Our Value Creation Strategy
Sustainability has always been an integral part of QL’s business operations. In our efforts to create shared value for all, we are cognizant of our role, responsibility and duty to conduct business ethically and uphold good corporate governance, operate in a socially and environmentally responsible manner and adhere to sustainable practices.
Our Value Creation Model
Sustainability Governance
QL’s Board of Directors (the “Board”) plays an active role in setting the sustainability direction for the Group. A Sustainability Steering Committee (“SSC”), chaired by QL’s Group Managing Director and comprises Head of Business Units and Business Functions supports the Board in steering the Group’s sustainability efforts. The SSC is assisted by the Sustainability Reporting Working Group (“SRW”) to guide and monitor QL’s sustainability performance across businesses. In addition, the business units have established their own governance structures with working Groups to lead the implementation of sustainability initiatives within their businesses.
Materiality Assessment
A materiality assessment is vital to the identification and prioritisation of sustainability matters that can affect QL’s business and stakeholders. In FY2021, we conducted a materiality assessment to review the relevance of our material matters by engaging with both internal and external stakeholders. We sought their views in relation to the ESG topics that were important to QL. The approach used in materiality assessment is reflected in the diagram below:
A total of 17 material matters and 12 priorities were concluded through the assessment.
Based on engagement with our stakeholders in FY2023, the identified material matters remain relevant. The material matters will be revisited in coming year to ensure that they are up to date with developments and changes in the business and ESG landscapes.
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