Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced energy consumption in Taka outlets by 17% (from 428.8 mWh to 355.1 mWh) and in Top Cash outlets by 22% (from 53.8 mWh to 41.7 mWh). Reduced energy consumption at head office by 7% (from 148.4 mWh to 137.6 mWh).

Social Achievements

• Supported Safari-themed walkathon – Walk for Our Children 2018, organized by Singapore Children’s Society.
• 91% return to work and retention rate for female employees after parental leave, 93% for male employees.

Governance Achievements

• No whistleblowing reports received in FY 2019.
• No reported cases of misconduct by employees or other stakeholders in FY 2019.
• No legal cases of corruption brought against the Group in FY 2019.

Climate Goals & Targets

Environmental Challenges

• Stiff competition in the retail environment and cautious consumer spending behavior leading to a 2% decline in retail revenue.
• Trade tensions and currency volatility impacting economic growth.

Mitigation Strategies

• Launched new signature collection designs to remain innovative and relevant to changing consumer preferences.
• Increased participation in international exhibitions to boost revenue.

Supply Chain Management

Responsible Procurement

• Suppliers critically assessed based on expertise, quality, and past performance.
• Suppliers evaluated based on stringent criteria to ensure compliance with local rules and regulations, including ethical business practices.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards - Core Option

Sustainable Products & Innovation

• New signature collection designs

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Anti-corruption
• Energy
• Employment
• Local Communities
• Customer Privacy

Environmental Achievements

• Total energy consumption decreased for headquarters, Taka outlets, and Top Cash outlets.

Social Achievements

• Maintained zero reported cases of confirmed corruption and wrongdoings.
• No reported case of money laundering.
• No whistle-blowing reports received.
• No incident of loss of customers’ data and no report of breaches of customer privacy.
• Participated in “Walk for Children” (FY2020)

Governance Achievements

• Adopted the revised 2018 Code of Corporate Governance.
• Established policies and procedures on Conflict of Interest, Whistleblowing, and Code of Business Conduct.
• Maintained zero-reported cases of confirmed corruption and wrongdoings.

Climate Goals & Targets

Environmental Challenges

• Lower revenues from the wholesale and exhibition business segment due to COVID-19 restrictions.
• Volatility of retail sales in relation to COVID-19 measures.
• Fierce market competition, currency fluctuations, and raw material price fluctuations.

Mitigation Strategies

• Diversified to showcasing jewellery on regular virtual sales events and promoting through digital platforms.
• Reduced non-essential expenditure.
• Increased involvement in the digital space (live webcasts, online shopping channels, social media).
• Diversified into money lending business.

Supply Chain Management

Responsible Procurement

• Critically evaluate all suppliers based on expertise, quality and past performance.
• Procurement team evaluates all suppliers based on strict criteria ensuring compliance with local laws and regulations, including ethical business practices.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards - Core Option, SGX-ST ‘Comply or explain’ requirements

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Anti-Corruption
• Energy
• Employment
• Local Communities
• Customer Privacy

Environmental Achievements

• Total energy consumption steadily decreasing in headquarters, Taka Jewellery stores and Top Cash outlets.

Social Achievements

• Launched lab-grown diamonds as a new product line to meet the growing demand for ethically sourced and sustainable diamonds.
• Zero substantiated complaints concerning breaches of customer privacy or violations of the PDPA. Zero identified leaks, thefts, or losses of customer data.
• Provided all full-time employees an attractive benefits package that includes medical insurance, compassionate leave, and childcare leave.

Governance Achievements

• Zero reported cases of corruption, money laundering, or other improprieties in FY2022.
• Implemented comprehensive internal controls on key operations to mitigate our financial, operational, compliance and information technology risks.

Climate Goals & Targets

Environmental Challenges

• Global economic slowdown caused by the COVID-19 pandemic impacted the retail sector.
• Lower sales contribution from gold products due to market fluctuations in gold price and adjustments in the Group’s marketing strategies post-COVID-19.

Mitigation Strategies

• The Group has been able to ride on the recovery trajectory, underpinned by easing COVID-19 measures and the lifting of international travel restrictions, to deliver robust financial performance.
• Continued to identify and implement energy conservation measures to reduce our environmental footprint.

Supply Chain Management

Responsible Procurement

• Policies and procedures in place to guide and facilitate the different stages of procurement, including vendor selection, comparison, and periodic evaluation.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards – Core Option

Sustainable Products & Innovation

• Lab-grown diamonds

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Anti-Corruption
• Energy
• Employment
• Local Communities
• Customer Privacy

Environmental Achievements

• Reduced carbon emission by 3% in FY2024 (202.57 tCO2e compared to 208.82 tCO2e in FY2023)

Social Achievements

• Donated approximately 470 kg of items to The Salvation Army Singapore Red Shield Industries
• Maintained zero complaints of workplace discrimination and unfair practices in FY2024
• Expanded healthcare coverage for outpatient and specialist medical consultations
• Adjusted and increased staff leave entitlements and introduced flexible benefits

Governance Achievements

• Maintained zero reported cases of corruption and wrongdoing in FY2024
• Implemented a comprehensive framework of corporate governance policies and procedures
• Instituted a whistle-blowing policy

Climate Goals & Targets

Environmental Challenges

• Persistent manpower crunch leading to staffing shortages that curtailed overseas expansion plans
• Reduced wholesale export sales to overseas customers
• Supply chain disruptions due to climate changes such as extreme weather events

Mitigation Strategies

• Focus on strengthening domestic market presence
• Enhanced digital presence and e-commerce capabilities
• Cautious approach to expansion, focusing on preserving resources and keeping expenses low
• Continuously replenish raw materials from suppliers in Singapore, China, and Hong Kong based on market demand and sales forecasts

Supply Chain Management

Responsible Procurement

• Strict criteria for supplier evaluation
• Quality assurance system involving checks to verify that diamonds are properly certified

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2021, TCFD

Sustainable Products & Innovation

• Lab-grown diamond jewellery