Foster a culture that is accessible,
inclusive and safe

To drive forward our diversity and inclusion agenda, we have a strategic framework translating our commitment to diversity and inclusion into action. This framework includes three overarching goals, five key focus areas, and six pillars. These encompass critical aspects including promoting employee engagement, attracting and managing talent, fostering an inclusive culture, measuring our progress, and sharing our achievements externally.

As of the end of 2023, women fill 32% of all management positions and 28% of Strategic Leader roles. 31% of our directors are women.

Gender pay gap refers to the difference between the mean basic pay for men and women, expressed as a percentage of men’s average earnings. It is calculated by subtracting the average female salary from the average male salary and then dividing it by the average male salary.

As of the end of 2023, the overall gender pay gap was -6%, indicating that women received, on average, 94% of the pay earned by men. Women in strategic leadership positions received 97% of the average pay earned by men in such positions. Women in operational management roles received 108% of the average pay earned by their male counterparts. The corresponding percentages for team leaders and individual contributors (non-management) were 107% and 83%, respectively. We will continue to refine our methodology to calculate gender pay gap to reflect international practices.

Although we ensure equal pay for men and women in the same roles, the existence of a gender pay gap emphasises the importance of taking further action to support and empower women in their career advancement. To address this, we place significant emphasis on fostering diversity, equity, and inclusion at every stage of the employee life cycle.

Swire Pacific is dedicated to fostering an inclusive workplace where all employees can thrive and succeed, regardless of their age, gender, gender identity, disability, ethnicity, or sexual orientation.

Our second D&I Survey, conducted late in 2022, gathered feedback from all Group employees based in Hong Kong. It was entirely voluntary and anonymous to participate. Overall, our average score for inclusion increased by 7% compared to the previous year. The information gathered is used as a reference for further action planning as we look to cultivate an even more inclusive workplace. We plan to conduct another employee insights survey in 2024.

Gender
We pledge to narrow the gender gap at all levels and to ensure that gender barriers and biases are eliminated.

We recognise the significance of women’s empowerment in driving gender diversity, equity and inclusion within our workplace. In 2023, we launched a comprehensive range of initiatives aimed at dismantling barriers and biases that have hindered women’s full participation in the workforce, ensuring women have equal access to opportunities for career growth, skill development, and leadership positions.

Swire Coca-Cola is currently engaged in an ongoing project with the Ministry of Women’s Affairs of Cambodia, which centres on women’s leadership development and women entrepreneurship. Through participation in training sessions, workshops, and seminars, our employees in Cambodia gain valuable knowledge and insights related to the topics. Swire Properties partnered with the Taikoo Women’s Inspire Network to organise a mentoring programme focusing on supporting emerging female leaders, particularly those with management experience who hope to progress to a leadership position. By providing equal opportunities, support, and resources, we enable women to advance their careers and reach their full potential.

We actively showcase our collective commitment to gender equity through the organisation of internal events and collaborations with organisations focused on promoting gender equity on relevant gender-related international days. The Swire Women’s Network organised an event in celebration of International Women’s Day, where leaders and representatives from across the Group exchanged best practices on how to promote equity in the workplace, shared personal experiences with privilege and inequity, and emphasised our individual responsibility in DE&I. Additionally, the Gender Equity Network from Cathay Pacific hosted a Mother’s Day event, inviting working mothers at Cathay to discuss their experiences, challenges, and successes in balancing their careers and motherhood.

By implementing these initiatives and engaging in collaborative efforts, we strive to cultivate a workplace that values and promotes gender equity, empowering women to thrive and contribute to their fullest potential.

In 2024, we will establish a comprehensive multi-year roadmap, which is based on the insights and benchmarks derived from the DEIB assessment, to enhance diversity, equity, inclusion, and belonging (DEIB) across all our operating companies. It will cover various aspects of the employee lifecycle and address the workplace factors that significantly influence DE&I. At the Group level, we will identify specific areas of DEIB focus and themes that go beyond the individual roadmap for each operating company.

The Group DE&I team will collaborate closely with each operating company to design a multi-year implementation roadmap. This collaboration will directly support our ambitions while fostering a diverse and inclusive work environment.

We remain committed to leveraging data-driven approaches and employing social research methodologies to strengthen Swire Pacific’s capacity in integrating DEIB principles into our day-to-day business operations and enhancing workplace experiences.

Health and safety is a top priority for Swire as we strive towards our aspirational goal of achieving zero harm. This objective underpins our philosophy to health and safety management.

