Cathay Pacific Archives - SustainCase - Sustainability Magazine Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Fri, 02 Aug 2024 09:53:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Cathay Pacific creates economic value for its stakeholders https://sustaincase.com/case-study-how-cathay-pacific-creates-economic-value-for-its-stakeholders/ Fri, 02 Aug 2024 05:57:42 +0000 https://sustaincase.com/?p=19454 Cathay Pacific together with its subsidiaries had 222 aircraft at the end of 2022 and, immediately prior to the onset of COVID-19, its airlines directly connected Hong Kong to 119 destinations in 35 countries worldwide, including 26 destinations in Chinese mainland. Ongoing engagement and open communication with key stakeholder groups is, for Cathay Pacific, crucial to building collaborative relationships and creating long-term value for all. This case study is based on the 2022 Sustainable Development Report by Cathay Pacific, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate […]

The post Case study: How Cathay Pacific creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Cathay Pacific together with its subsidiaries had 222 aircraft at the end of 2022 and, immediately prior to the onset of COVID-19, its airlines directly connected Hong Kong to 119 destinations in 35 countries worldwide, including 26 destinations in Chinese mainland. Ongoing engagement and open communication with key stakeholder groups is, for Cathay Pacific, crucial to building collaborative relationships and creating long-term value for all.

This case study is based on the 2022 Sustainable Development Report by Cathay Pacific, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

Generating, through its operations, sustainable value for employees, providers of capital and all its stakeholders, is a top priority for Cathay Pacific.  Tweet This! In order to create economic value for its stakeholders Cathay Pacific took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for communities

What are the material issues the company has identified?  

In its 2022 Sustainable Development Report Cathay Pacific identified a range of material issues, such as flight safety and security, business ethics and anti-corruption, privacy and data protection, infectious disease. Among these, creating economic value for its stakeholders stands out as a key material issue for Cathay Pacific.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Cathay Pacific engages with:

Stakeholder Group                Method of engagement
Employees

 

 ·      Surveys

·      Meetings or focus groups

·      Internal communication platforms

·      Employee town halls

·      Meetings with staff unions

·      Employees engagement activities

·      Mobile applications
Customers

 

 ·      Surveys

·      Focus groups

·      Cathay website and social media

·      Hotline and online enquiries

·      Mobile applications
Suppliers and business partners

 

 ·      Surveys

·      Periodic meetings with key suppliers and partners

·      Supplier screening and assessments

·      Partnership programmes

·      Meetings with industry bodies

·      Advisory panels
Investors and regulators

 

 ·      Annual General Meetings

·      Annual and interim reporting

·      Announcements and circulars

·      Investor meetings

·      Press releases

·      Hotline and online enquiries

·      Meetings with government bodies
NGO partners

 

 

 ·      Community events

·      Partnership programmes

·      Multi-stakeholder meetings

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Cathay Pacific engaged with its stakeholders through a survey.

What actions were taken by Cathay Pacific to create economic value for its stakeholders?

In its 2022 Sustainable Development Report Cathay Pacific reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, Cathay Pacific paid HK$ 10,571 million in staff expenses.
  • Creating economic value for providers of capital
  • In 2022, Cathay Pacific paid HK$ 3,074 million to providers of capital.
  • Creating economic value for communities
  • In 2022, Cathay Pacific spent HK$ 6 million in community investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Cathay Pacific, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.cathaypacific.com/content/dam/cx/about-us/sustainability/sustainability-reports/en/Cathay-Pacific_Sustainable-Development-Report-2022_EN.pdf

Note to Cathay Pacific: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Cathay Pacific creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Cathay Pacific promotes sustainable sourcing https://sustaincase.com/case-study-how-cathay-pacific-promotes-sustainable-sourcing/ Fri, 14 Jan 2022 07:11:11 +0000 https://ccprowebs.com/new-sustaincase.com/?p=13196 Cathay Pacific is a world-class international airline registered and based in Hong Kong, directly connecting Hong Kong to 109 destinations in 35 countries worldwide. Sustainable sourcing, waste management and careful consideration of resource usage are the three key pillars underpinning Cathay Pacific’s effort in embedding an environmentally responsible mindset in its culture and sustainable practices in its operations. This case study is based on the 2018 Sustainable Development Report by Cathay Pacific published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting […]

The post Case study: How Cathay Pacific promotes sustainable sourcing appeared first on SustainCase - Sustainability Magazine.

]]> Cathay Pacific is a world-class international airline registered and based in Hong Kong, directly connecting Hong Kong to 109 destinations in 35 countries worldwide. Sustainable sourcing, waste management and careful consideration of resource usage are the three key pillars underpinning Cathay Pacific’s effort in embedding an environmentally responsible mindset in its culture and sustainable practices in its operations.

