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Dear RETAL Stakeholders,

First and foremost, I sincerely hope that you and your loved ones remained safe throughout the Covid 19 pandemic.

I would also like to take this opportunity to thank and congratulate all RETAL employees for their tremendous efforts throughout these trying times, with a special mention to our factory personnel, who faced and overcame difficult working conditions to successfully maintain our production activity.

Our people demonstrated once again that they are at the heart of RETAL’s success and long-term sustainability. Our people are at the heart of our CSR agenda too, through which we aim to provide the best working conditions and mitigate our social and environmental impact, to ensure we are a responsible business where our people are proud and happy to work.

As a company, we will take the learnings of the Covid crisis to develop and strengthen the social aspect our CSR action. We intend to improve our employees’ professional and personal life balance, for example, by continuing to integrate homeworking and optimising necessary business travel, while also contributing more to our local communities.

As we continue our sustainability journey, which was initiated in 2018, I am pleased to present our 2nd annual Sustainability Report, which I trust will meet your expectations and provide you with the relevant information on RETAL’s CSR action, achievements and performance.

In 2019, we further implemented the ISO 26000 standard across our operations and in our sphere of influence, and we are delighted to be reaching the high targets we set ourselves.

Following our Materiality Assessment, we have maintained a strong focus on the environmental aspect of our business, with Climate Change and the Circular Economy as our main material topics. As we positively progress in these areas, we have widened our Scope of Action to address in more depth
other material aspects such as Human Rights, Labour Practices and Promoting CSR in the Value Chain with, for example, the launch of RETAL’s Sustainable Procurement Program.

2019 also saw the first tangible results of our CSR action. We increased our EcoVadis rating to Silver and obtained a highly satisfactory B in our first CDP evaluation, demonstrating efficient management of our impact on climate change.

These quantifiable achievements confirm that RETAL is on the right path, and highly motivates us all to continue our efforts to integrate CSR throughout our organization and to ensure we contribute positively to sustainable development.

I look forward to sharing more of RETAL’s CSR progress with you next year. For now, keep safe!

Elena Maksimenko, Chief Financial Officer
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Sustainability report 2019

Through this sustainability report we intend to provide all our stakeholders with an overview of RETAL’s current situation and the first steps into our sustainability journey.

We would like to use this report as a key element in our stakeholders’ engagement and we hope that it will spur comments, questions and suggestions that will help us improve our global CSR action. We will be glad to hear from you at [email protected]

Download Sustainability report

Key facts about our sustainability initiatives

Renewable electricity

30% of total consumption 45 % increase from 2018

Light weighting

4 092tn of CO2eq saved 44 initiatives in 2018

Carbon footprint mitigation

70 270tn CO2eq saved globally in 2019

EcoVadis Score

58% Silver level

CDP climate change

B score 2019 survey

Management approach

In order to reach our CSR objectives of performance, transparency and accountability, and to meet our stakeholders’ expectations, RETAL is adopting a systematic and holistic approach by implementing the ISO 26000 standard internally and throughout our supply chain.

To help us achieve this in an efficient way we are using the CSR Analytics Pro Toolkit designed by leading international CSR consultancy the CSR Company International, specializing on Strategic CSR, Business Ethics, Sustainability and Stakeholder Engagement.

For all ISO 26000 ‘Core Subjects’, RETAL is adopting a “Plan-Do-Check-Adjust” management approach, defining global objectives and targets through policies, implementing action plans with KPIs to reach those targets, and retro-adjusting objectives based on results.

ISO 26000 standard

ISO 26000 is an internationally recognized standard for CSR management with a holistic approach focusing on seven core subjects:

• Organisation Governance,
• Human Rights,
• Labour Practices,
• The Environment,
• Fair Operating Practices,
• Consumer Issues
• Community Involvement and Development.

Implementing ISO 26000 will provide robustness to our action and allow RETAL to align with European recommendations in terms of non-financial reporting.

retal Policies

RETAL has defined several policies on the main ISO 26000 core topics to guide our CSR action.

Code of Business Conduct Environmental Policy Anti-Corruption & Anti-Bribery Policy Code of Conduct for Suppliers Sustainable Procurement Policy

Whistle-blowing channel

RETAL strives to be a transparent and ethical company and welcomes any of its employees and external stakeholders to report in good faith any actual or suspected violation of our Policies and any other irregularities, potentially detrimental to RETAL and its business, that they may observe. For this purpose, RETAL has created the following whistle blowing channels through which a violation report can be made:

Via email:
[email protected]

Via written letter:
to the attention of Chief Legal Officer
Epimitheos, 6 Industrial Area A,
Limassol, 3056, Cyprus

We urge the person or ‘whistleblower’ to provide an as detailed as possible description of the matter to allow a proper investigation.

All violation reports may be submitted anonymously, however whistleblowers are encouraged to provide contact details since it may help the investigation and allow RETAL to inform them of the results. If provided, RETAL will endeavor to maintain confidentiality on the whistleblower identity unless otherwise specified by the law.

If the whistleblower is a RETAL employee, he/she will not be retaliated in any way for report being made in good faith.

All reports shall be received and processed properly, objectively and fairly in accordance with RETAL whistleblowing protocol.

You are welcome to download the report without answering these questions, but we would appreciate your information if possible for our internal analytics. Thank you.

You are welcome to download the report without answering these questions, but we would appreciate your information if possible for our internal analytics. Thank you.