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CSR at RETAL

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Hello,

Welcome to the 2023 RETAL Sustainability Report. This year we have, once again, further advanced our work in managing our material sustainability impacts and risks, reached some significant goals, and made good progress with many others ESG topics.

Our most important achievement is, without doubt, already reaching reaching a CDP A– score two years in advance of our 2025 climate goal. I personally see this as a great testament to RETAL’s commitment to sustainability, being a top performer in managing our most material sustainability topic – Climate Change, confirming our leadership in the industry.

I am also satisfied with the significant progress made within sustainable procurement, another of our material topics, almost reaching all our 2025 targets in 2023. We now aim to reach the same level of performance with the management of our social material aspects, as well as preventing any unethical behaviour, both in our operations and sphere of influence.

RETAL has already started this journey and dedicated resources to raising awareness on bribery and corruption, addressing and improving the working conditions for our employees and becoming a more inclusive organisation, but there is more to do. We are on the right track having set the base for our action, and I am confident I will have significant progress to report in 2024. In addition to managing our ESG impacts and risks, our work is also focused on anticipating and adapting to the new legal landscape on sustainability, especially in the EU, with the introduction of Corporate Sustainability Reporting Directive (CSRD), EU Taxonomy, and Corporate Sustainability Due Diligence Directive (CSDDD). We know from experience that it is crucial to start early to ensure compliance on time.

In 2023, two years ahead of the legal requirement, we performed our first double materiality and EU taxonomy analysis, which are disclosed in this report.
Last but not least, a key pillar to all our sustainability work is effective communication with our stakeholders, to understand and be aligned with their expectations and deliver relevant information to them. To support this and complement this annual report, we have implemented internal and external newsletters and increased our social media and press content, also encouraging our stakeholders to engage with us on
sustainability.

I look forward to hearing from you.

Emmanuel Duffaut Chief Sustainability Officer
Read full statement

Sustainability report 2023

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 sustainability@retalgroup.com

Key facts about our sustainability initiatives

Renewable electricity

43% globally in EU&US

Science-based targets

Validated by SBTi target submission in 2023

GHG savings

116 000tn (+15%) in 2022

EcoVadis Score

63% (+3pts) Silver level

CDP climate change

A- score

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:
whistleblower@retalgroup.com

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.