The Yoma Group’s sustainability strategy is centred on building capacity and giving back to the communities in which it operates. The Yoma Group is committed to creating long-term economic value and growth for its stakeholders. This is achieved through the management of its operations and projects in a way that ensures commercial viability without compromising the environment in the longer term. The Yoma Group’s role in shaping the long-term viability of its strategy includes providing guidance on matters relating to stakeholders and incorporating sustainable practices into its business operations. The Yoma Group’s sustainability strategy targets the 3Ps — People, Planet and Profit.
The United Nations (“UN”) Global Compact was initiated in 2000 by Secretary-General Kofi Annan to promote global corporate responsibility with 10 guiding principles. FMI has acceded to the UN Global Compact since November 2012 and is committed to running the company based on its framework of sustainable, transparent and responsible business practices. The Company is also communicating transparently on its responsible business activities in accordance with the 10 principles relating to human rights, labour rights, environment and anti-corruption. This is a significant change from the traditional ‘CSR’ communication of FMI featuring photographs of philanthropy.
FMI recognises the value of aligning with the international standards for responsible business and the 10 Principles of the UN Global Compact. It believes and subscribes to continually improve the integration of the UN Global Compact and its principles into business strategy, culture and daily operations.
The Yoma Group has designated Daw Po Po Minn as its Sustainability Manager to create strategy and outline approach to ensure the Company’s business goals and value chain are aligned with its sustainability goals. As a sustainability manager, she is mainly responsible to communicate groupwide sustainability initiatives to internal and external stakeholders, and to educate and inform them practices the Group’s businesses shall adopt to alleviate negative impact the Group may have on the environment it operates in. While being responsible to ensure adherence to relevant laws and regulations, she also keeps track of the Group’s Sustainability KPIs, provides training on sustainability topics, and ensures that the Group sets and meets its environmental goals, with an emphasis on the proper use of available resources and sustain these resources for future generations.