CSR at RETAL

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Dear Stakeholders,

It is with great enthusiasm we share with you our 2021 Sustainability report which is our fourth since we commenced our sustainability journey in 2018.

We have continued with our efforts and development in line with our Corporate Social Responsibility (CSR) plan.

I am pleased to share with you that once again we have increased our performance, closed in on our goals and made RETAL’s business more sustainable while at the same time developing and growing our operations; we significantly increased our preform production capacity in the US and also entered the flexible packaging field with the installation of a printing unit in Lithuania during 2021.

Of course, climate change has remained a major part of our CSR activities, not only because it is our most material topic, but also because it is a prevailing threat to our society – a threat which is becoming increasingly evident to us all through recurrent radical climatic events, and changes to our daily lives.

I strongly believe it is crucial that businesses take substantial action in order to reduce their Green House Gas (GHG) emissions. We all have a role to play and I am tremendously happy with the work we have performed to achieve the goals we set in 2020. RETAL is now leading the way with a Carbon Disclosure Project (CDP) ‘B’ score for the third year in a row, thus demonstrating our good management of Climate Change (CC).

We set the scene in 2021 to present our science-based targets during 2022, and to have them validated ahead of our 2023 goal. This will position RETAL amongst the leading companies on CC action.

In 2021 we also increased our share of renewable electricity in our EU and US operations, and are confident to reach the goal of 100% use of renewable electricity in the EU and US operations by 2023. 

Another topic close to my heart is that we have increased our emphasis on the social aspect of our operation to make sure our main asset – our people – are central to RETAL. We have, therefore, developed various new policies and procedures such as new training programmes on Human Rights which will be launched during 2022.

We continue to improve our ethical performance to maintain the trust of our stakeholders through setting up an anti-bribery assessment. This will also be launched in 2022.

I am personally convinced that RETAL’s CSR actions will lead us to a more sustainable and resilient business strategy which will also meet our stakeholders’ expectations. We will continue to strengthen our position with new ambitious objectives and additional resources to ensure that we meet these goals.

Evgeny Kriss, Chief Commercial Officer Member of Board of Directors
Read full statement

Sustainability report 2021

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 Executive Summary

Key facts about our sustainability initiatives

Renewable electricity

63% of total consumption 82% in EU & US region

Science-based targets

SBTi target submission in process

GHG savings

87 000tn CO2eq (+21%) in 2021

EcoVadis Score

60% Silver level

CDP climate change

B score maintained

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.

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:
RETAL INDUSTRIES LIMITED
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.