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Business Ethics: John Keells Holdings's Corporate Social Responsibility and Sustainability

This document contains details about business ethics, their implications on the business, benefits and disadvantages as well as the ways of using them

Business Ethics in Action

John Keells Holdings

Corporate Social Responsibility and Sustainability

Table of Contents

TOC \o "1-3" \h \z \u 1. Introduction to the Organization PAGEREF _Toc92806588 \h 3

2. Introduction to Corporate Social Responsibility of JKH PAGEREF _Toc92806589 \h 3

2.1 Approach of JKH to Corporate Social Responsibility PAGEREF _Toc92806590 \h 4

2.2 CSR Initiatives during Covid-19 PAGEREF _Toc92806591 \h 4

2.3 Other CSR Initiatives of JKH PAGEREF _Toc92806592 \h 5

3. Approach to Sustainability in JKH PAGEREF _Toc92806593 \h 6

3.1 Introduction to Sustainability at JKH PAGEREF _Toc92806594 \h 6

3.2 Group Approach to Sustainability PAGEREF _Toc92806595 \h 7

3.3 Sustainability Integration of JKH PAGEREF _Toc92806596 \h 8

3.4 Key Sustainability Concerns PAGEREF _Toc92806597 \h 9

1. Introduction to the Organization

PLC John Keells is a holding company that has a diverse portfolio of commercial operations, which includes a number of different retail locations. Transportation, leisure and hospitality, real estate, consumer foods and retail, financial services, information technology, and other sectors are some of the business segments that the corporation operates in. The transportation industry is in charge of the supply of transportation-related services to the general public. Cinnamon Hotels & Resorts now runs more than two five-star city hotels in Colombo, around eight resort hotels in Sri Lanka, and approximately three resorts in the Maldives, all of which are classified as leisure destinations by the World Tourism Organization. The construction and selling of residential condos are the primary focuses of the real estate sector in most areas. Producing consumer foods and selling them are divided into two categories: manufacturing and retailing. Manufacturing accounts for the lion's share. Financial services is a broad area that encompasses a variety of financial goods and services. All aspects of the information technology sector, from business process outsourcing to software services and information integration to office automation and robots, are covered. It is one of the categories that is still in operation today to provide plantation services to customers CITATION Joh21 \l 1033 (John Keells Holdings PLC, 2021).

2. Introduction to Corporate Social Responsibility of JKH

It is the John Keells Foundation, which receives funding from JKH and its subsidiaries, that is responsible for the vast bulk of the Group's corporate social responsibility programs and operations. The Foundation manages a number of projects, all of which are guided by the Foundation's guiding principle of being accountable to its stakeholders and encouraging sustainable development in the areas in which it is most interested CITATION Joh20 \l 1033 (John Keells Holdings, 2020).

John Keells Group places a premium on demonstrating their commitment to all stakeholders, particularly the communities and environments in which their firms operate. As part of the Group's corporate social responsibility mission, "Empowering the Nation for Tomorrow," a minimum of 1% of annual revenue is dedicated to social responsibility initiatives. Corporate social responsibility (CSR) is a major priority area for the Group, with particular emphasis on education, health and livelihood development, the environment, arts and culture, and disaster assistance among its primary priorities.

2.1 Approach of JKH to Corporate Social Responsibility

The John Keells Group is 150 years old which has been a key player and leader in Sri Lanka's economic progress. Numerous such efforts have acted as catalysts for growth in sectors like as ports, food and beverage, and leisure. As previously said, it is critical that their communities, people, and environment all evolve together with the company on this trip. As a result, their approach has been one of accountability, collaborating with their employees to contribute to the progress and prosperity of their country CITATION JKH21 \l 1033 (JKH, 2021). The company drive six main areas throughout the group from the John Keells Foundation: health, education, livelihoods, environment, arts and culture, and disaster relief. Medium- to long-term projects in these condensed areas are linked to national priorities, the Sustainable Development Goals (SDGs), and the principles of the United Nations Global Compact to ensure a collective, targeted approach to recognizing crucial universal necessities for holistic development, with an emphasis on the aspects of sustainable development – economic growth, social inclusion, and environmental protection – in order to secure a collective, targeted approach to acknowledging crucial universal needs for holistic improvement, with an assertion on the three pillars of sustainable development.

The company at John Keells Group have always acknowledged their obligation to elevate the areas in which the company operate, and all of their initiatives are geared toward enabling their employees and communities to meet tomorrow's requirements. The company is certain that in order for their companies to develop and flourish, their country, both people and environment, must also grow and prosper. The company focus on projects that increase capacity and production, attempting to develop skills and livelihoods that will transition their people away from reliance on handouts and toward employment with dignity. The Group consults with stakeholders on all of its projects. These dialogues have inevitably taken into consideration the problems brought by COVID-19 during the last 18 months. The ability gaps in English and ICT have grown more obvious than ever before, since daily interactions have shifted to the virtual realm. Their youth empowerment programs have emphasized the development of relevant skills such as English and information technology in schoolchildren and career skills in undergraduates, as well as the pursuit of higher education and livelihood skills among youth. Through their 'Praja Shakthi' project, the company attempt to reduce and alleviate societal evils such as gender-based violence, child abuse, and drug misuse while also developing sustainable livelihoods with an emphasis on women. This year, as part of its disaster relief operations, the community received assistance to satisfy urgent needs and to strengthen the country's medical capabilities.

2.2 CSR Initiatives during Covid-19

While COVID-19 posed unprecedented difficulties to their companies and communities, it served as a catalyst for identifying gaps and possibilities.

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