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Home OUR SUSTAINABILITY Our Sustainability Journey Governance

Governance

At Bud APAC, the integration of sustainability principles and considerations into our governance framework plays a significant role in our long-term success. Having robust policies and procedures, with regular performance monitoring, training and dis

  • Board Oversight

    At Bud APAC, we have a robust governance structure to ensure proper oversight by the Board of Directors. As the ultimate strategic and decision-making body, the Board of Directors (Board), is responsible for harmonising the corporate ethos with the Company’s mission, values, and strategic direction, and ensuring a cohesive link between corporate governance and sustainability.

    The Board Committees – which include the Nomination Committee, the Remuneration Committee, and the Audit and Risk Committee – are primarily composed of Independent Non-Executive Directors (INEDs). These committees supervise the business, operational, and financial aspects of Bud APAC with support from the Executive Committee.

    The Board has a balanced composition of Executive and Non-Executive Directors. The Board is currently comprised of seven Directors.

  • Sustainability Committee

    The integration of sustainability at the highest level of management at Bud APAC enables strategic oversight of environmental and social issues for long-term value creation. The cross-departmental Sustainability Committee reports directly to the CEO and Co-Chair, which ultimately reports to the Board. It convenes meetings at least four times annually to discuss Bud APAC’s sustainability plans and community initiatives and review its performance. Throughout the year, the Sustainability Working Group updates the Committee on Bud APAC’s performance and gaps, as well as global and local sustainability trends.

    The cross-functional Sustainability Committee has a minimum of four meetings per year facilitated by the CEO and Co-Chair of the Board to discuss Bud APAC’s sustainability strategies and review performance in a timely manner.

    The committee presents its sustainability work to the full board members semiannually and to the Audit and Risk Committee quarterly. To achieve effective integration of sustainability throughout Bud APAC, a Sustainability Working Group is comprised of members across all departments and operational units to update the Sustainability Committee with target delivery, challenges, risk, opportunities and local sustainability trends.

The Duty

  • Our Board of Directors
    • Oversees and approves overall sustainability strategies
    • Reviews sustainability performance
  • CEO and Co-Chair of the Board of Directors
    • Oversees the Sustainability
    • Committee and all departmental managers
  • Sustainability Committee
    • Oversees sustainability initiatives internally and externally
    • Implements actions to achieve sustainability goals and targets
    • Drives sustainability performance internally and externally with suppliers
    • Oversees the Company’s compliance with relevant environmental and social laws, rules, regulations and standards
    • Identifies climate-related risks and opportunities with financial planning
  • Sustainability Working Group
    • Supports the implementation of sustainability initiatives and data collection
    • Provides timely sustainability updates for each department

  • Risk Committee

    Aiming to achieve our ambition to lead the industry, in Q1 2023, we evolved our Audit Committee to the Audit and Risk Committee, a leading measure for the Consumer-Packaged Goods (CPG) industry. We believe that increased focus on risk management will help us deliver more sustainable growth and support our strategy to lead and grow the category and optimize our business. Sustainability issues, including climate related topics, are considered in the risk management process by the Audit and Risk Committee. Our Audit and Risk Committee chair is an Independent Non-executive Director with extensive experience in financial and corporate risk management who helps drive the board agenda for risk management and internal controls.

    To support the Audit and Risk Committee’s risk management efforts, a management level Risk Committee was also introduced in Q1 2023. The Risk Committee adopts a cross functional approach to capture multiple views and expertise across key functions within Bud APAC. The Risk Committee is co-chaired by the Chief Financial Officer and the Chief Legal and Corporate Affairs Officer and comprised of various functional heads.

    The Risk Committee members meet as a group on a quarterly basis to synthesize and assess risks, as well as to make and implement risk related recommendations. As appropriate, the Co-Chairs will make recommendations to the CEO and Co-Chair of the Board and the Audit and Risk Committee on the risk appetite, profile and tolerance of Bud APAC.


    At the working level,internal audit teams are assigned to perform selected audits of operations of each business unit based on the annual Enterprise Risk Management (ERM) assessment results. We also undertook an independent appraisal of the effectiveness of the Company’s risk management framework, including an extensive benchmarking exercise against the relevant peer groups.


    Moreover, we invite an external third-party auditor to assure our carbon reduction, water footprint, packaging and health & safety data points annually with a standalone assurance report.

Ethics and Compliance Committee

We demonstrate our unwavering commitment to ethics and compliance through our actions. We adhere to all applicable laws and regulations without taking shortcuts, diligently identify and assess risks associated with our operations and employ suitable technology to implement control measures that minimize risk.


Under the direction of our CEO and Co-Chair of the Board of Directors, we have established an Ethics and Compliance Committee at the management level. This committee is led by our Chief Legal and Corporate Affairs Officer, who also holds a position on the Executive Committee of Bud APAC. The committee is responsible for monitoring the Company’s compliance with applicable laws and regulations to ensure that all business activities are ethically and legally compliant.


To ensure our values are upheld throughout the organization, we provide regular trainings to all employees and value chain partners on our Code of Business Conduct, including relevant policies and procedures. It is imperative that they fully comprehend our expectations regarding business ethics and transparency. Furthermore, we strive for excellence in corporate governance, with 100% of our Board and 100% of our management completing Code of Business Conduct and anti-corruption trainings in 2023.
  • Formulate and update the Company’s compliance policies and practices with prevailing statutory requirements, guidelines, regulations and best practices;
  • Exercise general management oversight on compliance with the Company’s internal policies;
  • Investigate alleged cases (including whistleblower cases) and determine disciplinary actions if the cases are substantiated;Investigate alleged cases(including whistleblower cases) and determine disciplinary actions if the cases are substantiated;and
  • Develop and promote the Company’s compliance values and culture with regular trainings, tone from the top messages and courses to raise the compliance awareness of employees and external parties.

  • Materiality Assessment

    Stakeholder Engagement Approach


    In response to a dynamic market landscape and evolving stakeholder expectations, we want to future-proof our company by effectively identifying risks and opportunities, addressing stakeholder interests, and making well-informed decisions.


    We engaged external consultants to conduct a thorough materiality assessment. This assessment enabled us to pinpoint the topics that hold significance for our organization, guide our prioritization of various sustainability aspects, and inform our strategic planning for the future. In 2023, a total of 184 stakeholders were engaged via the stakeholder engagement survey and 18 deep-dive interviews with internal and external stakeholders were conducted.

  • Materiality Matrix 2023
    This chart illustrates how our Sustainability topics align with the priority areas, and the level of materiality of each topic.
    First-tier Sustainability topics
    Topics with high priority for us to address and integrate into our sustainability strategy
    Second tier Sustainability topics
    Topics with moderate priority to address in the near future
    Third tier Sustainability topics

    Topics with relatively lower priority to keep in view and reassess


Our Initiatives to the Top Material Topics

  • Food Safety and Product Quality
    • Bud APAC implements a Food Safety Policy to cultivate a robust food safety culture within its operations.
    • Successfully organized the “World Food Safety Day” with over 6,000 participants in attendance.
    • Hosted the 2023 APAC Food Safety Competition with the active participation of more than 2,000 staff members.
    • Committed to delivering high-quality and safe products to consumers, Bud APAC has adopted and implemented the Operations Management Systems (OMS), Voyager Plant Optimisation (VPO), and Distribution Process Optimisation (DPO) for our operations in APAC which cover whole process from seed to sip.
    • Bud APAC’s quality and food safety management system were widely acknowledged by local governments, earning 30 national, provincial, municipal and district awards in China.
    • Employed online instruments with intelligent sensors for real-time monitoring to ensure effective quality management throughout the production process.

  • Sustainable Agriculture
    • Conducted comprehensive soil assessments to evaluate nature-related risks and understand the impacts and dependencies on natural resources.
    • Avoided sourcing ingredients or operating in designated World Heritage Sites and protected areas.
    • Promoted ecosystem restoration through local regenerative practices, farmer education, and operational optimization.
    • Minimized habitat disturbance, degradation, and indirect impacts from operations and supply chain.
    • Increased biodiversity awareness among stakeholders, including employees and local communities.

  • Packaging Strategy
    • Assessed waste generation and landfill diversion to identify reduction opportunities and promote circularity.
    • Invested in the circular packaging solutions and practiced green procurement to minimize waste by eliminating single-use supplies and collaborating with suppliers.
    • Enhanced processes to maximize reuse and recycling of packaging and materials, aiming to reduce waste.
    • Implemented “Zero Waste” strategies in China and India to treat and repurpose waste materials.

  • Carbon Emissions
    • Made steady progress towards meeting our 2025 Climate Action goals, further reducing our scope 1 & 2 emissions.
    • Implemented the Scope 3 reduction program among Supplier Strategic Alliance (SSA) to actively support our suppliers for their low carbon transition.
    • Accelerated RE100 coverage and deployed sustainable innovations in our breweries and further developed green logistic solution.
Sustainability Ratings, Key Awards & Certifications
1The use by Bud APAC of any MSCI Sustainability RESEARCH LLC or its affiliates (MSCI) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of the Company by MSCI.

