REPORTING ON SUSTAINABLE FINANCIAL PRINCIPLES FOR THE
NIGERIAN CAPITAL MARKET
NESTLĖ NIGERIA PLC SUSTAINABILITY REPORT TO SECURITIES &
EXCHANGE COMMISSION AND THE NIGERIAN EXCHANGE
LIMITED
FOR THE YEAR ENDED
12/31/2022
Principle 1: Environmental, Social and Governance (ESG) Considerations
- Regulated entities should put in place effective governance structures and consider the impact of their operations and activities on the environment and society.
- The entities should innovate and implement measures that promote the good of the communities and the natural environment in which they operate. Factors to be considered include:
- Efficient use of resources, such as energy and water;
- Effective waste management;
- Compliance with applicable labour and social standards; and
- Alignment of their community development programmes with Nigeria's overall goal for sustainable economic and social development.
- They should establish appropriate ways to encourage and promote desired behaviours of employees to meet ESG standards.
Kindly disclose the implementation status of Principle 1 in your entity by ticking ( √ ) in the appropriate cells in the table below and offer a brief description of your efforts so far.
Indicators | Completed | In | Yet to | Not | Brief description of action(s) taken towards implementation |
progress | start | applicable |
1.1. Entities should develop appropriate policies | √ | - The Nestlé Corporate Business Principles specifies the | |||||||
to integrate ESG considerations into | foundation for Sustainability and Creating Shared | ||||||||
decision-making processes and enterprise | Value. It also highlights the 10 principles for business | ||||||||
risk management framework. | operations including ESG considerations. Other | ||||||||
policies like the Nestlé Policy on Environmental | |||||||||
Sustainability, Nestlé Management Systems Policy and | |||||||||
Code of Business Conduct also reflect the company's | |||||||||
ESG standards and commitments. | |||||||||
1.2. Entities should also develop robust and | √ | - The Nestlé Code of Business Conduct and Ethics | |||||||
transparent procedures, which entail clear | specifies and helps the continued implementation of | ||||||||
governance structures, limits of authority, | the Corporate | Business | Principles | by | establishing | ||||
standards and codes of conduct, to support | certain | non-negotiable | minimum | standards | of | ||||
implementation of their policies and the | |||||||||
behavior | in key | areas. It | also provides | a frame | of | ||||
Principles. | |||||||||
reference against which to measure company | |||||||||
activities and governance structures. | |||||||||
1 |
Indicators | Completed | In | Yet to | Not | Brief description of action(s) taken towards implementation | |||||||
progress | start | applicable | ||||||||||
1.3. Entities should put in place programmes for | √ | |||||||||||
managing their environmental and social | In 2020, Nestlé SA introduced her net zero roadmap, with | |||||||||||
footprints1. The programmes should reduce | commitment to halve GHG emissions by 2030 and achieve | |||||||||||
greenhouse gas emissions, promote efficient | net zero by 2050. The roadmap also details global | |||||||||||
use of water and energy, and improve waste | strategies for plastic waste management, regenerative | |||||||||||
and construction management. | agriculture and improved operational efficiency. | |||||||||||
Below are local examples of some programs geared | ||||||||||||
towards managing Nestlé Nigeria's environmental | ||||||||||||
footprints: | ||||||||||||
Greenhouse gas emission reduction: Generation of | ||||||||||||
electricity and steam using natural gas fuel - with less | ||||||||||||
CO2 effect. | ||||||||||||
Efficient use of water: Effective water recycling system for | ||||||||||||
water reuse purposes (For irrigation and cleaning of non- | ||||||||||||
production areas) to reduce water withdrawal. | ||||||||||||
Efficient use of energy: Use of CCHP (combined cooling, | ||||||||||||
heat, and power) systems for generating electricity and | ||||||||||||
use of economizer for steam boiler energy efficiency. | ||||||||||||
1.4. Entities should outline the minimum labour | √ | Nestlé Nigeria fully supports the United Nations Global | ||||||||||
and social standards they will apply in | Compact's (UNGC) guiding principles on human rights | |||||||||||
managing their operations consistent with | and labour and aims to provide an example of good | |||||||||||
good practice, such as the United Nations | human rights and labour practices throughout our | |||||||||||
Declaration of | Human | Rights | and the | |||||||||
business activities. Nestlé Nigeria also complies with all | ||||||||||||
International Labour Organisation Charter. | ||||||||||||
applicable Nigerian Labor Laws. | ||||||||||||
1.5. Entities should | develop | and | promote | √ | Nestlé Creates Shared Value for stakeholders in its | |||||||
