Corporate Social Responsibility
CORPORATE SOCIAL RESPONSIBILITY
The objective and focus of this policy is to set high standards for sustainable economic growth and development in the private sector in Bangladesh particularly the fertilizer industry i.e. preservation of environment, occupational health & safety, respect for human rights, empowerment and community life. These policy themes are vital in achieving success which depends on availability of natural gas, strength of relationships with key stakeholders and managing operations responsibly & efficiently in an increasingly complex environment.
KAFCO believes social responsibility efforts are embodied in consistent application of its core values which outlines its commitment to conduct business in a socially responsible and ethical manner, support universal human rights, protect environment, maximize positive impact of its business on community, respect culture in which it operates and integrate social, environmental and economic considerations in its decision making process and actions. At KAFCO, Corporate Social Responsibility encompasses the following elements:
1. BUSINESS ETHICS & TRANSPARANCY
KAFCO shall do business in ways that are transparent, ethical, demonstrate high personal integrity and respect for rights of individuals. It undertakes to:
1.1 respect rule of law. Make commitments that can be honored. Desist in consciously misleading and involving in unacceptable practices.
1.2 contribute towards social causes, economic growth and preservation of environment
1.2 provide quality products that are safe for their intended use.
1.3 endeavor to provide stakeholders with accurate and timely information to facilitate understanding and support for company business as also for the development of private sector in the country.
1.4 discourage and work against all forms of corruption including extortion and bribery etc.
KAFCO shall work towards prevention of harm to the environment and continued improvement of environment preservation. The guidelines given below shall help in the discharge of its responsibilities.
2.1 satisfy legal requirements, national or international relevant to company business, to mitigate any adverse impact on environment. All employees shall consider environment matters to be critical and integral to their respective functions.
2.2 promote good environment practices when sourcing products & services.
2.3 conserve energy & water, promote & encourage recycling and other waste recovery initiatives.
2.4 undertake initiatives to promote greater environmental responsibility. Monitor emissions/effluents to ensure compliance to country standards. Encourage development and diffusion of environmentally friendly technologies.
2.5 encourage compliance with environmental rules & regulations. Assess impact on environment of all new businesses, products and projects.
3. HEALTH & SAFETY
KAFCO recognizes the crucial importance of health & safety issues and therefore, undertakes to:
3.1 satisfy legal requirements, national or international relevant to company business. All employees shall consider health & safety matters to be critical and integral to their respective functions.
3.2 provide a healthy, safe and secure working environment.
3.3 encourage and involve employees on health and safety matters that affect their work.
3.4 adopt systematic approach to health and safety in order to achieve continuous improvement in performance.
4. EMPLOYEE RELATIONS & WORKPLACE PRACTICES
KAFCO observes following principles in obtaining a congenial work environment that fosters professional harmony, excellence and competencies.
4.1 be an equal opportunity employer. Eliminate discrimination in respect of employment and occupation.
4.2 establish fair labor practices and respect for all workers & staff. Uphold freedom of association and recognize the right to collective bargaining. Eliminate all forms of forced and child labor.
4.3 use human resource with skills & experience matched against those required for the work to be performed.
4.4 support and respect for internationally proclaimed human rights. Make sure not to be complicit in human rights abuses.
4.5 rely on total commitment of all employees.
4.6 maintain fair and competitive terms & conditions of employment. Provide opportunities for training and development.
5. COMMUNITY RELATIONS
KAFCO supports empowerment which entails providing people with training, education and opportunities to allow help themselves. This would help improve economic environment of the community through creation of wealth & jobs, business opportunities and philanthropy. It therefore, is obliged to:
5.1 promote social values and humanitarian causes.
5.2 promote and patronize actions/activities toward the cause of education, health, civic amenities, poverty alleviation, environment preservation and social justice.
5.3 support arts, culture, sports and institutions (schools, universities, think tanks, research and cultural institutions) that enrich public and community life.
5.4 support and/or sponsor seminars, conferences, symposia on matters relating to national interest, social issues, culture and well being of the community.
The management has constituted a Corporate Social Responsibility Team (CSRT). This team, on an annual basis, develops a CSR Action Plan along with budgetary requirements for the review of the management and final approval of the board. The responsibility for ensuring compliance with CSR Action Plan rests with the management and Board of Directors. The Board of Directors annually reviews company situation in respect of continued compliance with CSR principles and the review includes a report on progress of the Action Plan.