TOGETHER WE THRIVE
ANNU AL
SUS TAINABILITY REPOR T 2024
Sustainability Report 2024 1
CONTENTS
An aerial shot of one of our oil palm plantations, Oil Palm Uganda Limited, in Africa.
ABOUT THIS REPORT BOARD STATEMENT
BOARD SUSTAINABILITY COMMITTEE STATEMENT
ABOUT WILMAR
OUR APPROACH
TO SUSTAINABILITY
SUMMARY OF PROGRESS
2
6
8
10
12
20
THE ENVIRONMENT
Biodiversity and Conservation Nature and Biodiversity Reporting Climate Change
Environmental Footprint of Operations
Sustainable Packaging
PROTECTING
24
24
30
38
48
62
TRANSFORMING
OUR SUPPLY CHAIN
Responsible Sourcing and Supply Chain Transformation
148
148
BUSINESS PRACTICES
Business Ethics and Compliance Data Security and Privacy
RESPONSIBLE
152
152
158
PEOPLE AND COMMUNITIES
Talent Management
Human Rights and Labour Standards Diversity and Inclusion
Employee Health, Safety and Well-being
Economic and Community Contribution
LOOKING AFTER
66
66
76
90
100
116
APPENDIX
Materiality
External Assurance from Ernst & Young LLP
External Assurance from Control Union Certifications
Aligning with the Recommendations from the
Task Force of Climate-Related Financial Disclosures (TCFD) and IFRS Sustainability Disclosure Standards
Glossary of Terms
Glossary of Measurement Units
160
160
164
166
DELIVERING
PRODUCT EXCELLENCE
Innovation and Technology Consumer Health and Well-being Product Marketing and Labelling Product Quality and Safety
124
124
132
138
144
168
172
178
Sustainability Report 2024 3
13 Edition
ABOUT THIS REPORT:
th
2-1, 2-2, 2-3, 2-5
All content within this Report is based on material topics identified through our materiality assessment and are reviewed annually by our third-party sustainability consultants. For more information on our material topics and materiality assessment, please refer to Materiality.
All photos of people and places in this Report were taken at Wilmar sites and depict past and present Wilmar employees and stakeholders.
Understanding the need to provide our stakeholders with decision-useful, relevant and timely information, Wilmar seeks to refine our reporting practices year on year. We align closely with global best practices, applying the Global Reporting Initiative (GRI) Reporting Principles of accuracy, balance, clarity, comparability, completeness, sustainability context, timeliness and verifiability, which are fundamental to high-quality sustainability reporting.
Wilmar's Sapi Plantation in Sabah, Malaysia.
Wilmar
"Company" or "Wilmar", together with its subsidiaries, the "Group") maintains a longstanding commitment to sustainability
International
Limited
(the
reporting, and to continuously enhancing the transparency and quality of our disclosures in alignment with international best practices. This Report marks the 13th edition of our Sustainability Report.
This Report is meant to be read alongside our suite of reporting materials:
ANNUAL REPORT 2024
SUMMARY OF PROGRESS
PALM NO DEFORESTATION,
NO PEAT, NO EXPLOITATION (NDPE) IMPLEMENTATION
ANNUAL REPORT 2024
SUPPORTING THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS (SDGS)
SUSTAINABILITY DASHBOARD
BASE DATA TABLES
4 Wilmar International Limited Sustainability Report 2024 5
Scope and Boundary
2-2, 2-3
Aligned with our financial reporting cycle, this Report contains data and information in respect of the financial year (FY) ended 31 December 2024.
Unless otherwise stated, this Report covers all subsidiaries across our business segments. The Group's business segments include the following: (1) Plantation and Sugar Milling; (2) Feed and Industrial Products; and (3) Food Products.
Performance data on social (S) and governance (G) cover all subsidiaries. Data on environmental (E) indicators cover all
Reporting Frameworks
GRI 1
subsidiaries including joint ventures (JVs) and associates where we have operational control.
With a proactive approach to data consolidation amid a rapidly expanding business, we continue to onboard recently acquired businesses and commissioned sites into our global safety and environmental data reporting platform and strive to complete these additions within six months of acquisition or commissioning. This platform centralises the approach towards consolidating information across our material topics.
External Assurance
2-5
Ernst & Young LLP (EY) has provided independent and limited assurance for selected disclosures in this Report. To ensure accountability, Wilmar's Board of Directors, through the Board Sustainability Committee (BSC), has oversight of the subject matter covered by the assured figures and statements in this Report.
Material disclosures pertaining to our palm value chain have undergone assurance by Control Union Certifications (CU). Additional details can be found in the Assurance Statements on pages 164 to 167.
Internal Assurance
Aligned with SGX's sustainability reporting requirements,
To ensure high-quality sustainability reporting, we have adopted leading standards and frameworks that are among the most widely used and trusted. Aligned with best practices and comprehensive in their coverage across a range of pertinent environmental, social and governance (ESG) topics, these standards guide our reporting process and have industry-specific relevance to Wilmar's business, where applicable.
