VM Pensions CEO urges manufacturers, exporters to prioritise environmental sustainability
Manufacturing and export professionals are being urged to balance the need for innovation and digital transformation with a commitment to environmental sustainability.
The call came from chief executive officer of VM Pensions Management Limited Natalie Bennett while delivering the keynote address at the Jamaica Manufacturers and Exporters Gala Awards held on Saturday, September 28, 2024. VM was the title sponsor for the annual event hosted by the Jamaica Manufacturers and Exporters Association (JMEA).
Reflecting on the theme, “Redefining Boundaries: Advancing the Future of Manufacturing and Exporting”, Bennett challenged attendees to think critically beyond their current achievements and embrace a bold vision for the future.
“In alignment with the widely accepted phrase, “the future is digital”, we are all pressed to move with the times and brainstorm how we can leverage the power of digital tools for advancement, personally and professionally. However, we cannot forget to prioritise sustainability. The boundaries of manufacturing must expand to encompass environmental responsibility,” she said.
“We must innovate processes that not only reduce our carbon footprint but also create products that are designed to be reused and recycled. This shift will not only benefit our planet, but will also attract a growing base of environmentally-conscious consumers”, Bennett said.
Acknowledging that several companies in Jamaica are experiencing success in their innovation and digital transformation journey, Bennett also reinforced the need to redefine export strategies to capitalise on growth opportunities.
“The global marketplace is evolving rapidly, and to compete, we need to be agile. This means rethinking our supply chains to be more resilient and diversified. By building partnerships that transcend geographical and political boundaries, we can mitigate risks and seize new opportunities,” the VM Pensions CEO highlighted.
“We need to embrace digital transformation in our export strategies. E-commerce platforms, digital marketing, and data analytics can help us reach new markets and tailor our offerings to diverse consumer needs.”
Approximately 59 companies and 15 individuals were nominated for recognition in different categories at this year’s awards. The VM Legacy Award, presented to a company in operation for over 25 years that has contributed significantly to the economy, was won by National Rums of Jamaica Limited, home of Moneymusk Rums.
Wisynco copped the award for Manufacturer of the Year, while Seprod was recognised as Exporter of the Year.
Bennett congratulated all the nominees, urging them to remember that collective, deliberate effort is essential in effectively redefining the boundaries and ensuring a thriving economy for generations to come.
In closing her address, Bennett reinforced, “Wherever you are in your journey, what matters is the steps you will take to smartly assess your present reality and chart a practical and sustainable course to the next level.
“Continue to investigate what is possible. Continue to network and engage in purposeful dialogue about the way forward. Continue to refine your mindset on how you can do things differently or more efficiently and continue to explore the training requirements to create a cadre of individuals who are technologically conscious and innovative in their thoughts,” she continued
“Redefining boundaries is not merely a task; it is a call to action. It is an invitation to reimagine what is possible. Let us embrace this challenge with open minds and collaborative spirits.“
VM’s ongoing partnership with the JMEA began in 2022 when both entities signed a memorandum of understanding for VM Pensions Management Limited to provide retirement solutions and special access to a curated bundle of financial products and services across the VM Group that cater to the well-being of JMEA member companies and employees.
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