investment in community projects and | communities by investing in projects to improve livelihoods. | |||||||||||
initiatives with the aim of contributing to the | Projects include: | |||||||||||
sustainable development of their host | 1. Rural development | |||||||||||
communities. | ||||||||||||
2
Indicators | Completed | In | Yet to | Not | Brief description of action(s) taken towards implementation | ||||||||||
progress | start | applicable | |||||||||||||
i. | Improving access to water and sanitation. | ||||||||||||||
We provide over 14 million litres of clean | |||||||||||||||
safe water to our communities daily. 16 new | |||||||||||||||
WASH facilities were commissioned in the | |||||||||||||||
past 3 years. | |||||||||||||||
ii. | Improving | teaching | and | learning | |||||||||||
environments in schools within our | |||||||||||||||
communities | by renovating | classrooms, | |||||||||||||
providing WASH facilities, libraries and | |||||||||||||||
playgrounds as needed. | |||||||||||||||
2. Youth empowerment | |||||||||||||||
i. | Technical Training program at the Nestlé | ||||||||||||||
Technical Training Centers in Agbara and | |||||||||||||||
Abaji | |||||||||||||||
ii. | Community | scholarship | scheme for | ||||||||||||
secondary and tertiary education | |||||||||||||||
1.6. Entities should articulate, in their sustainable | √ | Nestlé's Responsible Sourcing Standard is shared with all | |||||||||||||
finance policies and procedures, ESG | vendors on registration. The policy covers Environmental | ||||||||||||||
procurement | standards | for | suppliers, | and social care, Compliance, Human Rights, Safety and | |||||||||||
contractors, and other third-party service | Health etc. | ||||||||||||||
providers | |||||||||||||||
1.7. Entities should monitor their service providers | √ | Nestlé retains the right to audit the activities of service | |||||||||||||
to ensure compliance with the ESG | providers to ensure compliance and carries out spot | ||||||||||||||
standards. | checks from time to time as required. | ||||||||||||||
1.8. Entities should | regularly | conduct | internal | √ | In 2022, an external audit of ESG practices was performed | ||||||||||
reviews of the integrity and quality of ESG | by Ernst and Young. | ||||||||||||||
practices and procedures for continuous | |||||||||||||||
improvement. | External | audit | of ESG | ||||||||||||
practices and procedures may also be | |||||||||||||||
undertaken. | |||||||||||||||
1.9. Entities should set criteria for reporting their | √ | Environmental Impact Assessments which cover several | |||||||||||||
ESG risk assessment processes on their | environmental risks areas are performed and reviewed | ||||||||||||||
business operations and activities. | regularly. | ||||||||||||||
3 |
Principle 2: Collaborative Partnership and Capacity Building
Regulated entities should collaborate with stakeholders to raise awareness on ESG issues, build capacity, manage risks, developinnovative solutions and promote widespread action across the Nigerian financial system.
Kindly disclose the implementation status of Principle 2 in your entity by ticking ( √ ) in the appropriate cells in the table below and offer a brief description of your efforts so far.
Indicators | Completed | In | Yet to | Not | Brief description of action(s) taken towards implementation |
progress | start | applicable |
2.1 Develop an ESG policy e.g., √
sustainable policy - to serve as a | The Nestlé Corporate Business Principles specifies the | |||||
tool and strategic framework to | foundation for Sustainability and Creating Shared Value | |||||
guide and support the entities in | ||||||
the delivery of its sustainable | ||||||
agenda. | ||||||
2.2. Dedicate | Environmental | √ | The Safety, Health and Environment (SHE) Department | |||
Sustainable Office (ESO) to work | oversees, monitors and coordinates the implementation of | |||||
assiduously in enshrining in the | environment related policies across the organisation. | |||||
organization the workings of its | ||||||
sustainable policies. | ||||||
2.3. Develop structural mechanisms to | √ | The company's structure for the implementation of the | ||||
guide the implementation of the | Sustainability Agenda Management team oversees. | |||||
structural policies and guidelines. | ||||||
2.4. Have an | internal capacity | to | √ | Same as 2.2 and 2.3 | ||
support the implementation | of | |||||
sustainable | policies | and | ||||
guidelines. | ||||||
2.5. Engage and created the buy in of | √ | Same as 2.2 and 2.3 | ||||
key stakeholders to support the | ||||||
implementation of the policies. | ||||||
2.6. Develop | and | implement | the | √ | Our Policy on Environmental Sustainability documents our | |
entity's sustainable strategy. | strategy in relation to sustainability. |
4
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Nestlé Nigeria plc published this content on 28 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2023 16:25:30 UTC.