Standard | Application of Standard | Link To Content/ Disclosure Index |
GRI | Wilmar has reported in accordance with the GRI Sustainability Reporting Standards 2021 for this Report. References to the GRI disclosures are denoted throughout this Report using the notation: [XX-XX] | GRI CONTENT INDEX |
SASB | Wilmar has adopted the industry-specific standards of the Sustainability Accounting Standards Board (SASB):
These disclosures are denoted throughout this Report using the notations: [FB-AG-XXXX.X] and [FB-PF-XXXX.X] | SASB DISCLOSURE INDEX |
UN Guiding Principles Reporting Framework | Since our Sustainability Report 2021, we continue to report based on the United Nations (UN) Guiding Principles Reporting Framework | UN GUIDING PRINCIPLES REPORTING FRAMEWORK INDEX |
TCFD/IFRS Sustainability Disclosure Standards | Our climate change disclosures align with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Following the disbanding of the TCFD in 2023 and Singapore Exchange's (SGX) enhancements to sustainability reporting regulations, Wilmar seeks to progressively incorporate the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards S2 into our disclosures. This Report marks our first disclosures against IFRS S2 as well as IFRS S1, where relevant to IFRS S2 disclosures | IFRS S2 DISCLOSURE INDEX |
SGX | This Report complies with the requirements of the Singapore Exchange Securities Trading Limited's Listing Rules 711A, 711B and Practice Note 7.6 (Sustainability Reporting Guide) |
Wilmar's external assurance covers all key aspects of Wilmar's operations. Based on this approach, no further internal review has been conducted as determined by Wilmar's internal assessment.
FEEDBACK
2-3
As we progress in our sustainability journey, we appreciate and thoughtfully consider the meaningful insights stakeholder feedback can provide. We welcome and value any comments, questions or suggestions regarding this Report and our sustainability performance. Please send your feedback to:
Post
Wilmar International Limited 28 Biopolis Road
Singapore 138568 Attention: Sustainability Department
csr@wilmar.com.sg
Sungai Segama in Sabah, Malaysia, which is next to Wilmar's Sabahmas Plantation.
6 Wilmar International Limited Sustainability Report 2024 7
BOARD STATEMENT
The past year has marked a period of significant transformation and resilience for businesses like Wilmar as we navigate an increasingly complex global landscape. Amid heightened geopolitical shifts, evolving regulatory demands and an escalating urgency for climate action, Wilmar remains steadfast in our commitment to sustainability. We see these challenges not as obstacles, but as catalysts to strengthen our leadership in sustainability, drive innovation as well as to expand our partnerships and collaborations.
Sustainability is deeply embedded in our business, guiding every aspect of our strategy, operations and decision-making. We are committed to making a positive impact by focusing on four key priorities:
Protecting the environment
Looking after people and communities
Delivering product excellence
Transforming our supply chain
We are pleased to present our Sustainability Report 2024, which highlights not only the progress we have made towards our own commitments but also the broader impact we have achieved through strategic partnerships and collective action. By collaborating with a diverse network of stakeholders, we continue to champion sustainable and responsible practices across our global operations and throughout our supply chain.
This Report also marks 18 years of sustainability disclosures-a testament to our longstanding commitment to transparency, accountability and continuous improvement. We maintain our commitment to align our reporting with international standards and frameworks including the SASB Standards, the GRI Standards 2021, as well as the sector standard GRI 13: Agriculture, Aquaculture and Fishing Sectors 2022.
We welcome and recognise the International Sustainability Standards Board's (ISSB) inaugural Sustainability Disclosure Standards and the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations as global benchmarks for robust and consistent sustainability reporting.
We are committed to integrating these standards into our disclosures. To achieve this, we have conducted a gap analysis to assess our alignment with the ISSB's IFRS S1 and S2 as well as the TNFD recommendations. This Report marks our initial disclosures against IFRS S2 and IFRS S1, where relevant to IFRS S2 disclosures. We are dedicated to continuously refining our approach in line with evolving global standards and upholding our commitment to transparency.
We are proud to have our near- and long-term science-based emissions reduction targets officially validated by the Science Based Targets initiative (SBTi). These targets, approved under the SBTi Corporate Net-Zero Standard and the SBTi Forest, Land and Agriculture (FLAG) Guidance, commit us to absolute reductions in Scope 1 and 2 emissions, as well as Scope 3 emissions from our supply chain. This independent validation affirms that our climate goals are grounded in the latest scientific guidance and aligned with global efforts to address climate change.
Looking ahead, we are committed to accelerating climate action, protecting natural ecosystems, and safeguarding the wellbeing of the communities we serve. Guided by the strategic oversight of our Board of Directors, BSC, as well as Chairman and CEO, we will continue to uphold robust governance and clear commitment for our sustainability agenda. This dedicated leadership empowers us to address challenges proactively and deliver meaningful, long-term value to our stakeholders.
We express our heartfelt gratitude to our employees, stakeholders and partners for their unwavering support and shared commitment to a sustainable future where 'Together We Thrive'. We look forward to making even greater strides together in our sustainability journey towards a future where People are empowered, the Planet is protected, and Prosperity is inclusive.
BOARD OF DIRECTORS,
WILMAR INTERNATIONAL LIMITED 29 MAY 2025
From left:
Juan Ricardo Luciano, Gary Thomas McGuigan,
Lee Huay Leng, Soh Gim Teik, Kuok Khoon Ean, Teo La-Mei,
Lim Siong Guan, Kuok Khoon Hong, Pua Seck Guan, Kuok Khoon Hua, Chong Yoke Sin, Cheung Chi Yan Louis, Jessica Cheam,
George Yong-Boon Yeo and Tong Shao Ming
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |