Human rights risk management has been incorporated into the Company s 3+1 pillar strategy to improve efficiency and business continuity throughout its supply chain.
This represents the company s commitment to improving the quality of life for all stakeholders, including employees, partners, contractors, business partners,
joint ventures; and other business partners, including from new mergers and
acquisitions to customers, consumers; and communities involved,
vulnerable groups such as pregnant women, LGBTQI+ people, elderly individuals, people with disabilities, migrant workers, third-party employees, indigenous peoples, and local communities
third-party employees, indigenous peoples, , and local communities who may be impacted by the
Company s operations and other business activities throughout the value chain.
The Company investigates and identifies human rights risks in order to ensure that those risks are properly managed
and stakeholders are treated appropriately.
A positive image for the organization, as well as the creation of a healthy workplace environment with happy employees
, leads to efficient work efficiency and sustainable business operations
Osotspa has therefore conducted Human Rights Due Diligence (HRDD)
a risk assessment process based on the UN Guiding Principles
on Business and Human Rights (UNGPS).
In addition, the Company has announced a human rights policy based on principles aligned with international human rights
standards, which includes
as Guidelines for Human Rights Risk Management
Osotspa has carried out a Human Rights Risk Assessment (HRRA). The scope of inspection and identification of relevant human rights issues has been determined for all factories and operating areas. The Osotspa Group has conducted the assessment every three years with the primary goal of identifying, preventing, and mitigating potential human rights risks through the implementation of corrective measures within the organization to the conduct of business activities throughout the supply chain to ensure that there is no violation of human rights and that potential risks are managed in a timely manner.
Osotspa conducts a human rights risk assessment by identifying and prioritizing each risk issue based on risk occurrence, severity, scope, and remedial capacity using a risk assessment table.
By implementing this guideline, the Company will be able to prioritize and manage human rights risks based on their severity. Issues with a high level of impact and likelihood of occurrence will be identified as high-risk, and the Company will manage to prevent the occurrence of these issues as soon as possible in order to reduce the risk severity and/or likelihood that may occur, as well as continuously monitoring the implementation s progress.
5 risk issues were discovered within the organization
and the following risk mitigation measures and mechanisms to prevent the impact of all risk issues were established:
Osotspa has established whistleblowing and reporting channels to enable all stakeholders and right holders involved in the value chain to report incidents of human rights violations or non-compliance with human rights policies. The identity of the whistleblower will be kept confidential throughout the investigation. The information obtained through these channels is critical for the audit and monitoring of the a company s effectiveness in terms of human rights management.
The information obtained through these channels will be used to develop and improve risk mitigation measures and mechanisms to prevent existing impacts, including the development of additional measures to address potential human rights issues. The Company is committed to conducting continuous audits to improve the efficiency of the Human Rights Due Diligence process.
To ensure transparency, the Company has also communicated its human rights performance through the Osotspa website, which is open to the public.
The affected rights holders can report and state the confidentiality of the information through one of the channels as follows:
Osotspa is committed to upholding the highest ethical business standards and recognizes the critical importance of human rights.As a result, the organization recognizes the importance of ongoing human rights risk assessments and has implemented additional measures to prevent and mitigate such risks. Furthermore, the Company is fully committed to monitoring and reporting performance in order to maximize the effectiveness of human rights management.
Osotspa regularly reviews its policy obligations and responds promptly to potential complaints or violations, with a focus on effective remedial measures for those affected. In the event that human rights violations occur, the Company is committed to taking immediate action, with a focus on the rehabilitation and remediation of affected rights holders, as well as compensation for any damages resulting from business activities. Such remedial measures may include appropriate forms of compensation (such as apology, compensation, financial or non-financial restitution) as well as penalties and proactive measures to prevent future damage.
Osotspa is proud to announce the establishment of its dedicated Human Rights Working Team*, a significant stride towards upholding the principles of the United Nations Guiding Principles on Business and Human Rights (UNGP). As a responsible corporate entity, Osotspa recognizes the paramount importance of comprehending and implementing international human rights standards throughout its entire value chain.
In line with this commitment, a comprehensive series of capacity-building programs has been carried out since February 2023. The Key Program Objectives is to:
1. Integration of HRDD Process: We are resolutely integrating the Human Rights Due Diligence (HRDD) process into every facet of our business and value chain. By doing so, we're embedding a culture of human rights considerations at the very core of our operations.
2. Understanding Human Rights and Right Holders: Empowerment begins with understanding. Our programs foster a deep comprehension of human rights and the critical role of right holders. This knowledge equips our team to navigate the complex landscape of human rights with precision.
3. Addressing Modern Practices: In today's rapidly evolving landscape, we're proactively addressing contemporary challenges. Our initiatives confront modern practices and working conditions such as forced labor, discrimination, and harassment. This approach ensures our practices remain in harmony with our enduring values.
This program has been conducted to empower the Human Rights Working Team and designated personnel with the knowledge and tools essential for integrating human rights considerations seamlessly into Osotspa's operations.
This movement marks a pivotal starting point for Osotspa's journey in conducting human rights due diligence. By initiating this process, Osotspa is taking proactive steps to identify, prevent, and mitigate potential human rights impacts within its sphere of influence. This approach underscores Osotspa's dedication to fostering a business environment that not only ensures operational success but also respects and safeguards the rights and dignity of all individuals connected to its operations.
* Human right working team refers to every site, including Beverage, AOC, Glass, Personal Care & Distribution Center, Healthcare, and Head Office