DIMO affirms its commitment to responsible entrepreneurship by winning at ACCA Sustainability Reporting Awards
Sri Lanka’s leading conglomerate Diesel & Motor Engineering PLC (DIMO) was once again recognized as a company that excels in sustainability reporting as it bagged the Overall Runner-up award at the ACCA Sustainability Reporting Awards 2018 held recently. Achieving another milestone, DIMO was acclaimed as the winner in the “Retail & Trading” Category and the Runner-up in “Best Biodiversity Project 2018” for DIMO Turtle Conservation Project.
These awards epitomize DIMO’s commitment towards sustainable development and responsible entrepreneurship. Their SA 8000 accredited social accountability management system, which they have implemented voluntarily, further amplifies their commitment. ACCA recognized the mandate of DIMO to ‘Create Value Responsibility’ through its unique Annual Report and acknowledged DIMO’s excellence in visually depicting key elements such as corporate strategy, supply chain activities and stakeholder issues using clear, easy-to-understand diagrams. It was also acknowledged that key elements such as sustainability performance objectives, relationship capital, natural capital, contribution to Sustainable Development Goals and environmental impacts were well articulated, while the overall concise nature of the report encouraged reading.The ACCA lauded DIMO for its reduction in carbon footprint and stated how the managing of risks and detecting opportunities shows the forward thinking ability of the management.
Chairman & Managing Director of DIMO, Ranjith Pandithage commented, “We are delighted to be honored in our attempts to process a transparent and credible annual report through accolades of prominence such as ACCA Sustainability Awards. DIMO has institutionalized responsible behaviour through the implementation of management systems that incorporate the management of economic, social and environmental impacts arising from their value creation process. This felicitation is evidence to our transparency and affirms our company as a responsible corporate citizen.”
He added that the company is resolute in continuing to promote sustainable development. “From our statement of purpose to our code of ethics, we uphold our commitment to act responsibly towards our stakeholders and the environment. We will maximise the positive economic, environmental and societal impacts that we make during our business activities, whilst carefully managing negative impacts to the environment,” he added.
DIMO’s Annual Report 2017/2018 emphasized on ‘being the change’ and playing a part in driving such change in the nation in future, while creating sustainable value that benefits everyone. DIMO’s commitment to partner sustainable development is reflected in its statement of Purpose; “Create value responsibly”. Responsible behavior for DIMO is not a mere “license to operate” but a part of its differentiation strategy. Such corporate philosophy has been projected through its sustainable reporting, which rationalizes their continuous winning streakat the ACCA Sustainability Reporting Awards since its inauguration.
Any business organization brings about economic, social and environmental impacts through its value creation activities. Minimizing negative impacts and maximizing positive impacts has become a perquisite to ensure the sustenance of any organization in the contemporary world. Therefore, communicating how they have put this mandate into practice has become an equally important aspect in the corporate world. A sustainability report is thus the key platform for organizations to communicate systems, processes and policies established to manage their economic, social and environmental impacts and how they have been managing negative and positive impacts generated throughout their value chain.
ACCA Sustainability Reporting Awards has been facilitating corporations who provide comprehensive, credible and transparent analysis of their social, economic and environmental impact. As a result, it is considered to be among the most prestigious awards open to the Sri Lankan corporate sector. ACCA Sri Lanka Awards for Sustainability Reporting therefore is in the forefront of reinstating all organizations on their impact and accountability on the environment and society, be it direct or indirect.
As the nation’s premier supplier of automobiles and automobile solutions, Diesel & Motor Engineering PLC (DIMO) has always been a cut above the rest when it comes to identifying the needs of the community. Consequently, DIMO adds value to the world’s most sought after and best-engineered brands through its local strengths and capabilities. Founded in 1939 as a purely automobile sales and repair concern, DIMO has since grown as well as in scope of activities. DIMO currently has over 1,750 employees as at March 2019, with an annual turnover of Rs. 38.3 Billion (2018/2019).