GraceKennedy has engaged Nasdaq to support the development of its Environmental, Social and Governance (ESG) programme.
ESG considers how a company safeguards the environment, manages relationships with its internal and external stakeholders and governs the operations of its business. In early 2022 GraceKennedy announced that it would be pursuing an ESG agenda, in keeping with the strategic objectives of its 2030 vision. Nasdaq ESG Advisory offers consultative services to develop and enhance companies’ ESG positioning and performance, as ESG disclosures become increasingly more relevant to investors.
Speaking on the latest development in GraceKennedy’s pursuit of its ESG agenda, Group CEO of GraceKennedy, Don Wehby commented, “We are excited to be working with Nasdaq to build out our Group’s ESG programme. Although there aren’t currently any stock exchanges in the Caribbean which requires ESG disclosures, GraceKennedy aims to be the regional leader in this regard and our approach must be world class, in keeping with current trends.”
Wehby continued, “Adopting an ESG approach for our business aligns seamlessly with GK’s longstanding commitment to being a good corporate citizen, and our core values of honesty, integrity, and trust, always underpinned by our we care ethos – so this is a logical evolution for our business as we look to the future of our business around the world.”
Over its 100-year history, GraceKennedy has remained committed to exceptional governance standards, being a strong and impactful corporate citizen. GraceKennedy has received over 40 Best Practices Awards from the Jamaica Stock Exchange since it was established in 2004 and is a five-time recipient of its prestigious Governor General’s Award for Excellence, which honours the listed company which consistently upholds international best practices.
Nasdaq will begin by conducting an ESG Materiality Assessment for GraceKennedy, which will provide insights into its organisation and its stakeholders’ perceptions of key risks and opportunities for growth related to each dimension of ESG. This process is particularly relevant as the international regulatory environment is moving towards one which requires ESG disclosures by publicly traded companies, signalling a shift towards greater transparency, accountability, and sustainability.
Over the next several months, GraceKennedy will continue to make public its ESG commitments. Gail Moss-Solomon, General Counsel & Chief Corporate Secretary of GraceKennedy, and Executive sponsor of ESG for the Group, explained, “At GraceKennedy, good governance is at the core of everything that we do and it is often echoed that ‘what gets measured, gets done.’ Once our materiality assessment has helped establish our key ESG goals, the next step is about measuring our contributions towards these goals to ensure that meaningful and impactful work is being done. ESG is not only about being a good corporate citizen, but it must also be a win-win for our business and the communities we serve. Our shareholders and other stakeholders will hold us accountable to that, and so it is critical that we are able to quantify our progress.”