A common ingredient in many products on supermarket shelves - ranging from food-related to personal care - palm oil is the most widely used vegetable oil in the world. It...
In a recent interview with global business intelligence provider Economist Intelligence Unit (EIU), Sateri CEO Tey Wei Lin says that sustainable operations will continue to be the cornerstone of Sateri’s business in the years ahead, as it continues on track to becoming the world’s largest producer of viscose rayon.
Mr Tey emphasises Sateri’s commitment to being an industry leader and the importance of having the right mindset to ensure sustainability is an integral part of sourcing, production and distribution along the entire supply chain.
Sustainability: Our Licence to Operate
Even if customers might not be willing to pay more for products made sustainably today, adopting such a strategy would be sure to pay off in the future. Eventually, consumers will start to demand more accountability and transparency from producers. By that time, companies that have not embraced sustainability will be locked out of certain consumer segments or in some cases, be forced to shut down.
Mr Tey clarifies that being sustainable is not just about meeting compliance or government-set standards either. Such levels of sustainability are what he considers as the low bar. He aims for Sateri to go above and beyond compliance and align the entire organisation, such as incentive systems, with its sustainability objectives.
Ultimately, Mr Tey believes that the ultimate responsibility for sustainability comes from the top and setting the tone is important. This is why the leader of Sateri constantly reminds his people of the need to be sustainable; it is their only licence to operate.
Click here for the full interview of Mr Tey on EIU’s “Sourcing Transparency: Who should clean up supply chains?”. His interview starts at the 4:35 minute mark.