Wilmar International Limited (“the Company” or “Wilmar”, together with its subsidiaries, the “Group”) today published its Sustainability Report 2023 for the financial year ended 31 December 2023 - its 12th such report since the Group started issuing sustainability reports in 2009.
The 2023 Report offers a data-driven perspective on the Group’s milestones and achievements in its environmental, social and governance (ESG) goals.
It is aligned with the Global Reporting Initiative (GRI) Standards 2021, including the sector standard GRI 13: Agriculture, Aquaculture and Fishing Sectors 2022, the Sustainability Accounting Standards Board Standards, the Task Force on Climate-related Financial Disclosures recommendations and the Singapore Exchange reporting requirements.
Corporate climate action
Following Wilmar’s sign-up to the Science Based Target initiative (SBTi), it has completed the mapping of its Scope 1 and 2 greenhouse gas (GHG) emissions for the new baseline year of 2022. The Group is crafting time-bound plans that outline its strategy for achieving its near-term and net-zero emission targets which will be submitted to the SBTi for validation in 2024.
The Group’s overall GHG emissions intensity fell 4.1 per cent in 2023 due to improved energy efficiency across key business units such as sugar, oleochemicals, soy protein and tropical oil refining.
Transforming our supply chain
Wilmar has achieved 100 per cent traceability to plantation (TtP) for all its own mills since 2015. As of December 2023, Wilmar has attained 90.6 per cent TtP and 98.8 per cent traceability to palm oil mills across its global supply chain.
Supply chain compliance with respect of Wilmar’s No Deforestation, No Peat, No Exploitation (NDPE) Policy is detailed in the third annual edition of the stand-alone Palm NDPE Implementation Report published alongside the Sustainability Report.
The Group also made strides in establishing a more sustainable sugar supply chain in 2023. Its efforts have been well-received by the industry and gained formal recognition from the Sustainable Agriculture Initiative Platform for the alignment of its No Deforestation and No People Exploitation Sugar Policy with the Gold Level Equivalent in the Farm Sustainability Assessment 3.0.
In 2023, the Group also established the Coconut Responsible Sourcing Policy which aims to establish a transparent, ethical and responsible coconut supply chain that supports resilient livelihoods in the rural communities where it operates.
Looking after people and communities
Wilmar formally adopted an updated Board Diversity Policy in 2022. This Policy includes quantitative gender diversity targets for increasing female representation on the Board of Directors, as we fully appreciate the varied skill sets and insightful perspectives a diverse Board can offer.
Recognising that people are its greatest assets, the Group invested over US$5.5 million in employee training and development; while on the community front, it contributed over US$23.4 million to community investment and philanthropic activities in 2023.
In recognition of the Group’s efforts in safeguarding children and advancing their rights, Wilmar topped the Global Benchmark 2023 Leaderboard of the Global Child Forum, in addition to attaining a perfect score in the Global Benchmark 2023 Food, Beverage & Personal Care sector category.
In 2023, Wilmar continued to be the only Singapore company under the Food Products category included in the Dow Jones Sustainability Indices (DJSI) World Index for the third consecutive year and fourth straight year on the DJSI Asia Pacific Index.
Wilmar’s Sustainability Report 2023 is intended to be read in conjunction with its Annual Report 2023 and the sustainability-related disclosures on its Sustainability Dashboard. Ernst & Young LLP provided independent, limited assurance on selected disclosures in the Sustainability Report, while material disclosures related to Wilmar’s palm value chain have been assured by Control Union Certifications.
About Wilmar’s sustainability
As a leading agribusiness group, Wilmar recognises that we have a fundamental role to play in developing quality products required by the world while ensuring we have a responsible and sustainable manner of production. We adopt a holistic approach to sustainability that is fully integrated with our business model.
Guided by the philosophy that our business must enhance stakeholder value while minimising our environmental footprint, our business practices are aligned with universally acceptable social and environmental standards. Wilmar’s No Deforestation, No Peat, No Exploitation Policy and No Deforestation and No People Exploitation Sugar Policy, introduced in 2013 and 2021 respectively, underpin our aspiration to make a positive impact and drive transformation across the palm oil and sugar sectors.
For more information, please visit www.wilmar-international.com/sustainability.
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