The launch of the EV station at d’Tempat Club CLIMATE CHANGE IMPACTS Matrix is cognisant of its potential and actual physical, transition and legal risks associated with climate change. While not all these risks have impacted the business model, some risks, such as unpredictable weather conditions i.e. sudden deluge of rain, flash floods and heatwaves have disrupted site productivity. GOVERNANCE Matrix’s existing sustainability governance structure helmed by the Board Sustainability Committee (“BSC”) continues to have strategic oversight on all material ESG matters, including climate change and related topics such as energy consumption, emissions as well water consumption, waste management and resource / materials consumption. The latter topics are in relation to Scope 3 emissions. The governance of climate change involves the presentation of half-yearly reports to the BSC and thereafter, the full Board on Matrix’s sustainability related highlights and progress achieved. The BSC reviews these reports, deliberates on the results achieved, specifically on the following: direct and indirect energy consumption, Scope 1, 2 and 3 emissions, as well as increased adoption of RE and existing attempts to “green” operations in particular, the property development and construction operations. Specifically, the Board reviews the progress made against set KPIs and Targets. The Board, especially the BSC continues to update itself through training pertaining to climate change and related matters towards ensuring they are able to effectively discharge their governance duties. The role of management entails developing tactical execution plans to the broad goals set by the Board and to then drive performance on a day-to-day basis towards achieving set KPIs and Targets. A key focus area is the transition towards “green” construction and green property development – progressively driving towards increased resource and energy efficiency, reduced wastage and improved productivity. Management is also tasked with the development of effective risk mitigation measures – putting safeguards in place to reduce exposure to emerging and existing climate change risks; while also leveraging on opportunities. Ultimately, the role of the Board and Senior Management is to ensure continued progress towards realising Matrix’s Zero Carbons 2050 goal. Moving forward, Matrix may link the remuneration of Board or Senior Management, be it the basic remuneration or via a bonus mechanism to climate change related performance KPIs and Targets in the future. MATTERS MATERIAL TO VALUE CREATION INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 81
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