Pandox is of the opinion that well-managed sustainability risks can become tomorrow’s competitive advantages. Pandox works continually to identify, evaluate and manage sustainability risk as part of the Company’s overall risk management process.
|Environment||Pandox impacts the environment through the use of energy, water, chemicals andmaterials, and generates emissions and waste. A deterioration in the physical environment may negatively impact people in and around our hotels, as well as the properties, which could result in increased costs and a need for investments.|
|Climate change||Extreme weather and floods could damage the properties. Higher temperatures andmore heatwaves could result in water shortages. Scarcity of natural resources couldresult in increased costs for materials and energy. The transformation of society couldresult in reduced international travel but greater regional travel, thereby creating newbusiness opportunities.|
|Human rights||Failures in the supply chain and in the operations could result in infringement of|
human rights. In the property sector there is a risk of illegal labour and wage dumping;
in the hotel industry, the main risk is of trafficking and prostitution in and around the
|The risk that Pandox may be seen as an unattractive employer and find it difficult to|
retain existing staff and to recruit new employees.
Dissatisfied employees could have a negative effect on the Company, hotel guests and
business partners, which is an operational risk.
|Health and safety||In the hotel industry there are health and safety risks due to heavy lifting as well as|
slips, trips and falls, a risk of suffering burns and cuts, and risks relating to threats. Fires
are another safety risk. Failures in health and safety procedures could result in injuries
and ill-health among staff, guests and suppliers.
|Anti-corruption||Pandox has zero tolerance for corruption. Nonetheless, there is a risk of corruption in|
connection with, for example, sourcing of goods and services, bribery and partiality
when signing agreements, and a risk of internal irregularities.
|Data security||The risk that failures in data security and data processing could breach customers’|
privacy. The risk of falling victim to cybercrime is also increasing in society in general.
Pandox has a Code of Conduct for business partners which describes the expectations that Pandox has of its suppliers regarding human rights, labour, the environment and anti-corruption.