Sustainability Reporting

Customers

As a company, we naturally meet the needs of customers, but we seek to do this without compromising the ability of future generations to meet their needs.

  • Financial Capital
    • Customer Capital
    • Human Capital
    • Business Partner Capital
    • Institutional Integrity Capital
    • Community Capital
    • Environment Capital

Our purpose in Sustainability Reporting is to place before all stakeholders a comprehensive account of the economic, social and environmental impacts that are generated by the Company’s activities.

We have endeavored to report in as fair and transparent manner as possible, presenting both negative and positive aspects without bias, as we believe it to be imperative that stakeholders have access to comprehensive details to aid informed opinion and choice.

Diesel & Motor Engineering PLC (DIMO) continuously strives for excellence in every aspect of business we are involved in by stressing the importance of sustainability in all our operations. In-conjunction, our organization has continued to strengthen the efforts of our corporate governance and increase transparency that is in-line with global business and financial practices.

Therefore, our intention of adopting the International Financial Reporting Standards (IFRS) voluntarily, builds on the progress we have made over the years towards our goal of one day producing a truly Integrated Annual Report.

Integrated Reporting

International Integrated Reporting Committee (IIRC), consisting of the foremost accounting bodies in the world, has taken the initiative of running a pilot program for Integrated Reporting. This is done with the ultimate objective of integrating financial reporting and sustainability reporting.

Integrated Reporting will provide an important step for organizations facing the challenges of the 21st century.

Current reporting standards such as International Financial Reporting Standards (IFRS) require organizations to produce a fair and reasonable account of their business in audited financial reports.

Often, these reports do not fully consider the social, environmental and long-term economic context within which the business operates. Some companies produce ‘Sustainability’ or ‘Environmental, Social and Governance’ (ESG) reports which consider these factors. However, these reports do not necessarily connect the risks and opportunities with the business strategy and model.

DIMO’s introduction of Integrated Reporting will help to bring together data that is relevant to the performance and impact of the company in a way that will create a more profound and comprehensive picture of the risks and opportunities we face, specifically in the context of the drive towards a more sustainable global economy.

Global Reporting Initiative

The Global Reporting Initiative (GRI) is a non-profit organization that promotes economic, environmental and social sustainability.

GRI provides all companies and organizations with a comprehensive sustainability reporting framework that is widely used around the world. As of 2006, we have adopted the GRI guidelines into our annual report for our Sustainability Reporting. Our latest Annual Report has been aligned with Global Reporting Initiative (GRI) G3 Sustainability Guidelines, at a self-declared application level of A+.

GRI has pioneered and developed a comprehensive Sustainability Reporting Framework that is widely used around the world. The Framework enables all organizations to measure and report their economic, environmental, social and governance performance – the four key areas of sustainability.

The Reporting Framework – which includes the Reporting Guidelines, Sector Guidelines and other resources – enables greater organizational transparency about economic, environmental, social and governance performance. This transparency and accountability builds stakeholders’ trust in organizations, and can lead to many other benefits. Thousands of organizations, of all sizes and sectors, use GRI’s Framework in order to understand and communicate their sustainability performance.

GRI Application Level Check

UN Global Compact

The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with TEN UNIVERSALLY ACCEPTED PRINCIPLES in areas such as human rights, labour, environment and anti-corruption.

By doing so, business, as a primary driver of globalization, can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere. With over 8700 corporate participants and other stakeholders from over 130 countries, it is the largest voluntary corporate responsibility initiative in the world. As of March 2012, DIMO have signed onto the UN Global Compact initiative.

DIMO has therefore committed to support the Ten Principles of the Global Compact with respect to Human Rights, Labor, Environment, and Anti-corruption.

We are committed to making the Global Compact and its principles part of the strategy, culture and day-to-day operations of our company and to engage in collaborative projects which advances the broader development goals of the United Nations, particularly the Millennium Development Goals.

Global Reporting Initiative

Management Approach

Management Approach – Quality and Environment Policy

We at DIMO are committed to

  • Continuously improving our systems and processes
  • Total customer satisfaction
  • Develop human resources
  • Conservation of resources
  • Reducing waste
  • Compliance with legal, statutory and principals’ requirements.

We employ an integrated approach towards quality and environmental management at every stage of our business processes. Group Management Committee and the Sustainability Committee ensure that Group guidelines and policies are adhered to and practised.

In addition, senior management staff have specific responsibility for managing environmental as well as occupational health and safety issues related to their respective business units.

Our systems and processes are continuously reviewed, and revised as appropriate. Significant risk factors are identified and managed closely. The Environmental Management System (EMS) enables us to measure and monitor the impact of our operations on the environment, which in turn leads to suitable mitigation measures being put in place.

Our EMS is guided by the Triple R concept:

  • Reduce
  • Reuse
  • Recycle

DIMO obtained the ISO 14001 certification in 2005. Our Environmental Management System is accredited with ISO 14001 (2004), which is a leading global standard for managing environmental issues.

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