Mitigations: To prepare our employees, especially employees working in the production facilities, to be ready for next pandemic, CPG provides constant trainings, awareness building, and communications with our employees to be self-projection, as well as to be well-aware of any non-hygienic act. Moreover, CPG provides necessary and adequate personal protective equipment to our employees to ensure that no contamination will occur within the production processes and among employees themselves, practices social distancing to become the new normal, and uses more digitization and technologies in the production process.
Cyber Risks
Description: Through the technological era with digital-driven and dependency on technology, C.P. Group recognized the importance and concerns of cyber threats globally. The technology risk, data security risk, and related processes in all forms are an integral part of business risks. Despite an increase in awareness of cyber risks, its’ threats may cause high impacts because the cyber risks evolve faster than many other types of threats. Thus, C.P. Group has identified the potential of cyber risks which may interrupt business continuity. To ensure the readiness of the employee as well as enhance resilience skills within the organization.
Impacts: The cyber risks have the potential of causing impacts to all businesses of C.P. Group, especially the Agro-industry and food, retail businesses, and the operations of business lines. This interruption in business operations will leads to both monetary and non-monetary impacts such as; an increase in costs of production, and lessen in the company’s reputation. Moreover, cyber risks can cause effects to stakeholder groups and society. If the cyber risks occur without a suitable plan of mitigation and prevention, the company will losses credibility and eventually, it may take more time to recover from such consequences.
Mitigations: To ensure readiness in handling potential cyber risks, C.P. Group has established the Security Operating Center (SOC) to oversee and monitor all cyber-related issues within the Group. In addition, the management and operation with cyber risks have been included in the Information Management Policy as one of the foundations in managing the company. This policy is constantly reviewed and revised to ensure its alignment with technology evolvement and business context. Moreover, to assure a robust management process, the Group has also incorporated information technology international criteria such as ISO27001 and NIST to the management standards.
Food Security and Product
Description: As a leading food producer company, food security and product are at the core of our production. The demands in innovative and alternative products have been increasing as the customers’ lifestyle changes and focus shifted. There is an increasing attention to nutritious products with fewer impacts to the environment.
Impacts: With the aforementioned demands in food security and products, the company is facing high competitive in producing food products to ensure that our consumers have choices alternative food products that are right for their lifestyle in order to maintain and increase market share. As a food producer company, integrating innovation to production has become essential. Despite an increase in production cost and challenges that company face, assuring good quality products is the key. It will enhance company’s reputation and business growth over peers of the same business. In addition, supply chain interruption is one of the major impacts for food producer company. An increasing in variety of food products causes increase in number of suppliers. Hence, foster relationship with suppliers as well as manage good supply chain will lessen this impact.
Mitigations: To sustain the leading position in market share as a food producer company, C.P. Group focus on traceability and supply chain management processes that are consistent with global standards. We believe that strengthened operation processes will results in production of good products that is right for consumers and demand in the market.

WHISTLEBLOWER

C.P Group has implemented the whistleblower system as a channel to receive our stakeholders’ opinions which covers code of business conduct, bribery, ethics, corruption, as well as the customer’s voices on product and safety. Most importantly, the Group has ensured to comply with international standards, for instance in the areas concerning the responsibilities of relevant parties, protection measures for whistle-blowers, the investigation process, and penalties.
235
cases
Total Cases Received
5
cases
Discrimination and Harassment
1
case
Investigation
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