ANNUAL REPORT 2023 61 MYEG places significant emphasis on sustainability governance, considering it as a leading priority for the Group. The governance structure plays a vital role in overseeing various aspects of the MYEG organisation. To ensure effective governance, it is essential to identify the key subjects or issues such as financial management, compliance with regulations, risk management, environment impact, social responsibility and ethical standards that fall under the respective business units or division heads’ purview. Oversight of this governance is diligently carried out by the Group’s Board of Directors. The Board assumes responsibility for deliberating on sustainability and ESG priorities, which are subsequently integrated into the Group’s strategies, operations and key objectives. The outcomes of these deliberations are communicated to MYEG’s Senior Management, which then incorporates and adheres to these ESG priorities in the formulation of future plans. This is in addition to the Board addressing conflicts of interest and / or related party transactions, as per MYEG’s Director Fit and Proper Policy and Conflict of Interest Policy. At every quarter, Board and committee meetings are held and in addition to the quarterly meetings, special Board meetings shall be convened as and when required to consider urgent matters that require the Board’s expeditious review and consideration. All individual Board members are to attend Board and respective Board committees’ meetings. The elevated importance of MYEG’s sustainability matters is the primary rationale for managing them effectively, which will also ensure the maintenance of established standards across the Group. Ongoing enhancements and advancements to material sustainability matters are implemented in response to the evolving nature of these crucial matters. MYEG’s sustainability governance structure is designed to foster the formulation of the Group’s sustainability strategies. Its efficacy largely derives from robust linkages among the various groups operating within the structure. Below outlines MYEG’s sustainability governance structure: Oversees the overall strategy implementation process. Reviews sustainability-related information and presents it to the Board. Deliberates and determines the Group’s sustainability strategies and policies with a focus on ESG aspects. SUSTAINABILITY ROLES AND RESPONSIBILITIES WHO Board of Directors Implement the plan in their respective job functions. Working Level Senior Management Develops, implements, monitors and reviews the strategies, plans and initiatives related to sustainability matters. Prepares, collectively or through a designated member, updates as well as advises senior leadership and / or the Board on its activities when requested. Sustainability Working Group Operationalise the plan in the respective business units and divisions. Collate sustainability related information against measurable indicators to provide resolution and facilitate informed decision-making. Business Units & Division Heads Significantly, the Sustainability Working Group (“SWG”) plays a pivotal internal role in driving the Group’s ESG agenda within the sustainability governance structure. The SWG assumes a crucial function in ensuring the effective implementation of MYEG’s sustainability strategies and plans This implementation is strategically supported by disseminating the ESG implementations of the Board and Senior Management to the supervisory and working levels of the Group. SUSTAINABILITY GOVERNANCE d i h i d i d b d ll SUSTAINABILITY STATEMENT
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