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Thai Acrylic releases first sustainability report
10
Dec '15
Thai Acrylic Fibre (TAF), a Thailand-based manufacturer of acrylic fibre, released the Thai Acrylic Fibre Sustainability Report 2014 – its first sustainability report – in order to disclose the sustainability initiatives undertaken by the company in the year 2014 and the results achieved for the same.

The report, made as per the Global Reporting Initiative (GRI) G4 guidelines, contains details of the assessment carried out by TAF with its management and internal and external stakeholders. Information about the introduction of sustainability context in material issues have also been presented in the report.

As a sustainability initiative, the company has undertaken measures to reduce energy consumption, increase use of recycled materials, reduce water consumption, and emission reduction. TAF has implemented social accountability (SA-8000) standard which is auditable and enables monitoring for compliance against human rights issues.

Employee welfare initiatives are detailed out in the report as employees are at the heart of the organisation. In FY 14, six stakeholder meetings were held in which concerns and expectations of different stakeholder groups were discussed.

The report mentions the company's plan to increase the number of audits and conduct structured engagements with their supply chain on sustainability concerns, and wherever possible, influence the suppliers to adhere to their sustainable business practices in greater measure.

During the reporting period, there were no cases registered related to non-compliance concerning product information and labelling or provision and use of products. A project evaluation matrix that integrates sustainability aspects for categories and stages of projects is being developed.

Commenting on the release of the sustainability report, AK Maheshwari, CEO of TAF said, “It is my pleasure to introduce our first TAF sustainability report. We endeavour to become a leading industry benchmark for sustainability processes and performance by 2020 through engagement of all stakeholders.

“We believe that putting sustainability at the centre of our business will help us maintain a competitive edge and find solutions that make a difference and help create a cleaner world. This report builds on our persistent efforts to build an ethical, responsible and sustainable business.” (MCJ)

Fibre2Fashion News Desk – India

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