SIPEF Integrated Annual Report 2022
SIPEF Integrated Annual Report 2022 | 1 |
Contents
Chapter I | About this report | . . . . . . . . | . . . . . . 2 | |
Significant events in 2022 | . . . . . . . . . | . . . . . . . .4 . . . . | ||
Message from the chairman | . . . . . . . . . . | . . . . . . .7 | ||
Message from the managing director | . . . . . . . . . . . | . . . . . . . . . 9 | ||
SIPEF at a glance | . . . . . . | . . . . . . . .12 | ||
Mission | . . . . . | . . . . . | . . 14 | |
Company strategy | . . . . . . . | . . . . . . . 15. . . . | ||
An integrated sustainability approach | . . . . . . . . .16 . . . . | |||
Sustainability targets and achievements | . . . . . . . . . . 20. . . . | |||
Business model | . . . . . . | . . . . . . . 26 | ||
Operational activities | . . . . . . . . | . . . . . . 35 | ||
Events after the balance sheet date . . | . . . . . . . . . . . | . . . . . . . 52 | ||
Corporate governance statement . . . . | . . . . . . . . . . . | . . . . . . . .53 | ||
SIPEF on the stock market | . . . . . . . . . | . . . . . . .100. . . . | ||
chapter ii | Balanced growth approach | . . . . . . . . . . . . . . . . 102 | ||
chapter iii | Respecting employees | . . . . . . . | . . . . . . . .114. . . . | |
chapter iv | Environmentally responsible production . . . . | . . . . . . . . . .125. . . . | ||
chapter v | Responsible supply chain management | . . . . . . . . . . . . . | ||
chapter vi | Socially responsible operations . . . | . . . . . . . . | . . . . . . . 154. . . . | |
chapter vii | Financial statements | . . . . . . . . . | . . . . . .158 | |
annexes | Annex 1 - Materiality Assessment 2022 | . . . . . . . . .222 | ||
Annex 2 - United Nations Sustainable Development Goals | . . .226. . | |||
Annex 3 - Accounting policies | . . . . . . . . . . | . . . . . .234 | ||
Annex 4 - Stakeholder Engagement Table | . . . . . . . . . .236 | |||
Annex 5 - Base Data | . . . . . . . | . . . . . .240 | ||
Other information about the Company | . . . . . . . 260 | |||
Glossary | . . . . | . . . . . . .263 | ||
Responsible persons | . . . . . . . . | . . . . . .267 | ||
For further information | . . . . . . . | . . . . . | . . 268 |
2 | The connection to the world of sustainable tropical agriculture |
About this report
Integrated Annual Report 2022
The 2022 annual report is the first integrated annual report of SIPEF highlighting the Group's financial, environmental, social, and governance performance.
Since 2014, SIPEF has issued a sustainability report every two years.. Since 2019, these reports have been issued annually.. In 2019, the sustainability report was part of SIPEF's annual report, which was made up of three parts: a Company Report (part 1), a Financial Statement (part 2), and a Sustainability Report (part 3).. This was an essential step to realising an integrated annual report..
Report scope
This report covers information and data on the Group's financial and non-financial performance for the financial year 1 January to 31 December 2022, and on the events after closing up until 18 April 2023. The report's scope includes all the material operational and management activities within the Group: oil palm in Indonesia and Papua New Guinea, and bananas in Ivory Coast.
The SIPEF annual reports are available on the website:
- www..sipef..com/hq/investors/annual-reports/
The SIPEF sustainability reports are available on the website:
- www..sipef..com/hq/sustainability/sustainability-reports/
SIPEF Integrated Annual Report 2022 | 3 |
Report framework and content
This 2022 integrated report was produced taking into account the international framework on integrated reporting (IR framework).
- www.integratedreporting.org/wp-content/uploads/2022/08/ IntegratedReportingFramework_081922.pdf
The 2022 integrated report aims to provide insight into the resources SIPEF uses to assure its value creation in the short, medium, and long term. These resources are highlighted in SIPEF's mission and strategic objectives (see Mission and Company strategy).
Within the framework, these resources are collectively referred to as values ('capitals') that are increased, decreased, or transformed through the activities and outputs of the Company. They are categorised in the framework as financial, man- ufactured, intellectual, human, social, and natural values. This categorisation helps to clarify the relevance of both financial and non-financial aspects of the value creation for all stakeholders.The 2022 integrated report was drafted respecting the 2019 Belgian Companies Code and the 2020 Belgian Code on Corporate Governance. The report has also been prepared taking into account the world's most widely used sustainability reporting standards, the Global Reporting Initiative (GRI) Standards.
SIPEF has not yet called upon third parties to assure the non-financial content of this report. However, the non-financial information regarding the environment and social performance of the Group is largely reviewed through certifications such as the 'Roundtable on Sustainable Palm Oil' (RSPO) and the 'Rainforest Alliance'. The Group is working towards assurance of its non-financial data.
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Disclaimer
Sipef NV published this content on 14 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2023 00:05:09 UTC.
