Our Statement of Business Principles forms the basis on which we run our business in terms of responsibility.
Pakistan Tobacco Company Limited is a commercial enterprise and our primary role is to build long term shareholder value by meeting consumers’ preferences for high-quality tobacco products. However, we believe that by absorbing and balancing a wider range of expectations, we are best placed to continue building a sustainable tobacco business.
Like other multinational enterprises benefiting from economic globalisation, British American Tobacco also faces increasing demands to be more transparent and to demonstrate high standards of corporate conduct that might in the past have been taken on trust. In today’s rapidly changing world, large and successful businesses can be perceived as powerful and self-interested and can face barriers to trust. As a tobacco business, the Group can face more than others. In addressing these, a further challenge is that major enterprises like British American Tobacco often encounter varying and at times conflicting stakeholder expectations in different countries and cultures.
To help meet these challenges and following on a commitment made in the first British American Tobacco p.l.c. Social Report 2001/02, the Group has developed these Business Principles in consultation with managers from their businesses, as well as with external stakeholders. The Business Principles and Core Beliefs cover the key issues that underpin Corporate Social Responsibility (CSR) for a multinational business and, particularly, given the unique characteristics of a tobacco business.
There are three Business Principles: Mutual Benefit, Responsible Product Stewardship and Good Corporate Conduct, each of which is supported by a number of Core Beliefs, which explain what we think the principle means in more detail. Together, these form the basis on which we run our business in terms of responsibility.
Both the Business Principles and Core Beliefs and the way they have been developed are consistent with our four Guiding Principles, which collectively express the culture of the Group and Pakistan Tobacco Company Limited as part of it.
The four Guiding Principles are:
The principle of Mutual Benefit is the basis on which we build our relationships with our stakeholders. We are primarily in business to build long term shareholder value and we believe the best way to do this is to seek to understand and take account of the needs of all our stakeholders.
The principle of Responsible Product Stewardship is the basis on which we meet consumer demand for a legal product that is a cause of serious diseases. Therefore, our products and brands should be developed, manufactured and marketed in a responsible manner. We also aspire to develop tobacco products with critical mass appeal that will, over time, be recognised by scientific and regulatory authorities as posing substantially reduced risks to health.
The principle of Good Corporate Conduct is the basis on which our business is managed. Business success brings with it an obligation for high standards of behaviour and integrity in everything we do and wherever we operate. These standards should not be compromised for the sake of results.
Click on the link below to view our SOBC:
Our Supplier Code of Conduct complements our Group Standards of Business Conduct by defining the minimum standards we expect our suppliers to adhere to in order to supply goods or services to BAT and any BAT Group company. This builds upon our long-standing commitment to operating to the highest standards of corporate conduct for both our own business operations and our wider supply chain. It also supports our continuing commitment to respect human rights and uphold international standards, including the United Nations Guiding Principles on Business and Human Rights and the Organisation for Economic Cooperation and Development Guidelines for Multinational Enterprises.