Message from Chairman of the Board of Directors
Central Retail is the country’s leading retailer for more than 73 years. We are committed to becoming a role model for sustainable retail and service businesses from internally to externally under 3 major concepts - focus on long-term results, give priority to public interest over self-interest, and determine to embody quality over quantity. The heart of business from now on is creating shared values (CSV) with all stakeholders to achieve sustainable growth by adhering to environmental, social, and governance (ESG) central factors in driving our business.
Our scope of operations has been clearly determined according to the 17 Sustainable Development Goals of the United Nations (SDGs) with emphasis on 4 major aspects that can lead to lifestyle and well-being changes of the people and the community, namely 1) PEOPLE 2) PROSPERITY 3) PLANET 4) PEACE & PARTNERSHIPS. With an aim to be the top retailer in parallel with robust growth and people in the long run, Central Retail has promoted an integration between sustainability and business process throughout 2020 and further in 2021 by dividing into different projects in a concrete manner according to the principles of Environment, Social and Governance (ESG).
The key projects included the use of resources and business knowledge and expertise which are built upon to create mutual value and benefits for the community by emphasizing the development of well-being of the community and persons with disabilities, the educational support, and the income generation for the community, e.g. the partnership school project conducted with the Vocational Education Institution to produce studentswhose qualifications respond to the market needs, the promotion of occupations for the persons with disabilities to expand equal opportunities to everyone byestablishing the Contact Center with the Redemptorist Foundation for People with Disabilities to develop the persons with disabilities. Moreover, Central Retail conducted the income generation project for the community through the development of local products and supported funds for the farmers and villagers, from the origin to the destination in a sustainable manner, e.g. the Farmer’s Market project that offered sales areas for community products inside Central Group’s department stores, the Say No to Plastic Bags project as well as the community arts and cultural promotion project such as the improvement of the Na Muen Sri Community’s Textile Museum in Trang Province, which has become a conservative tourist attraction to attract the number of tourists and develop the community’s economy. In addition, amid the COVID-19 crisis, Central Retail cooperated and strictly performed according to the government’s public health policy by keeping cleanliness, safety, and occupational health of employees and customers at the heart of its operations as well as maintained employment of more than 19 million labors, especially, in retail and service sectors.
Meanwhile, we laid a sustainable business foundation by ensuring the most efficient supply chain management, monitored suppliers to comply with relevant rules and regulations and supported supply chain operations to be accountable and transparent, and recognized customer satisfaction and pleasant customer experience as well as the development of innovation and technology facilitating various activities. Central Retail is determined to operate business with good corporate governance. In 2020, the Company elevated its corporate governance system in different areas to ensure more consistency with the international principles, for example,the appointment of the sub-committee, e.g. the Corporate Governance and Sustainability Committee, to develop corporate governance and sustainable operations, the establishment of a Compliance Unit to oversee personnel and internal units of the Company to ensure their compliance with relevant rules and regulations and consistency with the principles of good corporate governance. The Board of Directors also resolved to approve that the Company shall start carrying out operations to join Thailand’s Private Sector Collective Action Coalition Against Corruption (CAC) by assigning the Audit Committee to be responsible for such matter. It is expected that the Company will be able to declare an intent to join the project in 2021.
From now on, Central Retail will continue to provide assistance to the society, uplift the quality of the environment, and increase management efficiency by focusing on sustainable corporate governance principles as well as build upon on more results both in terms of quantity and quality continuously.