Principles of sustainable corporate governance
In 2022 Masterplast Nyrt. became a member of BCSDH — the Business Council for Sustainable Development in Hungary.
BCSDH is a community of companies committed to sustainable development, working together to accelerate the transformation of the systems needed for a climate-neutral, nature-positive and more equitable future. Masterplast endorses and applies BCSDH's principles of sustainable corporate management.
We believe that the key to a company's long-term success is a leadership and management team that understands sustainable development and is able to interpret it comprehensively when making decisions. The purpose of the guidelines was to set out principles that give business leaders in Hungary a point of reference in this respect.
Strategic approach
The management of a company that interprets the sustainability of market operations in a complex way defines its business strategy by integrating long-term, value-creating economic, environmental and social aspects and provides the resources necessary for implementing such a strategy.
Responsible management
An executive from the company's top management level is appointed to be responsible for its sustainability performance. All members of management, at every level, are individually responsible for promoting the sustainable operation of the company. The executive incentive scheme includes environmental, social and economic goals.
Ethical operations
The company operates in a way that respects the law and ethical standards. The expected behaviour is recorded in writing, resources are provided for implementation and enforcement, and the policy is extended to cover all stakeholders.
Respect for human values
The company considers the protection of human life and safety, equality and the right to a healthy environment and mental health to be fundamental values and takes them into consideration when business decisions are made, in accordance with the United Nations Guiding Principles on Business and Human Rights.
Environmental responsibility
The life cycle approach, economic profit and environmental impact inform decisions made by the company. In addition, the company is committed to environmental sustainability and extends this responsibility to the entire supply chain (suppliers, partners and customers), particularly regarding net-zero emissions targets and the protection of biodiversity.
Partnership with stakeholders
The company cooperates with its stakeholders and strives for open bilateral communication. When stakeholders are impacted by its operations, the company aims to create mutual satisfaction and long-term cooperation and partnerships. It sets an example by leveraging its size and position. When selecting its business partners, it considers and prioritises sustainability factors. The company endeavours to integrate the sustainability principles of regulatory processes and policies into its operations through professional organizations and extensive forms of cooperation.
Transparent operations
The company collects and makes available reliable data and information about its activities and economic, environmental and social impact and performance on an ongoing basis. The company communicates with and informs its partners regularly and credibly.