Sustainability & Responsibility Strategy
Putting the principles of sustainability and responsibility into practice means accounting for our most material social and environmental impacts in every aspect of what we do – from sourcing the raw materials we use to make our brands, to running our manufacturing safely and efficiently, to influencing how our brands should be served in a bar or restaurant.
Our strategy covers five key social and environmental impacts across all channels in our value chain. Within each broad impact area, there are many specific programmes prioritised by their ability to address stakeholder needs and business ambitions. For a list of these programmes, please see the section outlining activities across our value chain.
Our strategic framework: Celebrating life, today and tomorrow
The success of our strategy relies on our ability to create ‘shared value’, by which we mean bringing benefits both to the stakeholders who are affected by our operations, and to our company. When launching programmes, we consider the extent to which they create this double-sided return.
Localising our strategy
Our global Sustainability & Responsibility strategy framework highlights those impacts and programmes that are relevant to the majority of our markets.
However, it has been important for us to recognise that there is no one-size-fits-all strategy relevant to all local markets since our business, and the social and environmental context within which we operate, vary around the world. Our impacts as a manufacturer in one area will be different from our impacts as an importer in another. Similarly, the needs of our stakeholders and broader communities vary across our markets. While our markets are guided by our global strategy, it has been important to keep local flexibility in their implementation. Read more about our strategic focus by region.
This approach is aligned with last year’s restructuring of the business, which shifted more commercial and operational control to local markets. Moreover, the restructuring resulted in a new model of 21 business units, with greater focus on and investment in emerging economies. For example, this has meant acquiring businesses in Ethiopia, Brazil, Turkey and Vietnam where we are now manufacturers of local brands.
Given these changes, we have begun to reassess our local approaches to sustainability and responsibility through a series of strategy workshops, starting in some of our largest markets in each region. These aim to identify our material economic, social and environmental impacts – considering local stakeholders’ interests and needs as well as factors relating to the success of our business. We recognise that as our business continues to grow, we must include any new markets in this approach. Read more about our progress on determining material impacts.