Wednesday Sep 25, 2024
Wednesday Sep 25, 2024
Monday, 29 September 2014 01:17 - - {{hitsCtrl.values.hits}}
Being a group of companies which carry out operations related to providing quality goods and services that have a significant impact on the environment, community and economy, the management of LAUGFS have foreseen social, economic and environmental opportunities and risks and directed its business decisions to ensure sustainable value creation.
A companywide system for sustainability thinking improvement has been developed with modifications made to purchasing and marketing related policies and processes, covering areas such as sustainable sourcing, stakeholder awareness creation and complying to necessary regulations and policies.
LAUGFS calculates the amount of carbon footprint or at a broader level, any negative impact on the environment which takes place as a result of the company’s operations in its actual bottom line. Generally termed as externalities, these impacts that are made on stakeholders external to them have to be minimised, if not neutralised for a company to be regarded responsible and arrive at actual bottom line calculations.
Under this initiative, the group challenges its business units to ask themselves the question, “How have your business contributed to our environmental foot print?” while the group’s flagship company LAUGFS Gas PLC prides itself with its significant contributions under the area of Environment Protection, the company motivates its people encouraging to think “How many trees would be otherwise chopped for fire wood if not the domestic fuel you are contributing to supply to masses?”
As a company which engages particularly in emission related businesses, LAUGFS has strengthened and revamped its approach to environmental sustainability. This process involves identifying aspects which are critical in the context of the current business and vision, identifying aspects which are critical in the context of stakeholders, identifying issues and concerns of stakeholders on the impact the company’s operations make on them and the environment at large and initiating and implementing ‘responses’ to these issues and concerns of all stakeholders related to the impacts the company makes.
The implementation of this four step operation takes place through a committee elected by the Group’s Board of Directors with the intention of methodically planning and implementing sustainability integration.
The committee has been carefully designed to facilitate smooth operation of all key sustainability aspects within the company. The Group CEO and the respective heads of companies directly work on sustainability initiatives, incorporating the approach to sustainability as a critical component of their strategic business plan. The people component, internal communication and awareness creation and presenting and persuading timely sustainability adoptions to the board, are methodically handled by this committee.
LAUGFS has always been in the forefront in introducing value added initiatives that provide greener services to the community including LAUGFS Gas Group’s directly funded initiatives such as vehicle emission testing, renewable energy generation and EGI Hybrid project funded through the Holdings Company.
It is also introducing the concepts of harnessing natural energy, such as hydro, wind and solar power. The Stage 1 of the mini hydro power plant with a power generation capacity of 0.5 MW, situated at Balangoda in the Sabaragamuwa Province was commissioned and connected to the national grid during the year under review. The next stage of this project will also be of 0.5 MW capacity construction of which has already been commenced.
Strategically diversified into a vast portfolio of business, LAUGFS Group makes a strong presence in the industry of energy and transport fuel. The group is trusted by millions for its accountability and shared responsibility that it has always lived up to, directing its investments responsibly.
