INTEGRATED ANNUAL REPORT 2024 124 125 SECTION 10: ANCHORING SUSTAINABILITY www.miscgroup.com MISC BERHAD For more information, please refer to the List of Associations and Principles on page 61 in MISC Sustainability Report 2024. MEMBERSHIPS AND ASSOCIATIONS As a leading provider of international energy-related maritime solutions and services, MISC Group is driving the future of the industry. We actively engage in key industry discussions, leveraging our expertise to contribute innovative solutions alongside global leaders. Our commitment to sustainability is reflected in our efforts to promote understanding and adoption of sustainable practices through collaboration with a broad range of stakeholders. As members of prominent industry associations, we take a proactive role in forums, conferences, events and partnerships, fostering meaningful contributions to the advancement of the maritime sector. Climate-related Trade Associations and Principle/Charter Other Trade Associations and Memberships Maritime Anti-Corruption Network (MACN) A global business network that envisages a corruption-free maritime industry that provides fair trade for the benefit of society. Our Position Align our contributions to MACN with the SDGs, particularly Goal 16 (Peace, Justice and Strong Institutions) and Goal 17 (Partnership for the Goals). Getting to Zero Coalition Call to Action Carbon Disclosure Project (CDP) A partnership between the Global Maritime Forum (GMF), Friends of Ocean Action and the World Economic Forum. The coalition is a powerful global alliance of more than 70 public and private organisations committed to developing zero-emission vessels by 2030 and furthering international shipping’s decarbonisation in line with the IMO’s aspirations. A multi-stakeholder task force convened by the Getting to Zero Coalition with members from the entire maritime ecosystem including shipping, chartering, finance, ports and fuel production. The Call to Action was delivered to world governments in November 2021 before COP26. A not-for-profit organisation that administers the global disclosure system used by investors, businesses, cities, states and regions to manage their environmental impacts. Our Position We collaborate with critical maritime strategic partners on a joint development project for an ammonia-fuelled tanker that supports the shipping industry’s drive for a decarbonised future. The joint development enables industry players with similar mindsets to pursue decarbonisation and reduce the effects of climate change. Our Position We are a signatory to the Call to Action for Shipping Decarbonisation. Our Position We disclose our carbon management strategies, policies and procedures to CDP annually. Anchoring Sustainability CLIMATE-RELATED FINANCIAL DISCLOSURES Anchoring Sustainability Framework 2024 Highlights Governance • Established and enhanced Board and Management-level governance for the oversight, evaluation and management of climate-related matters • Appointed the Chief Strategy & Sustainability Officer (CSSO) on 1 January 2025 Strategy • Reviewed and updated short-, medium- and long-term time horizons • Prioritised nine material climate-related physical and transition risks and opportunities • Categorised climate-related risks and opportunities systematically, emphasising those with high importance based on their impact, significance and stakeholder interest • Disclosed strategic plans to manage climate-related risks and opportunities Risk Management • Embedded climate risk evaluation into our strategic planning and business process through the MISC Resiliency Model • Leveraged risk-based tools to integrate climate risk and opportunity considerations into projects and investment opportunities Metrics and Targets • Identified performance indicators and benchmarks to manage climate-related risks and opportunities • Medium-term target: 50% reduction in GHG intensity (for shipping operations) by 2030 compared to 2008 levels • Long-term target: Net-Zero GHG emissions by 2050 MISC CLIMATE FRAMEWORK For more information, please refer to the MISC’s 2024 Climate-related Financial Disclosures Report and Climate-related Financial Disclosures section on pages 80 to 87 in MISC Sustainability Report 2024.
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