In a defining moment for Sri Lanka’s iconic diversified conglomerate, Hayleys commenced 2022 with the unveiling of ‘Lifecode’, an ambitious new framework that integrates Environment, Social and Governance related targets and goals into business strategy across each of its 16 business sectors.
Distilled into a single document, the Hayleys Lifecode sets out a holistic framework for driving a Group-wide call to action, anchored to United Nations Sustainable Development Goals (UNSDGs) – marking an unprecedented level of linkage between ESG targets and value creation systems. The Hayleys Lifecode includes detailed disclosures on the conglomerate’s approach to managing ESG topics, its long-term roadmap, ESG governance and risk management.
“We recognise the need to drive powerful and uncompromised ESG standards in our everyday decision making to strengthen our business strategies and risk resilience for long-term value creation. The Hayleys Lifecode is a systematic, policy-driven blueprint to address the ESG goals critical to our business and society – and encapsulates the condensed wisdom we have used to steer the Group throughout the years,” Hayleys PLC Chairman and Chief Executive, Mohan Pandithage said.
“This launch comes at a time when the strength, value, and the innovative spirit of our entire organisation has been tested and proved. It is now up to us to take the next step in defining our roadmap towards resolving sustainability issues, creating greater value and shaping a better future,” he also said.
“The Hayleys Lifecode was born with the intent of embedding and harmonising ESG considerations into strategic decision-making across the Group. Our Lifecode champions have been empowered to drive targets and goals defined in this document. They will support us in monitoring, measuring and managing emerging ESG risks and topics as we learn, reorient and evolve our efforts to keep our progress and outcomes relevant,” Hayleys Group Sustainability Head and Group Chief Financial Officer, Choliya De Silva said.
Environmental benchmarks span goals on climate action, sustainable production and consumption, and biodiversity, including an emphasis on sustainable innovations, the potential for high circularity, and less waste. Social value creation targets are focused on community and education, the livelihoods of its smallholders and small-scale suppliers, economic growth, and decent work. Under Governance, the diversified conglomerate continues its focus on sustaining a culture of the highest integrity, transparency and ethical governance standards.
Notably, Hayleys has been a signatory to the UN Global Compact from 2007, adopting Global Reporting Initiative Guidelines in 2012 and adopting the first Code of Best Practice on Corporate Governance from 2009, in addition to being the only corporate recognised as the nation’s Best Corporate Citizen on five occasions.
A centrepiece of the Sri Lankan economy, the Hayleys Group maintains a global presence across five regions with business interests spanning 16 diverse sectors. Accounting for USD 600 million of the country’s foreign earnings and 4.2% of the nation’s total export income, Hayleys is a champion of sustainable innovation and represents one of Sri Lanka’s most prominent success stories.