Minor Sustainability Strategy
At Minor, we develop Sustainability Strategy which is endorsed by the Board of Directors at our annual strategic planning meeting. 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 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 Strategy and 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
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: youth and disadvantaged community members, Workforce and Talents & Leaders. The company also provides safe & healthy working conditions and promote employees’ well-being
- 1 million people empowered and supported by 2023
- 50% of Minor Corporate University (MCU) program graduates return to work with our organization by 2023
- 50% internal promotion of management levels by 2023
- Support local and disadvantaged community members, as good corporate citizenship, through community investment, charitable, and commercial initiatives in alignment with Business for Societal Impact (B4SI) framework
- Enhance children and youths’ learning capability through Minor’s school programs
- Develop MCU into a holistic grassroots development program from engagement with local community to employment
- Ensure effective workforce learning & development program
- Continually develop and promote homegrown talents and leaders
- Foster responsibility mindset among our employees and stakeholders
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 and stringent privacy protection.
- 100% of Thailand and Australia local critical and high-impact food & packaging suppliers assessed on sustainability risk
- 100% of identified high-risk suppliers audited and developed within each year
- Increase Guest Loyalty NPS score for Minor Hotels to 50 by 2024
- By 2024, each Minor Food brand offers at least one new healthy menu each year
- Educate and assess food and packaging suppliers on sustainability: Environment, Occupational Health and Safety, and Human Rights
- Audit and monitor sustainability performance of identified high-risk suppliers to ensure their continual improvement
- Develop Minor’s supply chain teams’ capabilities to become sustainability champions in engaging with suppliers, farmers and operations
- Create win-win partnership 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
- Offer healthy and sustainable products and services
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.
- 20% reduction in energy intensity for Minor Hotels by 2023 (Baseline 2016)
- 20% reduction in carbon dioxide emission intensity for Minor Hotels by 2023 (Baseline 2016)
- 20% reduction in water intensity for Minor Hotels by 2023 (Baseline 2016)
- 100% of nature-based hotels have at least one long-term conservation initiative by 2023
- 75% Reduction of single-use plastic by 2024 (Baseline 2018) for Thailand
- 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 behaviors and operations
- 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 to ensure positive impact
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.
- 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.
- 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 employee and business partner code of conduct, human rights due diligence, effective risk management and ensure understanding and acknowledgement by providing relevant trainings
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.
- Educate: Provide sustainability related trainings, best-practice sharing to employees and connect selected champions to internal & external experts
- Embed: Convert knowledge from education into practices, continually measure and improve shared value processes and outcomes and enhance sustainability in different business functions by benchmarking with international peers
- Enhance: Share success stories, expand successful practices to other business functions, encourage sustainability practices with awards and recognition through transparent performance and GRI-standard disclosures