Our Value Creation process for the past two years involves the translation of our mission to a unique business strategy per subsidiary which informs how their capitals (financial, manufactured, intellectual, natural, human, and social and relationships) are transformed into responsible products and services.
The FPH mission goes beyond the business fence. Independent of the nature of their businesses, the subsidiaries generate values not only for the enterprise but also for planet and society. We go beyond zero harm or sustainability and we contribute to the restoration of the places where we are nested in, consisting of our workplace, project sites, and host communities. Lastly, we aim for the regeneration of our projects by assisting in the realization of the potential of the environment and people in our sites.
FPH's Value Creation Process
INTEGRATION PROCESS
Today we are facing increasingly complex and interconnected issues that will determine the health of our planet, economy and society. To avoid disruptions from these concerns, we need a more integrated system of running our business. This recognition of the dire situation led us to conduct a deeper integration of our corporate processes. A parallel consideration was the unification of ESG global and local regulations in 2023 to attend to the buildup of systemic and interconnected ESG threats that have become existential.
In 2022, we started the journey of integrating the FPH mission into our operations to ensure that time and resources are allocated to ESG. Coming through 2023, by studying the integration strategy in more detail and probing into their interdependencies, we are developing a streamlined process among corporate functions with convergent and connected responsibilities, namely strategy planning, risk management, and ESG management. The result is the FPH Integrated Management Framework (IMF) to establish a risk-based decision-making and strategy driven resource allocation. The IMF unifies our rationale and policies over management processes that allow us to better pursue our decarbonization and regenerations strategy.
The resulting relationships of these functions are shown in the figure on the right. The plan is for further refinement in 2024.
Evolving Integrated Management Framework in FPH
