Minor International Public Company Limited

Minor Sustainability Strategy

At Minor, we develop Sustainability Strategy which is endorsed by the Board of Directors. Our strategy is the vehicle which drives us towards achieving our Sustainability Vision, by converting our aspirations into actions. The strategy builds on the foundation of our five Core Values and is aligned with Minor’s overall strategic direction. It is also aligned with TFCD (Taskforce on Climate-related Financial Disclosures) and relevant UN Sustainable Development Goals, as part of Minor’s support as a responsible corporate citizen.

During our annual strategy review process, we analyze global existing and emerging sustainability trends and identify potential risks and opportunities arising from such trends. We then review potential impacts and risk management initiatives, which are incorporated into our Sustainability Strategic goals and action plans.

To achieve Minor’s Sustainability Vision of strengthening long-term capabilities and performance of the company through sustainability, we identified three Strategic Pillars as key driving forces:

  • 1) Develop sustainable and capable human capital
  • 2) Drive for sustainable value chain management practices
  • 3) Manage environmental impact and advocate conservation

Supporting these Strategic Pillars are two Strategic Enablers:

  • 1) Strengthen good corporate governance and responsible business culture
  • 2) Integrate and advocate shared value practices in Minor’s operations

Minor Sustainability Strategy

Strategic Pillars

PEOPLE

Minor recognizes that sustainable and capable people in the company and the society are essential for the organization’s growth and competitiveness. We enhance people’s capabilities within our sphere of influence through the implementation of multi-tier approach – Grassroot: children, youth, and disadvantaged community members, Workforce, and Talents & Leaders.

Sustainability Goals:

  • 3 million people developed and supported by 2030
  • 50% of Minor Corporate University (MCU) program graduates return to work with our organization by 2023
  • 50% internal promotion of management levels each year

Our Approach:

  • Support local and disadvantaged community members, as good corporate citizen, through community investment, commercial initiatives, and charitable donations in alignment with Minor’s CSR and Volunteer Toolkit and Business for Societal Impact (B4SI) framework
  • Foster responsibility mindset among our employees and stakeholders
  • Develop MCU as a holistic grassroots development program from engagement with local community and educational institution to graduation and employment
  • Ensure effective workforce learning & development program
  • Continually develop and promote homegrown talents and leaders
VALUE CHAIN

Minor realizes that the ability to strengthen the relationships with key stakeholders in our value chain is vital to the growth and continuity of our business. Minor aims to uplift upstream value chain to ensure sustainable product and service supply and reinforce sustainable sourcing. The company is committed to ensure quality and safe products and services are delivered to customers with options to promote their health and wellness. We also continue to enhance relationships with customers through multiple engagement channels including loyalty programs.

Sustainability Goals:

  • 100% of Thailand and Australia local critical suppliers assessed on sustainability risk by 2023(1)
  • 100% of identified high-risk suppliers audited and developed within each year
  • 50 guest loyalty NPS score for Minor Hotels by 2024
  • All Minor Food brands offer at least one new sustainable or healthy menu by 2024

Remarks:
(1) Current scope includes Thailand and Australia’s local critical food and packaging suppliers and Minor Food Thailand’s project management suppliers.

Our Approach:

  • Educate and assess food and packaging and project management suppliers on sustainability: Environment, Occupational Health and Safety, and Human Rights
  • Audit and monitor sustainability performance of identified high-risk suppliers to ensure their compliances and continual improvement
  • Develop Minor’s supply chain teams’ capabilities to become sustainability champions in engaging with upstream suppliers and Minor’s operations
  • Create win-win partnerships internally and externally to optimize resources and/or create innovation and exchange knowledge
  • Continual engagement with customers to create customer empathy and ability to preempt customers’ needs and respond effectively and timely
  • Ensure delivery of quality products and services that enhance customers’ experience and loyalty
  • Innovatively offer sustainable or healthy products and services in order to respond to customers’ increased preferences on sustainable, environmental-friendly, and healthy products and services.
PLANET

Minor has the obligation to minimize impact of our presence to the environment and the surrounding communities through efficiency improvement and 4R approach (Reduce, Reuse, Recycle, Replace). In addition, we advocate biodiversity and natural heritage conservation especially in the areas where we have footprints.

Sustainability Goals(1):

  • 75% Reduction of single-use plastic by 2024 (Baseline 2018)
  • 100% of nature-based hotels have at least one long-term conservation initiative by 2023
  • 50% reduction in organic waste intensity to Landfill for Minor Hotels (Baseline 2021) by 2030

Remarks:
(1) Previous goals of reduction of energy and carbon dioxide have been achieved with the inclusion of NH Hotel Group. No new goals are established in 2021 as a science-based target of the combination of scope 1 and 2 and group-wide water goal will be set up in 2022

Our Approach:

  • Minimize environmental impact
    • Drive our efforts through the “4R” approach: Reduce, Reuse, Recycle natural resources such as water and energy and discharges such as greenhouse gas, and Replace existing materials with more environmental and sustainable alternatives
    • Promote environmental friendly or green initiatives including renewable energy, where applicable
    • Reduce consumption of disposable items by changing employees’ behaviors and adapting operations process
    • Educate customers to be part of environmental advocates
  • Advocate conservation
    • Partner with skilled conservation agencies to create long-term conservation initiatives with focus on elephants, turtles, wildlife and their habitats
    • Establish conservation measurement methodology by integrating Taskforce on Nature Related Financial Disclosures (TNFD) recommendations to ensure positive impact and link to carbon offset

Strategic Enablers

GOVERNANCE

Minor is cognizant that having good governance and conducting business responsibly are critical factors in achieving long-term sustainable growth objectives and creating trust and confidence among our stakeholders. We build a strong platform of good corporate governance and responsible business throughout the organization, from Board of Directors to all levels of employees, and with our relevant stakeholders including business partners, shareholders and vulnerable groups in community. The company respects rights of our stakeholders and have effective grievance mechanism in place where stakeholders can report unpleasant circumstances.

Sustainability Goals:

  • Minor International maintains annual “Excellent” CG scoring from Thai Institute of Directors Association (IOD) Corporate Governance Report of Thai Listed Companies.
  • 100% of employees trained on anti-corruption and Company Code of Conduct each year.

Our Approach:

  • Ensure good corporate governance structure from Board of Directors level to operations
  • Enhance good corporate governance throughout the organization and with relevant stakeholders by implementing team member and business partner code of conducts, human rights due diligence, effective risk management and internal audit, as well as strong cybersecurity and data protection
  • Ensure understanding and acknowledgement among employees and related stakeholders by providing relevant trainings
SHARED VALUE

Minor realizes that the competitiveness of the company and the quality of its relevant communities and environment are mutually dependent. We believe that building the culture to embed “Shared Value Creation” into our practices by recognizing the connection between company’s economic progress and socio-environmental impacts gives Minor the power to create sustainable future for both the business and the society.

Our Approach:

  • Educate: Provide sustainability related trainings to employees and share best-practices that benefit both company and socio-environment
  • Embed: Convert knowledge from education into practices, continually measure and improve shared value processes and outcomes, and enhance sustainability in different business units by benchmarking with national and international peers
  • Enhance: Share and expand success stories and practices to other business units via Minor’s sustainability awards and recognition