The Asia Responsible Enterprise Awards (AREA) 2023 is pleased to honor 78 outstanding business leaders and enterprises for championing sustainable and responsible business practices. Presented by leading regional NGO Enterprise Asia, the AREA is the most reputable award recognition program recognizing organizational efforts in creating a culture of compassion, integrity, and in being socially responsible corporate citizens. The AREA serves as a badge of excellence to spur further innovation and best-practice for sharing about the organization and the world at large.
Makalot Industrial Co., Ltd. (Makalot) was among the recipients who were conferred with the Corporate Sustainability Reporting Award. With a culture of integrity, team, and sharing, Makalot has broken away from the conventional commerce framework and consistently creates new business models. The company currently occupies a key position in the global value chain and aims to become the best-integrated service provider in the fashion industry.
Makalot is committed to reducing the impact of its operations on the environment and has planned a roadmap to reach Net Zero in 2050 by implementing various strategies. These are environmental management, green energy transition, and energy saving. The company also promotes environmental education for the younger generation to one day take over the responsibility of protecting the land and the environment, making future living more sustainable.
The company also aspires to return the support and good graces received by those that supported the company to achieve its success today. For the betterment of society, Makalot is committed to helping disadvantaged families and children, cultivating industry talent, and pursuing industry sustainability as well as the common good. In addition, Makalot has always adhered to the business philosophy of “Everyone is involved, advancing with the times”.
The governance of the company is upheld by the principles of integrity and transparency that function to strengthen operational capabilities, talent, and organizational development while also pursuing sustainable growth.
Through the process of materiality analysis, Makalot masters key sustainability topics to understand its stakeholders’ level of concern in various issues. It engages in self-examination regarding the effectiveness of corporate sustainability promotions within the organization. To this end, the company follows the GRI Standards to construct a standardized process for analyzing material topics and distributing questionnaires to stakeholders every two years.
In terms of topic identification, this year’s report adopts internal topics such as climate-related risks faced by the business in its operations. Externally, it adopts current international sustainable development standards and trends, customer requirements and specifications, and so on. The five major identification steps are as follows: Establish a Communication Audience, Collect Sustainability Issues, Survey Stakeholder Evaluations & Impact on Future Decisions, Determine its Importance to Makalot’s Operations, and Analyze the Materiality.
This award-winning sustainability report complies with the “core option” of the GRI Standards issued by the Global Reporting Initiative (GRI). It is compiled with active reference to various industry standards and guidelines.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.