54 KEYFIELD INTERNATIONAL BERHAD 202001038989 (1395310-M) CLIMATE ACTION INITIATIVES (CONT’D) Climate-related Disclosures (Cont’d) Risk Management The processes for identifying, assessing, and managing climate-related risks are integrated within the Group’s Enterprise Risk Management (“ERM”) procedure. Risk Management Identification of Climate-related Risks Managing Climate-related Risks Integration of Climate-related Risk Management • The Group’s ERM procedure is aligned with the ISO 31000:2018 standard, which defines the risk terminology used in our risk management process • Climate-related risks are identified through a risk identification, risk analysis and evaluation process • Risks are prioritised based on their likelihood, potential impact and alignment with the Group’s risk appetite • Our ERM procedure outlines the processes for managing and monitoring key risks, including climate-related risks • The ARMC reviews the effectiveness of risk management processes, including climate-related risks, ensuring appropriate risk assessments are conducted and recommending improvements where necessary • Risk Owners are responsible for identifying, assessing, and managing risks within their designated scope and escalating material risks to the GRC and SSC • The Group’s main operating subsidiary, Keyfield Offshore Sdn Bhd, is certified with ISO 14001, facilitating the management of climate-related risks • Climate-related risks are integrated into the Group’s ERM process to ensure they are systematically identified, assessed, and managed alongside other key risks Metrics and Targets The Group has initiated tracking of our GHG emissions and identified business activities that may incur costs from transitioning to more sustainable practices and assets. This allows us to assess the financial impact of necessary changes, plan for future investments, and prioritise efforts, ensuring informed decisions, effective risk management, and commitment to our long-term sustainability and climate action goals. SUSTAINABILITY STATEMENT FY2024 (cont’d)
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