Governance

Integrity is core to our operations, guided by strong leadership, robust processes, and open dialogue with stakeholders. We uphold compliance with laws and regulations through our Code of Conduct, addressing conflicts of interest, anti-competitive practices, anti-money laundering, bribery, corruption, and more. Our governance framework is rigorous, evaluated through internal audits, performance reviews, employee feedback, and stakeholder engagement. In 2023, our Board, with 40% independent directors and diverse representation, underwent annual assessments to ensure effective governance. We prioritize transparency, accountability, and ethical practices to sustain long-term success.

With over 50 years of operational excellence, Alba maintains a steadfast commitment to national law compliance through robust risk management systems. In 2023, no instances of non-compliance were reported. Our Enterprise Risk Management (ERM) framework systematically addresses both internal and external risks, including those from production practices, supply chain management, financial performance, and regulatory compliance. Each department actively identifies and manages risks, supported by the Risk department led by a Chief Internal Auditor Officer and Risk Officer who reports to the Audit Committee quarterly. We also prioritize data resilience through cloud-hosted applications and ongoing cybersecurity training to safeguard sensitive information and mitigate operational disruptions.

We prioritize our duty of care to customers by ensuring the safety, quality, and transparency of our metal products at Alba. In 2023, our metal purity averaged 99.8%, meeting customer satisfaction as evidenced by feedback throughout the year. Products are marked with ink markers, engravings, QR codes, and barcode labels tailored to customer specifications for clear traceability. Our Marketing department manages the labelling process, ensuring accurate data entry into our SAP ERP system at the order stage. We aim to enhance our labelling system with QR coding for future improvements. Our Quality Policy emphasizes on-time delivery, technical support, adherence to our ISO 9001:2015 and IATF 16949:2016 certifications, and ongoing customer satisfaction monitoring. In 2023, our customer satisfaction survey across 210 customers yielded an average score of 7.84, reflecting strong engagement and feedback from our Asian customer base.

At Alba, we highlight responsible sourcing practices integral to our operations. New procurement suppliers undergo thorough onboarding, including briefings on our vision, mission, and adherence to our Code of Conduct and SHE policies. They complete environmental and often social assessments to ensure alignment with our sustainability goals. Our robust framework includes policies like Sustainable Procurement, SHE, Quality, Anti-Corruption, and Social Management, all accessible on our website. In 2023, all new suppliers met our environmental criteria, and 41% also met our social standards, with no contracts declined due to screening outcomes over three years.