Aamal Company Q.P.S.C.
Social and Governance "ESG"
Framework and ESG Disclosures
Sustainability at Aamal
Aamal Q.P.S.C. ("Aamal" or "the Company") was one of the ﬁrst listed companies in Qatar to embrace the Qatar Stock Exchange (QSE) Guidance on Environmental, Social and Governance (ESG) Reporting, setting the path for other listed companies to follow the same.
Aamal named as one of the "30 Most Valuable Companies in Qatar"
For the outstanding ﬁnancial results and performance in 2021, Aamal was ranked amongst the 30 Most Valuable Companies in Qatar according to Forbes Middle East.
Aamal's ﬁnancial performance reﬂects the Company's ability to leverage its position as a strong player across key economic sectors by focusing on high growth areas, diversiﬁcation, innovation, and operational excellence.
The information presented in this ESG Report is aligned with the QSE ESG Guidance and references international best practices including the GRI Standards, the Sustainability Accounting and Standards Board (SASB), and the United Nations Sustainable Development Goals (UN SDGs), as well national standards and initiatives including the Qatar National Vision 2030 (QNV).
ON ESG REPORTING
Aamal Company QPSC
Annual Report 2021
Subsidiaries in focus
In 2021, Aamal added a subsidiary, ECCO Gulf, to the reporting scope of its ESG Report, increasing its coverage to include the following 11 subsidiaries together with the head ofﬁce:
Aamal Company Q.P.S.C.
Doha CablesAamal Readymix
Ebn Sina MedicalAamal Medical
Aamal Cement Industries
Ci San Trading
Ebn Sina PharmacyFoot Care
CenterAamal ECEECCO Gulf
The scope of this report covers the 11 subsidiaries and the head ofﬁce unless mentioned otherwise, with all quantitative data restated accordingly for 2021. Aamal aims to continue expanding its coverage across all its subsidiaries over the coming years, in order to enhance its ESG disclosure practice and performance analysis.
Together, Aamal and its in-scope subsidiaries contribute 78.4% to the Company's revenues and 72.9% to the Company's net proﬁt.
Aamal ESG framework
"Aamal's ESG framework summarizes what sustainability means to it by identifying the key pillars of sustainability which need to be addressed and balanced. Sustainability across Aamal means having the utmost level of Business Ethics and Transparency, Serving our Communities, Empowering our Workforce and Protecting the Environment." - Mohammed Bin Faisal Al Thani, CEO and Managing Director.
Each pillar of Aamal's ESG framework is comprised of sub-elements covering the most relevant issues. This allows Aamal to effectively identify and prioritize the most signiﬁcant ESG issues to guide its strategic direction and focus, and to help generate ﬁnancial value for the business as well as economic and social value for its key stakeholders.
Aamal Company QPSC
Annual Report 2021
Aamal is committed to apply corporate governance practices of the highest standards, which emphasise honesty, integrity, ethical dealing, transparency, and accountability. Aamal understands that the key to its success as a business depends on investor trust, and we work diligently to eliminate any kind of fraud, bribery, corruption, and all forms of ﬁnancial crimes at the Company, while advocating for human rights. The Company is committed to creating cohesive working environment that treats all employees fairly and is free from discrimination or harassment.
Aamal believes that strong corporate governance is critical to ensuring high performance across all its activities - and is essential to building investor trust and safeguarding against any misguided corporate activity.
As such, Aamal has adopted a Corporate Governance Framework upon which its business affairs are governed and managed. This Framework takes into consideration the interests of all stakeholders and shareholders, and was enhanced through a strengthened Executive Management team and an effective Board committee structure.
This Corporate Governance Report covers the procedures followed by Aamal to ensure that it continue to adopt good governance practices which go above and beyond compliance with regulatory requirements. Aamal Cement and Aamal Readymix are certiﬁed with ISO 9001 Quality Management standards and ISO 31000 Risk Management standards, and the Company aims to adopt these ISO certiﬁcates for other Aamal subsidiaries in the future.
Code of Conduct Policy
Aamal have implemented, and abide by, a strict Code of Conduct (QSE #30), to ensure that across the Company, everyone continues to act in an ethical manner. This includes a zero-tolerance policy for bribery and corruption should any breaches of its standards occur. Aamal's Anti-Corruption Policy includes clear rules and guidelines that are strongly reinforced through awareness-raising and training programs provided for all staff (QSE #32).
Aamal employees have the right to work in an environment that is free from discrimination and harassment, and are entitled to be treated fairly, consistently, and with dignity and respect.
Aamal takes a zero-tolerance approach towards any kind of harassment. The Company's Anti-Discrimination Policy prohibits discrimination and harassment and offers guidelines on how to prevent and control such incidents. Reporting of non-compliance with this policy on any grounds is welcomed and encouraged, and there are formal channels available to make this as easy as possible. For example, Aamal has set up a 24/7 whistle-blowing page on its website that can be used for such purposes. Concerns are dealt with promptly and competently, and any employees found to be engaging in discriminatory behaviour or harassment are liable for disciplinary action, including dismissal. Reports and investigations of alleged incidents are conducted while respecting the rights of all the parties involved. Aamal's grievance procedure is a formal channel between management and employees and is accessible to any employee who feels wronged by an action of the Company or another employee regarding employment terms, conditions and relationships. Anonymity is protected if requested by the complainant.
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Aamal Company QSC published this content on 28 March 2022 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 28 March 2022 07:00:09 UTC.