In support of Singapore’s commitment to achieving its 2030 Green Plan, more and more companies are making their business decisions based on Environmental, Social, and Governance (ESG) factors.
One company that is doing its part to the green movement is leading regional business enabler, Audience Analytics (SGX Code: 1AZ). Listed on the Catalist board of the Singapore Exchange Securities Trading (SGX-ST) since September 2021, Audience Analytics, through its wide portfolio of awards, exhibitions, conferences, digital and print media, and business analytics, helps businesses in multiple sectors understand their businesses, make better decisions, promote, and partner to grow their businesses.
Here are 5 things to understand about Audience Analytics’ ESG efforts.
ESG relates to Environment, Social, and Governance. Which of these three pillars does the Group focus more on and why?
AAL places a strong emphasis on the social pillar of a company’s impact, which includes its effect on employees, customers, communities, and broader societal issues. The factors that are considered are employee rights, community involvement, and quality assurance of services. The Group focuses on this critical area as it operates in the services sector where direct interactions with consumers are of utmost importance for the business.
What is the Group’s sustainability approach and how has it been integrated into its business operations?
Our commitment to sustainability is reflected in our robust corporate governance practices, which are aligned with industry regulations, and uphold the highest ethical standards. Our Board and management actively manage EESG (Economic, Environmental, Social, Governance)-related risks and opportunities.
We also actively engage with our shareholders and stakeholders on a transparent basis, seeking their input and considering their interests. Compliance with all applicable laws across our operations remains one of our highest priorities.
Has the Group’s commitment to ESG influenced its bottom line or competitiveness? If so, what are some of the biggest challenges the Group sees in its commitment to ESG?
The Group is strongly committed to ESG, which may attract more customers and investors. This can lead to increased revenue and access to capital, as many consumers and investors are increasingly prioritising ESG factors. The Group has benefited from cost reduction by successfully transitioning from traditional printed materials to digital formats, such as e-magazines, e-winner booklets, and other paperless alternatives.
Collecting data and reporting ESG performance can be time-consuming and require effective communication and collaboration with a wide range of stakeholders, including employees, customers, and communities. The Group has faced challenges in measuring and consistently disclosing its ESG performance.
What are some of the key material ESG factors for Audience Analytics and how did the Group identify these factors?
We have engaged external consultants to help assess relevant EESG factors through continued monitoring of our business environment, stakeholder feedback, and identifying emerging sustainability trends.
Economic Performance: In FY2022, we achieved growth in revenue and net profit while expanding regionally by introducing the HR Asia Awards in India. Our targets include meeting revenue goals and extending business segments into new geographical markets.
Employment: We aim to create a workplace conducive to employees’ productivity and work-life balance, with goals including staff retention, hiring more talent, and reducing turnover rates.
Training and Education: In FY2022, the average training hours rose. We aim to expand training opportunities and develop training modules.
Optimising Resource Usage: We have reduced the usage of printed materials from our activities. In FY2022, we’ve replaced printed copies of winner books with online profiles, in line with our long-term goal to transition to paperless operations and work towards digitalisation.
Protection of Intellectual Property (IP): Safeguarding our IP and brand integrity is crucial. In FY2022, we have had zero incidents of non-compliance with IP laws and successfully acquired IP rights for the Golden Bull Award. Future targets include registering trademarks in local markets and maintaining compliance with IP laws and trademark related matters.
Focusing on the print media arm of the business, how does Audience Analytics navigate sustainability trends of moving away from print media?
▪ The Digitalisation of Publications has led to estimated savings of over 5 million sheets of paper each year.
– Replacing printed copies of winner books for their business awards with Online Winner Profiles has reduced 1.5 million sheets of paper.
▪ Sustainable Event Management
– Eco-Friendly Alternatives: Audience Analytics directs its clients towards sustainable event management practices by offering them eco-friendly, digital alternatives to standard hard-copy event collaterals.
▪ Environmental Impact
– Reduced Paper Usage: The company has substantially decreased paper usage as part of its ongoing efforts to reduce its environmental footprint.
▪ Future Goals
– Further Reduction: Audience Analytics aims to reduce paper consumption in the years to come as part of its digitalisation journey.
Editor’s Note: Some answers for this article were extracted from the SGX 5 in 5 series published on 24 October 2023 and have been republished with permission. You can read more on Audience Analytics (SGX Code: 1AZ) the SGX website.
The post 5 Things To Know About Audience Analytics (SGX Code: 1AZ), The Company Behind Media Publications Like HR Asia, SME Asia, And Capital Asia appeared first on DollarsAndSense.sg.
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