ESG is an important concept for sustainable business development today. It emphasizes environmental, social, and corporate governance issues as a framework for conducting business operations. This approach not only helps reduce impacts on society and the environment but also creates new opportunities and enhances business capabilities.
In 2023, the company has transitioned its business toward a Sustainable Business Model to ensure its growth is on the right track. Collaborating with socially and environmentally responsible partners is crucial for achieving sustainable business outcomes that benefit all parties. MFEC has therefore communicated its vision and provided ESG training for its business partners, aiming to foster cooperation and jointly implement ESG principles for sustainable business practices.
– Organized training on ESG with the objective of informing suppliers about the company’s vision and values.
– Explained how to implement ESG principles and how the company has improved its business processes to align with ESG.
– Encouraged suppliers to take social and environmental responsibility in the business sector.
– Facilitated information exchange between the company and suppliers to jointly develop and improve business processes.
Ten of MFEC’s business suppliers participated in these programs, marking a good start to collaboration, as these are not just past business partners, but partners developing current cooperation and seeking future opportunities together.
Performance:
1. Raised business awareness about the importance of socially and environmentally responsible business operations. Promoting ESG integration skills and understanding in daily activities allows businesses to improve their processes and products more efficiently.
2. Encouraged businesses to engage in social and local development activities. Promoting responsiveness to market demands along with socially minded business goals increases acceptance of these businesses.
3. Positioned businesses as models for widely adopting socially and environmentally responsible business practices. Businesses with this model build confidence among suppliers and investors seeking efficient and responsible businesses.