Our commitment to good governance
We are committed to the principles of good corporate governance which emphasize transparency, accountability and independence, and believe this enhances shareholder value.
Our Board of Directors and management team are committed to principles of good corporate governance which are consistent with prudent management and enhancement of shareholder value. These principles emphasize transparency, accountability and independence.
As part of our approach to risk management, we maintain a sound and effective system of risk management and internal controls to support us in achieving high standards of corporate governance. For more information, download the ‘Our commitment to good governance’ section of our Annual Report.
Since 2002, the Fung Group has been a signatory to the United Nations’ Global Compact (UNGC), the world’s largest corporate sustainability initiative. Each year we disclose our progress in implementing actions to support the UNGC’s 10 Principles related to human and labor rights, the environment and anti-corruption. Through the UNGC, the Fung Group works alongside 8,346 companies in 161 countries to create a sustainable and inclusive global economy that delivers lasting benefits to all people, communities and markets.
We are a constituent of the FTSE4Good Index Series, a leading global sustainability index and in Hong Kong, we are a constituent member of the Hang Seng Corporate Sustainability Index Series.
Sustainability is integral to our business and our planning process.
With operations spanning more than 250 offices and distribution centers in over 40 markets, addressing sustainability requires us to responsibly manage our environmental, social and governance performance, as well as work with our customers, suppliers and industry partners to further the sustainability of supply chains and communities across our global network. Health, safety and wellbeing, climate change, resource scarcity and increasing demands for transparency and accountability are all important issues driving change in how we do business and engage with our stakeholders.
These issues pose risks, challenges and opportunities that we address through our Sustainability Strategy and day-to-day activities.
Respect for human rights is at the core of our beliefs and embedded in the way we do business.
At Li & Fung our values and principles foster a respect for human rights. We are committed to maintaining a respectful workplace free from discrimination and harassment of any form and to providing equal opportunities for all our people in support of the International Labour Organization’s (ILO) declarations on human and labor rights. We affirm these commitments in our Code of Conduct and Business Ethics.
We expect our suppliers to share our commitment to create better working conditions that uphold fundamental human and labor rights. This includes compliance with relevant local laws and regulations and meeting the obligations outlined in our Supplier Code of Conduct, which is based on the ILO’s core conventions. We also support our customers to meet the requirements of the California Transparency in Supply Chains Act, and the UK Slavery Act, which came into effect in 2015 for our UK-based customers.
Our reputation is built on the actions of our people and we believe our success is built on our common vision of shared values and commitment to consistent and high standards, which are outlined in our codes of conduct.
For more information, download our latest Annual Report.