Corporate Social Responsibility Policy Statement

Reference Number: WI-QUA-002 Revision 0

1.0 Purpose

Eastron Europe is strongly committed not just to its shareholders, but also to a wide range of stakeholders including customers, suppliers, employees, creditors, regulators and the community. Taking a proactive approach to corporate social responsibility (“CSR”) is not only a part of Eastron Europe’s heritage, inherent in the various strands of the company, but it has also become crucial to Eastron Europe’s business success. CSR is an integral element in maintaining the Eastron Europe’s position as a responsible business that contributes positively to the development of the communities in which Eastron Europe operates. 

2.0 Approach

Eastron Europe’s recognises the differences in social, economic and environmental needs in each individual market. This Policy outlines Eastron Europe’s CSR approach and priorities from Eastron Europe’s perspectives to implement CSR practices across its operations. Business units are required to consider relevant CSR initiatives and programmes based on needs of the place where they operate. This is a core responsibility of each business unit team.

All companies working with Eastron Europe should request those representing them, such as consultants, agents and independent contractors, to agree to follow the Eastron Europe’s CSR policy and practices.

Eastron Europe sees CSR as obligations as well as opportunities. CSR practices are embedded across all operations of Eastron Europe, and form the bases upon which Eastron Europe manages its business, its people and outside parties. Eastron Europe tasks itself to deliver social responsibilities in the following areas:

The Business 

  • To achieve the objective of enhancing long-term return for its stakeholders, t Eastron Europe focuses on sustainable development of its businesses and the communities where it operates.
  • Across all businesses, Eastron Europe is committed to complying with all relevant and applicable laws within its operational frameworks.  Eastron Europe conducts its business with uncompromising integrity. Every member of Eastron Europe – directors, executives, managers, employees and business partners – has a duty to comply with all applicable laws and adhere to the highest standard of business ethics. 
  • Eastron Europe operates in a way that safeguards against unfair business practices.  Eastron Europe strives to achieve a high standard of corporate governance and emphasises a quality board, sound internal control, transparency and accountability to all stakeholders. 
  • Eastron Europe established a committee to evaluate potential investment decisions. Investment decision takes into account the environment, social and governance (“ESG”) performance of the targeted investment (where applicable). Relevant ESG aspects and performance criteria such as compliance with laws and regulations, labour supply and relations, supply chain and customers, environmental and social risks, management capability, integrity and financial management will be assessed and considered as part of the overall investment decision. Continuous monitoring of the ESG performance of Eastron Europe’s invested business is conducted.

The People

  • Eastron Europe’s success through excellence depends on the performance of its employees at every level. The values the Group inculcate in its employees are: candour, courtesy, integrity, an ability to deal with change and respect for humanity, personal dignity and privacy. 
  • Eastron Europe strictly adheres to non-discriminatory employment practices and procedures. It is also committed to providing a positive work environment that values the wide-ranging perspectives inherent in its diverse workforce and fosters individual growth and achievement of business goals. 
  • Eastron Europe upholds a high standard of business ethics and personal conduct of its employees. Every employee is required to strictly follow the Eastron Europe Employee Code of Conduct which covers the professional and ethical standards in conducting business. 
  • Eastron Europe believes in the benefits of providing a positive work environment where people can grow, it offers a wide range of training and development programs and interest courses and activities. 
  • Eastron Europe maintains proper systems to ensure internal equity and external competitiveness of staff remuneration and recognition. 
  • Eastron Europe is committed to providing a safe workplace for all its employees. To this end, Eastron Europe is to comply with or exceed the applicable health and safety laws and regulations. Safety and health considerations should be integrated in the design, maintenance and operations of Eastron Europe’s facilities. 

The Community 

  • Eastron Europe undertakes philanthropic efforts as well as community initiatives that are catered to the needs and benefits of the communities where it operates. Focus of the Group’s community initiatives include employee volunteerism, education, medical, health and elderly care, arts and culture, as well as sports and disaster relief. 
  • As a good governance practice, donations and contributions are subject to internal compliance guidelines and controls so as to safeguard stakeholder and shareholder interests.
  • Eastron Europe encourages its employees to play a positive and active role in the communities where they live and work, and in cities and towns around the world.

The Environment 

  • Eastron Europe is committed to environmental excellence. It is committed to complying with or exceeding the relevant laws and regulations to control any greenhouse gas emission, discharges into water and land, and waste generation. Where applicable, targets are set and regularly reviewed, and results are assessed to ensure the efficiency of the measures to control emissions. 
  • Eastron Europe implements various initiatives to monitor and manage the use of resources, including energy, water and other raw materials. Operating companies with high consumption of energy, water and/or raw materials should have policies setting out the control measures to accomplish this objective. 
  • The Group is committed to minimising the impact of its business activities on the environment and natural resources. Environmentally-friendly materials, products and processes with potential commercial applications are to be actively adopted, developed and implemented where possible. Support for conservation and Eastron Europe Limited Corporate Social Responsibility Statement environmental protection programmes are encouraged and provided. Efforts will be regularly reviewed to ensure their efficiency. 

3.0 CSR Review, Reporting and Disclosure

Recognising that stakeholder expectations will evolve, Eastron Europe regularly reviews its business operations and proactively engages in communication with stakeholders to identify and respond to emerging issues. In tandem, Eastron Europe regularly reviews the CSR practices and performance and reports to the Board of Directors of the Company. The Group’s CSR performance is reported on an annual basis in the Company’s Sustainability Report.