Governance and Ethics
We strive to act responsibly across a wide range of social and environmental issues because our customers, shareholders, and employees expect no less, and we expect no less of ourselves.
To demonstrate this commitment, we have elevated CSR oversight to the Board committee level – an approach we believe to be an industry first. The Nominating, Governance, and Social Responsibility Committee has wide-ranging oversight duties, including of environmental and social impacts, risks, and opportunities. Its oversight areas range from ethical conduct and transparency to environmental sustainability and climate change, ethical sourcing, public policy matters, responsible marketing practices, philanthropy, and our obligations to the communities in which we operate.
In 2013, human rights and climate change were added to the Committee’s charter, reflecting the growing importance of these issues for our industry and global economies in general.
Embedding CSR Across Our Organization
Under the Committee’s direction, and with the strong leadership of our CEO and support of our senior management team, CSR is being increasingly embedded throughout the company.
Our CEO chairs an internal executive CSR Committee, comprised of the CSR team and senior management that sets strategic direction for CSR policies and initiatives, and ensures their integration throughout the entire corporation. Our Chief Development Officer, a CSR Committee member, oversees climate change and environmental sustainability issues across our global operations, including supply chain, and for our products and packaging.
Our corporate CSR team, headed by the Senior Vice President of Global Government Affairs and Corporate Social Responsibility, has strategy and functional responsibility for CSR strategy and public reporting, human rights and ethical sourcing, environment, health, and safety, government and regulatory affairs. In addition, the team works closely with internal organizations including quality assurance and product design and development. Together, they develop and implement programs, partnerships, and initiatives, setting up inter-departmental working groups to explore and advise on key topics such as human rights where needed. Monthly, the Senior Vice President reports to the CEO on a variety of regulatory, government, and corporate affairs issues. At least once a year, the CSR team reports to the CSR Committee on progress and changes that may lie ahead, and the SVP briefs the Board committee.
In addition, the Board committee regularly briefs the full Board of Directors on any significant ethical, social, and environmental issues. We assess social and environmental risks facing the company as part of our general enterprise risk management process.
On the Record
We publish a bi-annual CSR report as well as regular updates to communicate with stakeholders and the wider public about our efforts, challenges, and achievements in this area. We strive to make these as transparent, comprehensive, and material to our business as possible. Our full CSR reports are reviewed by the CSR Committee and senior management including the CEO, Chief Financial Officer, and Chief Legal Officer.