Sustianability at Osotspa

Osotspa's focus on sustainability revolves around three core pillars: enhancing quality of life, sharing economic opportunities, and reducing environmental impacts throughout its value chain. The Company believes these lay a solid foundation for resilient business growth while readying the Company for new challenges and opportunities amid a more volatile business environment. The Company considers its employees to be an overall driving force for sustainability, forming the fourth pillar of its sustainability framework.

Framework for Sustainability

Vision for Sustainability

"Enhancing Sustainable Living"

is a commitment to enhancing the quality of life, sharing economic opportunities and reducing environmental impacts throughout our value chain

Sustainable Product Brands
Sustainable Organization

Enhancing the quality of life

Promoting health & well-being through our products

  • Offering products made with high quality ingredients/natural & organic ingredients
  • Promoting health & well-being for all consumer segments
  • Supporting the fighting spirits of all Thais

Promoting equal opportunities and supporting disadvantaged people and communities.

Sharing economic opportunities for long term growth

Providing safe and high-quality products that meet diverse consumer needs, enhance economic values through product innovations, develop SME suppliers and partners to grow their business together with Osotspa

  • Support small-scale herb farmers
  • Communicate OSP Code of Conduct and Sustainability (ESG) values

Create an ecosystem to improve competitiveness of mom & pop's stores with digital technology & know-how.

Reducing environmental impacts throughout our value chain

Implement the 3Rs' Principles: Reduce, Reuse, Recycle, to our business: 

  • Reduce water and energy consumption, waste generated per unit output
  • Control air emissions from manufacturing process, as well as greenhouse gas intensity (Scope 1 and Scope 2)
  • Maintain high glass/cullet recycling rate

Reduce impact from waste through innovative packaging solutions.

Cultivating sustainability mindset among all employees
  • Good governance and transparency
  • Creating a better workplace
  • Encouraging sustainable lifestyle, from our people to society

Stakeholder Engagement

Osotspa categorizes stakeholders into six groups. We address stakeholder expectations through a variety
of channels of engagement, taking into account appropriateness and benefits for stakeholders.

Stakeholders
Shareholders
Stakeholder Expectations
  • Commit to corporate governance
  • Protect the interest of the Company and shareholders
  • Treat shareholders equally and fairly
  • Strive to maximize shareholder satisfaction through growth in the Company value
  • Disclose information transparently and reliably
Channels of Engagement
  • Company website (https://www.osotspa.com) Investor Relations Section
  • Annual Report (available on website) 
  • Annual General Meeting
  • Quarterly financial reports
Stakeholders
Customers
Stakeholder Expectations
  • Provide quality products and services while continuing to improve the standards
  • Disclose complete and accurate information on products and services as per legal requirements and avoid false claims 
  • Do not disclose confidential customer information without consent or without legal grounds
Channels of Engagement
  • Company website (https://www.osotspa.com) 
  • Annual Report (available on website) 
  • Meetings, conferences, inspections and factory visits
  • Annual survey 
  • Complaint channels
Stakeholders
Business Partners
and Lenders
Stakeholder Expectations
  • Any business relationship with business partners must not harm the Company's reputation and must be lawful
  • Consider equality and mutual benefits when dealing with business partners
  • Fair selection of business partners 
  • Commit to the contract and follow lender's conditions on paying back loan principal, interest, and any collateral
Channels of Engagement
  • Company website (https://www.osotspa.com) 
  • Annual Report (available on website) 
  • Meetings, conferences, inspections and factory visits
  • Annual audits 
  • Telephone, emails
  • Complaint channels
Stakeholders
Society, Community,
and Environment
Stakeholder Expectations
  • Organize projects and activities for community and society development on a regular basis
  • Support activities that benefit society at large and refrain from any violation of laws 
  • Support activities in the local community in which the Company operates by emphasizing environmental impacts
  • Adhere to a policy to provide products and services which are environmentally-friendly and comply with environmental laws
  • Sponsor activities that contribute to energy and environment conservation and follow a policy to select and support the production and use of environmental friendly products
Channels of Engagement
  • Company website (https://www.osotspa.com/)
  • Annual Report (available on website)
  • Meetings, conferences, inspections and factory visits
  • Annual audits 
  • Telephone, emails 
  • Complaint channels
Stakeholders
Employees
Stakeholder Expectations
  • Develop employee skills and foster a healthy working environment
  • Promote teamwork, treat employees in a polite manner, and respect individual rights
Channels of Engagement
  • Company website (https://www.osotspa.com/)
  • Annual Report (available on website) 
  • Quarterly Town Hall 
  • Intranet, OSP Life Mobile Application
  • Annual performance evaluation (twice yearly)
  • EES Pulse Survey and annual employee satisfaction survey
  • Welfare Committee meetings
Stakeholders
Competitors
Stakeholder Expectations
  • Conduct business operations with consideration of fair competition in accordance with relevant laws and regulations and refrain from unethical acts aimed at destroying competitors
  • Adhere to a policy that prohibits unlawful and unethical collection of information about competitors
Channels of Engagement
  • Company website (https://www.osotspa.com) 
  • Annual Report (available on website)

Material Issues Assessment

The Company conducted a formal assessment of the material sustainability issues to identiy key economic, social, environmental and human capital topics of interest for stakeholders which have high potential to impact business performance. Upon conclusion of the assessment, the findings were validated by the Board-level Nomination, Remuneration, and Corporate Governance Committee (NRC), and subsequently endorsed by the Board of Directors.

The Company has identified 12 material sustainability issues and prioritized these by 3 levels of significance, as follows:

Policies and information

Code of Conduct More Detail >>
Anti-Corruption Policy
Gift & Entertainment Policy
Procurement Policy
Tax Policy
Human Rights Policy
GRI Data Tables