This case study is based on the 2018 Sustainable Development Report by Cathay Pacific published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

Globally, Cathay Pacific works with over 1,000 suppliers dealing with a vast range of purchases across the destinations it serves. Accordingly, working with its suppliers is key for Cathay Pacific to deliver products and services to its customers in a sustainable fashion  Tweet This!. In order to promote sustainable sourcing Cathay Pacific took action to:

  • implement a Supply Chain Sustainability Code of Conduct
  • source sustainable seafood

What are the material issues the company has identified?

In its 2018 Sustainable Development Report Cathay Pacific identified a range of material issues, such as customer safety, biodiversity, resources and waste management, occupational health and safety, employee welfare. Among these, promoting sustainable sourcing stands out as a key material issue for Cathay Pacific.

Stakeholder engagement in accordance with the GRI Standards                

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Cathay Pacific engages with:

Stakeholder Group
Employees
Customers
NGOs and academia
Investors and shareholders
Suppliers
Other businesses

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Cathay Pacific engaged with its stakeholders through surveys, focus groups, interviews, publications, websites, social media and face to face meetings.

What actions were taken by Cathay Pacific to promote sustainable sourcing?

In its 2018 Sustainable Development Report Cathay Pacific reports that it took the following actions for promoting sustainable sourcing:

  • Implementing a Supply Chain Sustainability Code of Conduct
  • Cathay Pacific’s suppliers are required to declare that their products and services comply with its Supply Chain Sustainability Code of Conduct. The CoC describes Cathay Pacific’s minimum environmental and social requirements including:
    • Legal and regulatory compliance
    • Not employing under-age workers/child labour
    • Not employing forced labour
    • Health and safety in the workplace
    • Protection for the environment
    • Provision of proper compensation and appropriate working hours for employees
    • Respect for employee rights and not discriminating against employees
    • Sharing standards with sub-contractors
    • Maintaining high ethical standards
    • Communicating openly and effectively with employees
  • This CoC is available internally to Cathay Pacific’s global offices and shared with its suppliers, both locally in Hong Kong and to those based in the rest of the world. Cathay Pacific actively works with suppliers who share its standards and manages risks related to its supply chain through continuous collaboration with its suppliers in accordance to this CoC. In the event that a supplier has fallen short of the requirements, Cathay Pacific reviews the relationship and shortfall on a case by case basis and proceeds accordingly. Cathay Pacific has also developed a balance-rated scorecard for procurement to measure suppliers’ performance in six different areas: Costs, Innovation, Satisfaction, Quality, Assurance of supply and Sustainability.
  • Sourcing sustainable seafood
  • According to World Wide Fund (WWF) Hong Kong, about 90% of commercially important fisheries are either fully or over-exploited globally. While awareness on choosing sustainable seafood to adopt responsible and sustainable practices has increased over the years, fish stocks remain threatened and some are on the verge of collapse. As a company that regularly serves fish to its customers and staff Cathay Pacific has been proactively addressing this challenge through responsible sourcing for almost a decade. Cathay Pacific is a corporate member of WWF and shares the same values and approach in sourcing certified sustainable seafood on selected routes. Since 2010, the food served to Cathay Pacific’s Economy Class passengers on its flights from European ports has come from sustainable sources, such as those certified by the Marine Stewardship Council (MSC). Recognising the need to conserve certain species that are endangered due to the problem of overfishing, Cathay Pacific established its internal Sustainable Food Policy in 2011 to provide guidance for its purchasing decisions. Cathay Pacific opts out of purchasing specific unsustainable food items and asks for information with regards to where the food was originally sourced. In 2018, Cathay Pacific Catering Services (CPCS) purchased a total of 417 tonnes of certified sustainable seafood to protect the marine ecosystem, a 8% increase from 2017. It is also Cathay Pacific’s corporate policy not to serve shark fin soup either inflight, at Cathay Pacific City, Cathay Dragon House or at any corporate events or meals which are organised or subsidised by the company.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 308-1 New suppliers that were screened using environmental criteria

2) Disclosure 414-1 New suppliers that were screened using social criteria

 

Disclosure 308-1 New suppliers that were screened using environmental criteria does not correspond to any SDG.

Disclosure 414-1 New suppliers that were screened using social criteria corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

1) This case study is based on published information by Cathay Pacific, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original, please revert to the original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Cathay Pacific: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

The post Case study: How Cathay Pacific promotes sustainable sourcing appeared first on SustainCase - Sustainability Magazine.

]]>