Li & Fung believes that a scientific and comprehensive management mechanism is the cornerstone of integrating sustainable development into the Company’s operations and management. Our ESG governance structure allows our ESG activities and emerging issues to be escalated quickly for the Board and management attention and action.
The Risk Management & Sustainability Committee (RMSC) under the Board oversees corporate ESG practices, policies, procedures, strategies, and directions. Chaired by an executive director of the Company, the committee is comprised of members of the Board.
Under the RMSC, we have an ESG Committee which consists of key business leaders and key function heads from human resources, governance, vendor compliance, IT and corporate sustainability. The Committee members are well-equipped with both sustainability and industrial knowledge and a forward-looking mindset to propose insights, directions about embedding ESG and sustainability practices into business strategies.
At regional level, we established an ESG Working Group which facilitates ESG strategy implementation locally. The ESG Working Group is formed by local representatives from business, operations and supporting functions who not only report the periodic environmental, social, supply chain, human resources and governance data, but also share best practices and highlight critical incidents, risks and proposed solutions to the ESG Committee for reporting to RMSC.