1. In March 2021, Top Glove conducted a formal and comprehensive materiality assessment to identify critical ESG issues which drive our long term value creation and have a significant impact on the Company's business performance.
2. The assessment was led by the Sustainability Steering Group and undertaken by an independent third party to ensure objectivity and complete confidentiality.
3. A holistic approach was adopted in conducting the assessment, towards ensuring that issues identified were material to the Company's performance, thereby enabling us to effectively prioritise and allocate resources to address the issues.
1. Product Quality & Safety
As the world largest manufacturer of gloves, it is important for us to ensure that the gloves we produce serve their purpose to safeguard health and safety of the users, especially in medical and food & beverage industry. The quality and safety of our products, of which majority are gloves, significantly affect our revenue and if not managed well, can lead to reputational risksand compliance risks which have a direct impact on our financial performance.
Strategies & targets:
1. Continuous research & development (R&D) to improve the quality of our gloves to meet customers’ demands.
2. Hold frequent engagements with customers to better understand their changing needs and expectations.
3. Set yearly targets in this area such as reduction of customer complaints. Some of the targets are categorised as Group KPIs which are also applicable to the Executives.
The right to a healthy and safe workplace is recognised as human right, as addressed in various authoritative international instruments. We place a high priority of our employees’ health and safety, and take seriously our responsibility to ensure our employees, who are the backbone of our business and key factor in our success, work within a healthy and safe environment. Effective management of occupational health & safety is crucial, leading to reduced health and safety incidents/accidents, compliance and reputational risks, as well as associated costs.
Strategies & targets:
1. Guided by the Group Occupational Safety & Health Policy in our business operations.
2. Ensure compliance with our safety and health practices according to the international guidelines issued by Business Social Compliance Initiative (BSCI) and Sedex Member Ethical Trade Audit (SMETA).
3. Regular internal and external audits to ensure effectiveness.
4. Implementation of the Zero Harm & Safety Health Emergency Preparedness Programme in our factories, in which we have designated first aid corner equipped with cardiac emergency, stabiliser etc.
5. Occupational Health & Safety Management System (ISO 45001) certification for our factories.
6. Continuous training and awareness among employees is also one of the approaches in addressing this material issue.
7. Set yearly target in reduction in accident rate, which is also applicable to the Executives’ KPI.
It is crucial to have effective communication between employers and employees to achieve a win-win partnership. At Top Glove, employees are encouraged to voice out their views and opinions and we see this as an important area to enable the Company to improve. By listening to our employees, we understand their needs and expectations, and are able attend to the issues raised, thereby leading to increased employee satisfaction, loyalty and ultimately, better productivity. This helps to reduce risks such as reputational and operation risk, both of which have a direct impact on financial performance. Better labour management relations also helps to reduce turnover rate, which it contributes to recruitment cost saving.
1. Multiple grievance mechanisms and independently managed whistleblowing channels in place for our employees, especially our workers.
2. Awareness & training on grievance mechanism.
3. Workers Representative Committee, whereby every factory will have a worker representative from each nationality and gender, towards regular dialogues with HR representative to raise any issues.
4. Quarterly meeting between worker representatives and the Independent Directors to discuss workplace/ wellbeing related issues.