p.113 1 2 3 4 5 6 7 8 9 SUSTAINABILITY STATEMENT p.112 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 SUSTAINABILITY AT UEM EDGENTA SUSTAINABILITY AT UEM EDGENTA Working with senior management, our Risk Management Committee (“RMC”) plays a significant role in institutionalising our enterprise risk management framework, which entails assessing, monitoring and managing key risks, including sustainability risks, throughout the Group. In line with this, the RMC acknowledges that environmental or climate risks form one of the key components of the Group’s sustainability risk profile. In further complementing the role of the RMC, we have also established an ESG Steering Committee which is delegated the role of developing and monitoring our strategies, policies, processes and initiatives related to sustainability as approved by the Board. In addition, the ESG Steering Committee periodically reviews the sustainability performance of the Group and recommends action plans for further improvements as part of our overall sustainability framework. Moreover, the Board has elected our Managing Director/Chief Executive Officer to be our dedicated focal point in embedding the intentions of our sustainability framework within our operations and to exemplify good leadership relating to our day-to-day sustainability performance. Coordinating with the RMC to consider and incorporate sustainability risk within the Group’s risk profile, an ESG Working Team has been formalised and is tasked with monitoring, tracking and reporting sustainability performance on a quarterly basis. The roles of the ESG Working Team include: In supporting the pillars of our governance structure, our affiliation with the CEO Action Network (“CAN”) has been impactful during the year, allowing us to further engage and interact on key issues that matter within a network of peers advocating sustainability. Since our acceptance to the network in 2021, we have leveraged on this extended grid of collaboration to build awareness, expand capacity and initiate actions addressing matters such as climate change, social stewardship and others. As part of our affliance with CAN, our Edgenta Stars were also provided with opportunities to participate and collaborate with CAN on several knowledge sharing sessions during the year, including on sustainabilty assurance and carbon tax. Besides, the Board also participated in several other sustainability engagement and awareness sessions, including the Path to Net Zero Webinar. Furthermore, ESG awareness sessions at business units also led to a collaboration between our team at Infrastructure Services and PLUS in initiating a recycling 3R (Reduce, Reuse and Recycle) campaign at rest areas along the North-South Expressway (“NSE”). RISK MANAGEMENT A formal Risk Management Framework - developed based on the principles of ISO:31000 - has been established to set clear guidelines in relation to the risk management methodology of the Group. Based on the framework, a structured process has been established to identify, evaluate and manage significant risks, including thorough significant consideration of ESG risks. In managing ESG risks, the organisation defines its context and lists down measures to mitigate potential exposure to such risks. For further information on the way we manage our ESG risks, please refer to Risks and Mitigation on page 72 of this report. The risk management process includes identifying key risks at areas of significance, assessing the likelihood and impact of risk exposure, determining the relevant risk mitigation and remedial plans, and presenting key matters for review and deliberation. In addition, our risk ratings and mitigating actions are subjected to regular reviews in order to identify emerging risks, update our risk profile and follow up on the implementation of proposed initiatives. For more details on our risk management framework and control processes, please refer to Statement on Risk Management and Internal Control on pages 237 to 245 of this report. OUR SUSTAINABILITY ROADMAP As we embark on the next phase of our sustainability journey, we have taken the initiative to develop our first Sustainability Roadmap as a key component of our sustainability framework. With the target of better defining our vision and strategy, the roadmap was developed by aligning our actions with our sustainability goals and objectives while staying true to the UN SDGs we have adopted. The two-year roadmap (FY2022 - FY2024) was developed through a comprehensive and holistic approach which included gathering insights from stakeholders through various workshops and taking into consideration the material matters that are significant to our business operations and our stakeholders. Through the exercise, the roadmap defined six sustainability pillars to guide our journey moving forward. Developing sustainability strategy and frameworks Coordinating the implementation of sustainability related projects Supporting the development of sustainability targets and KPIs Connecting, engaging and educating the various internal stakeholders on ESG matters M onitoring, evaluating and reporting on a regular basis the progress of sustainability initiatives/programmes/events to the ESG Steering Committee/Board Overseeing the preparation of the Group’s Sustainability Report and other required disclosures related to sustainability Approach Governance and Culture Performance Measurement Reporting and Communication Materiality Initiatives and Actions
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