04 / OUR SUSTAINABILITY APPROACH 01 02 03 05 06 07 08 09 47 SUSTAINABILITY STATEMENT Climate Governance The Group’s climate-related risks are governed through a structured, multi-layered framework with oversight from the KIBB Board, the Group Board Risk Committee (“GBRC”), and supporting Management Committees, BUs and Group Risk Management (“GRM”). This governance structure ensures that climate risks are identified, assessed, monitored and managed in alignment with the Group’s strategic objectives and regulatory expectations. Board Committees Board of Directors Provides overall oversight of climate risk management and ensures climate considerations are integrated into strategy, governance and major business decisions. Group Board Risk Committee Supports the Board by overseeing all aspects of risk management, including climaterelated risks. Audit Committee Oversees internal controls and compliance relating to sustainability and climate risk processes. Group Governance, Nomination and Compensation Committee Ensures sustainability governance and compliance with statutory and regulatory requirements, including climate-related risks. Management Committees Group Sustainability Management Committee The highest management committee for sustainability; oversees the Group’s climate and sustainability strategies, targets and programmes. Group Risk Committee (“GRC”) Reviews and recommends risk frameworks, policies and procedures, including those related to climate risk. Group Credit Committee (“GCC”) Oversees climate risk implications for credit portfolios and reviews climate-related credit policies. Delivery Functions and Business Units Group Risk Management Oversees all risk categories including climate risk, develops climate risk frameworks, conducts climate scenario analysis and stress testing, and provides reports to the GRC, GBRC and Board. GRM also reviews BU assessments and advises on climate-related matters. Business Units Integrate climate risk considerations into business strategies, conduct climate risk assessments on financing and investment proposals, and apply climate insights in decision-making and due diligence.
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