Our Policies

We have a robust set of policies, which outlines our ESG commitments and guidelines in our daily operations.
Our Approach to Ethics and Transparency

Disclosure Items: GRI 205; HKEX B4, B7


Policy Expectations
Code of Business Conduct All employees are expected to consistently uphold the highest level of business integrity and ethical conduct.
Anti-Corruption Policy All directors, employees, suppliers and business partners must comply with all laws concerning bribery, corruption, and conflicts of interest.
Anti-Money Laundering and International Trade Compliance Policy All employees should be aware of the list of activities that require prior approval from the Legal team or the Compliance team and the required procedures consistent with the ethics and compliance guidelines.
Conflict of Interest Policy All directors and employees must disclose any interests that might conflict, or appear to conflict, with the interests of Bud APAC.
Whistleblowing Policy Employees and others are encouraged to report any suspicions of bribery or unethical business practices.
Responsible Marketing and Communications Code To safeguard our consumers’ well-being, uphold our company’s reputation, and ensure our commercial communications are conducted responsibly.
Human Rights Policy We acknowledge our obligation to provide a work environment that is safe, environmentally sound, and devoid of any harassment or discrimination for not only our employees but also for temporary workers and independent contractors.
  • Training
    We conduct training sessions on various business ethics and compliance including human rights-related topics. These include sexual harassment prevention, disability awareness, workplace bullying prevention, personal data protection and safety enhancements.
    In 2023, colleagues across all our markets have participated in our annual training. The training focused on topics such as conflict of interest, digital ethics, anti-harassment, and our Code of Business Conduct.

  • BrewRIGHT
    To ensure the highest levels of integrity and compliance, we utilize BrewRIGHT, a cutting-edge analytics platform. Our compliance data analytics and management platform, BrewRIGHT, works to aggregate, standardize and visualize company systems to identify patterns in everyday operations to predict and attempt to identify any potential corruption risks within the company.

  • Grievance Mechanisms and Non-Retaliation
    In line with our ethics values and compliance regulation, any violations must be reported through Bud APAC’s compliance helpline. We strictly enforce a policy of zero tolerance towards any form of retaliation against individuals reporting violations.

  • External Audit for Anti-Corruption Policy and Business Ethics
    We engaged an external auditor to perform a comprehensive sustainability compliance review for all Business Units (BUs) annually. The assessment specifically focused on evaluating the compliance status of our Anti-Corruption Policy within these BUs. Through a thorough examination of documents and interviews, it was confirmed that all BUs under Bud APAC diligently adhered to our Anti-Corruption policy and fully upheld our commitments to comply with our Sustainability Policies.

Our Approach to Data Governance

Disclosure Items: GRI 418; HKEX B6


Policy and Procedure Expectations
Privacy Policy This policy governs all types of customer data. Adherence to data security is a key component in evaluating employee performance. Employees who breached data security protocols are subject to disciplinary measures.
Information & Cyber Security Incident Response Plan To address information and cyber security incidents particularly on personal data, this plan outlines procedures for consistent detection and management of such incidents. It also ensures that enhancements and corrective measures are executed to prevent future occurrences.
Data Breach Incident Management Standards Developed and periodically updated by the Personal Information Protection Group, this set of Standards guides the management of data breach incidents. A Data Breach Response Team is formed by business and data owners, IT heads, and the Personal Information Protection Group. Their responsibilities include identifying, responding to,processing, recovering from, and reporting on data breaches.
Personal Information Security Impact Assessment Standards Based on China’s personal information protection compliance requirements, this set of Standards assists Bud China in conducting personal information impact assessments and risk management. The Personal Information Protection Group advises on risk mitigation strategies varying from immediate to time-bound remediation, or remediation after evaluating impact and costs. The project owner is responsible for implementing measures in line with these recommendations and complying with Bud China’s requirements and relevant legal regulations.
Masking Requirements of Personal Information Display in Application Development Introduced in 2023, the standard mandates the appropriate masking (de-identification) of personal information displayed in application development, aligning with the relevant laws and regulations in Mainland China.

Data Management

A director with IT expertise is on our Board, contributing to the cybersecurity strategy. Additionally, our Vice President of Technology and Analytics, the Director of Technology and Analytics, and the APAC InfoSecurity & Compliance Lead oversee and manage the cybersecurity strategy and implementation.


We have implemented routine monitoring through a dashboard on our data management platform. This allows for real-time tracking of direct sourcing data quality, facilitating data accuracy corrections as needed. Changes are made when discrepancies are identified, enhancing the accuracy of our direct sourcing data. We established the Personal Information Protection Group (PIPG) to further enhance our data protection strategies. The group is comprised of members from security, legal, and compliance. It is responsible for implementing data security processes and training, regularly reviewing national regulations and taking appropriate actions. Recognising the critical importance of data security and privacy, we have also revised and enhanced our policy framework to ensure robust personal information protection and effective management of cybersecurity risks.


  • Data Compliance
    Safeguarding data against unauthorised access, malware, and cyber threats.
  • Platform Guidance
    Providing documentation for users to understand current data and identify suitable data sets for analysis.
  • Data Access Control
    Ensuring a robust and secure data access flow following documentation.
  • Data Quality Monitoring
    For authorised users,continuous monitoring of data quality is crucial for reducing risks and gaining valuable business insights.
  • Data Security Training
    We deliver data protection and information security training via the internal platform to all employees, circulate regular data security updates, and send phishing test emails, to raise awareness.