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Sustainable Procurement Policy

EcoWorld’s Sustainability Objectives

EcoWorld’s sustainability efforts are guided by the 17 Sustainable Development Goals (SDGs) designed by the United Nations as a “blueprint to achieve a better and more sustainable future for all”. We are committed to taking positive steps towards greater achievement of the goals most relevant in the context of our operations in the hopes that our efforts will count towards the global achievement of the SDGs. This Sustainable Procurement Policy reflects our commitment to embedding sustainability in everything we do.

Procurement plays a large role in the work that we do, from daily administrative needs to the building blocks of our developments. Conducting the procurement function sustainably means making sure that the products and services that we source, and their related suppliers are both environmentally and socially responsible. Sustainable procurement must also be ethically sound and make good financial sense.

This Sustainable Procurement Policy serves as a guide for EcoWorld’s procurement activities as well as the procurement practices of our supply chain partners conducting business with and on behalf of EcoWorld.

The Sustainable Procurement Policy is approved by EcoWorld’s Sustainability Committee and endorsed by the EcoWorld Board of Directors.

Our Principles of Sustainable Procurement

  • Partnerships for Growth: EcoWorld believes in creating collaborative and mutually beneficial relationships with our supply chain partners, where both parties engage in ethical business transactions, embrace opportunities to learn from each other and promote innovation and continuous improvement.

  • Stimulation of local economy: Where practical and practicable, we will exercise our preference for local supply chain partners and locally sourced materials in the interest of creating economic growth and employment opportunities domestically within our areas of operation.

  • Equal opportunity entry for all: We commit to conducting supplier pre-qualification and tender evaluations in a fair and transparent manner, based on clearly stipulated and reasonable criteria.

  • Environmental consciousness: In the interests of environmental protection and minimising our carbon footprint, EcoWorld is committed to finding eco-friendly alternatives which are least harmful to nature. Where practical and financially sensible, preference will be given to suppliers whose products and services are designed, sourced and manufactured taking into consideration resource (i.e. energy, water, raw materials) efficiency, climate change impacts and biodiversity conservation.

  • Social responsibility: EcoWorld places great emphasis on respect for human rights, good labour practices and adherence to the laws of the land. Our supply chain partners are similarly expected to practice good governance, treat employees with dignity, and care for the community at large. Proper health and safety procedures must be in place for employee protection and modern slavery practices such as forced or child labour will not be tolerated. We fully support employee rights to collective bargaining and freedom of association, as well as their rights to a decent and non-discriminatory workplace environment.

Measurement of Supplier Performance

EcoWorld reserves the right to conduct periodic assessments on supply chain partners’ performance in the aspects of (but not limited to) sustainability practices, product and service quality, adherence to EcoWorld’s procurement criteria, compliance with rules and regulations, ethics, and financial health. Opportunities for improvement will be communicated and deliberated in a respectful manner with the relevant supply chain partners.

Communication of the Policy

This Policy and its supplementary guidelines will be made available to all staff on the intranet portal, and are also to be communicated to current and prospective suppliers. The Policy will also be made available for viewing by the public via the EcoWorld corporate website

Training and awareness sessions will be conducted for all staff periodically to ensure that the spirit of
the Policy is widely understood and practised robustly.

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