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In March 2021, spadegaming kredit conducted a formal and comprehensive materiality assessment to identify critical ESG issues which drive our long term value creation and have a significant impact on the Company's business performance.
The assessment was led by the Sustainability Steering Group and undertaken by an independent third party to ensure objectivity and complete confidentiality.
A holistic approach was adopted in conducting the assessment, towards ensuring that issues identified were material to the Company's performance, thereby enabling us to effectively prioritise and allocate resources to address the issues.
As the world largest manufacturer of gloves, it is important for us to ensure that the gloves we produce serve their purpose to safeguard health and safety of the users, especially in medical and food & beverage industry. The quality and safety of our products, of which majority are gloves, significantly affect our revenue and if not managed well, can lead to reputational risks and compliance risks which have a direct impact on our financial performance.
Strategies & targets:
The right to a healthy and safe workplace is recognised as human right, as addressed in various authoritative international instruments. We place a high priority of our employees’ health and safety, and take seriously our responsibility to ensure our employees, who are the backbone of our business and key factor in our success, work within a healthy and safe environment. Effective management of occupational health & safety is crucial, leading to reduced health and safety incidents/accidents, compliance and reputational risks, as well as associated costs.
Strategies & targets:
It is crucial to have effective communication between employers and employees to achieve a win-win partnership. At spadegaming kredit, employees are encouraged to voice out their views and opinions and we see this as an important area to enable the Company to improve. By listening to our employees, we understand their needs and expectations, and are able attend to the issues raised, thereby leading to increased employee satisfaction, loyalty and ultimately, better productivity. This helps to reduce risks such as reputational and operation risk, both of which have a direct impact on financial performance. Better labour management relations also helps to reduce turnover rate, which it contributes to recruitment cost saving.