To improve the sustainability of our supply chain, we refer to recognised international and industry standards and guidelines. We have improved our supplier due diligence management mechanism to cover management systems, risk identification and assessment, risk management, verification, due diligence and annual review.
During the year, we have strived to promote management systems and guidelines for supplier due diligence as well as for risk identification and assessment. Based on our management systems and guidelines, we conducted due diligence on key diamond raw material suppliers, and used digital tools to analyse the background, qualifications, policy implementation and transparency of suppliers to identify and assess their sustainability risks, including hotspots of anti-money laundering and counter-financing of terrorism, conflict-affected and high-risk areas, and corruption and bribery.
In FY2023, we did not identify any diamond raw material suppliers with significant sustainability risks.
In FY2023, Chow Tai Fook launched the sustainability action, “Greener Planet Series” in collaboration with the Mangrove Conservation Foundation (“MCF”). The “Blissful Wetlands” campaign aims to protect the endangered spoon-billed sandpiper and its natural habitat in Mainland China, in an effort to conserve biodiversity.
To realise the aim of ecological protection, we cooperated with an industry-leading packaging material supplier to design exclusive environmentally friendly packaging boxes. The packaging box is made of FSC certified paper and hot stamping. Using an innovative printing technique, we eliminated the common difficulty of recycling hot stamping products, allowing it to be recycled together with paper - greatly reducing the environmental burden caused by the disposal of packaging materials.
At the same time, we launched an innovative mini programme, “Greener Planet Series — RMB 1 to Protect the Spoon-billed Sandpiper”, and launched the limited-edition gold charm, “Blissful Wetlands”, which successfully raised public awareness of nature conservation. The event donated RMB 760,000 to the MCF and encouraged more than 3,000 people to donate through the app.