We aim to conduct our operations in a manner which safeguards the health and safety of our employees, contractors, suppliers, customers, the visitors to our business premises and the communities in which we operate. Protecting our workforce is fundamental to our businesses achieving their long-term success and sustainability.

The group, and each of its subsidiaries, has an occupational health and safety policy that is monitored by our internal audit department.

We focus on the following key areas:

At the Group level, our aspirational goal is to achieve zero harm. Swire Coca-Cola, Swire Properties and HAECO have set health and safety related targets to reduce injury rates. Swire Coca-Cola, Swire Properties have set targets to maintain zero fatalities.

We use two metrics to evaluate safety performance:

• Lost time injury rates (LTIR): the number of injuries per 100 full-time equivalent employees¹
• Lost day rates (LDR): the number of work days lost to injuries per 100 full-time equivalent employees

In 2023, our LTIR increased by 14% to 0.48 from 0.42 in 2022 and LDR increased by 3% to 19.5. Significant improvements were observed at Swire Properties and Trading & Industrial division. Total hours worked in the group increased by 4% in 2023.

Regrettably there was an employee fatality at Swire Waste Management Limited in 2023. Following full investigation, enhanced mitigation measures were implemented.

^{1. Number of lost scheduled working days per 100 employees per year [calculated by number of lost-time injuries/number of hours worked multiplied by 200,000]}

We expect our contractors to observe high safety standards and centrally track contractor safety data to facilitate continual improvement. Regrettably, there was one work-related fatal traffic accident of a contracted worker in Swire Coca-Cola’s Vietnam operations. Following thorough investigations Swire Coca-Cola has enhanced its third-party logistics contractor safety management protocols.

Our Zero Harm commitment requires everyone, regardless of seniority or job responsibilities, to go beyond compliance, proactively eliminate potential hazards, and create a safe workplace. Health and safety reviews are conducted at our operating companies and results reported to the Audit Committee. Division heads have pay-linked safety performance objectives.

Swire Properties, Swire Coca-Cola, HAECO, Swire Waste Management, and Taikoo Sugar have safety management systems that are certified to the stringent ISO 45001:2018 standard.

The significant incident investigation framework, HAECO Investigation Process (HIP), was introduced to facilitate efficient adaptation across all HAECO entities. The new framework was designed to expedite learning, as well as risk and change management. The HIP was assessed as a case study at the world’s foremost authority in benchmarking, best practices, process and performance improvement in the USA and passed benchmarks for industry best practices. The HIP encourages formation of a diverse and independent investigation team of HAECO’s dedicated staff, bringing together strengthened and simplified solutions, which can be adopted more effectively with significant improvement in reporting quality.

Swire Coca-Cola and Swire Properties have enhanced their reporting tools (online and mobile apps) to encourage and facilitate safety related incidents reporting and to further promote safety reporting culture.

HAECO continued to use Behaviour-based Safety Observation (BBSO) to identify and address unsafe acts and to embed safety into day-to-day operations.

Swire Properties launched a Deep Dive Safety Inspection Programme across its operations to identify and address potentially serious hazards and to raise safety awareness. Design for Safety was also included into its Development Charter as a preventative strategy to remove hazards before they are introduced to the workplace via adoption of safe design principles. Design for Safety is a safety requirement for new projects and major alteration works.

We have a crisis reporting policy and crisis management guidelines, which help to build business resilience through crisis preparedness, business continuity, and disaster recovery planning. Reporting and information exchanges within the Group have improved, facilitating a faster response and recovery.

We care about the mental and physical health and wellbeing of our people. We have 24-hour professional personal counselling and consultation (PPCC) hotlines to help employees deal with stress, relationships, parenting, trauma or grief, and preparation for retirement. We use experienced counsellors, social workers, and clinical psychologists to provide confidential professional advice and guidance. We promote work-life balance and encourage employees to lead active lifestyles by participating in our staff association’s physical wellbeing programmes.

Many of our businesses ran campaigns to promote employee wellbeing and to help our people feel more connected to the company and to each other.

We will continue to promote across the Group a proactive and preventative health and safety strategy with a structured approach to post incident investigation and in-depth analysis of the root causes of incidents. We will maintain our focus on contractor safety performance which we see as integral to the overall safety of our businesses. Where appropriate we will look for more opportunities to adopt technology which helps us eliminate risks and improve our overall health and safety performance. We will continue to monitor and assess emerging health and safety risks through the Human Resources and Health and Safety risk forum.