05 / HOW WE ARE GOVERNED 01 02 03 04 06 07 08 09 123 Further, based on the outcomes of the Double Materiality Assessment, the GSMC, through the GNC, has recommended a refreshed Kenanga Sustainability Framework with new identified material matters to KIBB Board for endorsement. These updates are intended to better inform and support the execution of the Group’s sustainability strategy. Updated Kenanga Sustainability Framework The updated Kenanga Sustainability Framework provides strategic direction for the Group’s sustainability initiatives, including the setting of priorities, targets, and performance management across the organisation. It is anchored on four (4) sustainability pillars and reflects a refreshed set of material matters. Following a comprehensive Double Materiality Assessment, thirteen (13) material matters were identified as most significant to the Group and its stakeholders. This assessment also introduced two (2) new topics: Financial Inclusion and Risk Management. Financial Inclusion underscores Kenanga Group’s commitment to enhancing access to financial services, fostering inclusive economic development, and advancing social equity. Risk Management highlights the importance of proactively addressing risks related to sustainability and climate, and its relevance to the broader risk categories covered under the Kenanga Group’s Enterprise Risk Management Framework to safeguard client interests and support long-term organisational resilience. Below are the updated Material Matters: Sustainability Pillars Updated Material Matters Good Governance • Good Business Conduct • Risk Management • Regulatory Compliance Sustainable Economic Growth • Responsible Investment • Digitalisation • Cyber Security • Client Experience Environmental Stewardship • Climate Impact Empowering People and Communities • Diversity and Inclusion • Employee Safety, Health and Wellbeing • Talent Attraction, Development and Management • Community Investment • Financial Inclusion Kenanga Group’s Sustainability Goals and Targets, Sustainability Roadmap 2023-2025 In April 2022, guided by the Kenanga Group’s Sustainability Framework and Sustainability Plan, the Group Sustainability Goals and Targets were presented to the GSMC by Group Marketing, Communications & Sustainability. The goals and targets, which outlined the Group’s sustainability ambitions, were subsequently approved by the Board of KIBB on 6 April 2022, upon the recommendation of the GNC. Later, on 7 December 2022, the Board approved the Group Sustainability Roadmap 2023–2025, following recommendations from both the GSMC and the GNC. The Roadmap serves as a strategic guide to implementing the Group’s sustainability goals and targets. In 2024, the Group’s sustainability goals and targets were reviewed to assess their continued relevance and progress. As a result of this review, the Board approved a refreshed set of goals and targets to better align with national sustainability priorities and the evolving expectations of stakeholders. To support the implementation of the Sustainability Roadmap, relevant ESG KPIs were further strengthened and integrated into the Balanced Scorecards of respective employees to track and monitor ESG performance. Additionally, following the update of the sustainability goals and targets, Group Human Resource introduced Individual Development Plans (“IDPs”) to enhance ESG-related competencies among employees in relevant roles. These IDPs aim to equip personnel with the skills, knowledge, and mindset required to drive the Group’s ESG agenda while fostering a culture of continuous learning. As the Group concludes the implementation of Kenanga Group’s Sustainability Roadmap 2023–2025 (“Sustainability Roadmap”), the Roadmap is currently being reviewed to assess its continued relevance and alignment with the requirements of IFRS S1 and S2, guided by the National Sustainability Reporting Framework. In 2025, a Decarbonisation Roadmap was introduced to complement the Sustainability Roadmap, with a specific focus on climate impact management and decarbonisation initiatives across all Greenhouse Gas (“GHG”) emission scopes. CORPORATE GOVERNANCE OVERVIEW STATEMENT
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