S&P Virtue for Sustainability
S&P Syndicate Public Company Limited
Project Commitment to Sustainable Development Goals (SDGs)
SUSTAINABILITY OBJECTIVES
S&P Syndicate Public Company Limited (S&P) has determined that its strategies toward sustainability cover 3 dimensions: People, Planet, and Profit. Based on good corporate governance, the company has focused on strategic management with 7 Sustainable Development Goals, specified as short-term and long-term goals to strengthen its abilities and operations.The company works to achieve food security, improve nutrition, promote sustainable agriculture, ensure healthy lives, and promote well-being for all at all ages. S&P also set goals to improve quality of life by ensuring inclusive, equitable, and quality education for lifelong learning opportunities for all and to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Other goals include ensuring sustainable consumption and production patterns as well as taking urgent action to combat climate change and its impacts. Finally, S&P intends to strengthen its means of implementation and revitalize the global partnership for sustainable development.
BENCHMARK AND STRATEGIES
S&P is committed to improving sustainability throughout its value chain, which includes sourcing, production, distribution, marketing, sale, and waste management all the way to the final manufacturing process to provide its customers with the best products possible. For its procurement strategy, S&P trading partners must accept and comply with the S&P Code of Conduct for Business Partners so that they shall be transparent, traceable, and have the S&P standard of quality. S&P also has policies to support local farmers, SMEs, and environmental-friendly products.Besides that, S&P has concentrated all production processes on controlling the product quality to satisfy the required hygiene and safety standards and has complied with the legal requirements of Thailand and international management standards such as GMP, HACCP, ISO, GHPs, etc. In addition, S&P uses renewable energy by installing solar roofs for the bakery process and plans to expand this technology in various other factories.
Finally, S&P has invested in the establishment of the “S&P SMART Distribution Center” for warehouse management and transportation planning. The company has improved its logistic management to increase the potential capacity and reduce empty transportation and thus, reduce its greenhouse gas emissions. The company also has plans to use Electric Vehicle Trucks for the distribution of products to its stores in 2023.
STAKEHOLDERS’ ENGAGEMENT
Stakeholder groups have been identified and prioritized by the management team and staff representatives from various departments with consideration based on their importance to direct and indirect business operations throughout S&P’s supply chain. Every year, the company makes sure that its stakeholders are up-to-date on its interests and expectations, global trends, industrial prospects, and changes in legal requirements.S&P sorts its principal stakeholders into 7 main groups. Four of these are investors & shareholders, government & regulating authorities, customers, and employees. Other groups include suppliers, community & society, and finally, independent entities, mass media, & online influencers. S&P has emphasized the rights of all stakeholder groups by complying with the regulations, including other laws related to the rights of stakeholders to receive proper and fair treatment. S&P has a sustainable development team to promote organizational cultures and evoke awareness in all individuals in the organization, ensuring that everyone balances caring and developing the environment with stakeholders’ interests for the sustainable growth of S&P.
DISCLOSURE AND CREDIBILITY
The content of this report is framed according to the company’s overall operations and material issues that affect the 3 dimensions of sustainability from all stakeholder groups’ perspectives. The reporting framework aligns with the international sustainability reporting standard, Global Reporting Initiatives (GRI) Universal Standards 2021, and has been approved by the company’s Board of Directors.S&P combined the results of the three dimensions to build its sustainability materiality matrix. In 2022, there were the top 9 topics that S&P determined to have the greatest impact. These are Product Quality, Good Governance & Ethics, and Customer Relation Management under the Economic dimension. For the Environment dimension, the topics are Waste & Food Waste Management, Sustainability Packaging, and Energy Management & Green House Gas Emissions. Finally, the Society dimension’s topics are Good Health & Well-being for All, Human Resource Management, and Responsible Marketing & Communication. S&P is honored to receive the Asia Responsible Enterprise Award 2023 which assures the company passed the award criteria and reflects the transparency and reliability of the company’s performance in every respect.
S&P Restaurant and Bakery shop has been stable in operation for 50 years. It is Thailand’s
cake and bakery industry leader with currently 470 restaurants operating both
domestically and abroad. The company also provides full-service offerings such as food,
bakery, coffee, and ready-to-eat items.
