MISC Integrated Annual Report 2020

// Key Messages / Highlights / Strategic Review / Sustainability / Financial Review ////// MISC Berhad / Integrated Annual Report 2020 4 68 MISC Berhad / Integrated Annual Report 2020 4 69 ////// Financial Review / Sustainability / Strategic Review / Highlights / Key Messages // Section Section MISC’s Stakeholder Map OUR STAKEHOLDERS MISC is committed to contributing towards elevating the maritime industry and making a positive impact for our stakeholders. This commitment is supported by our stakeholder engagement strategy, focusing on creating shared value. At MISC, stakeholder engagement is integrated into every step of our value creation process. The term ‘stakeholders’ is defined as ‘all those who exercise or could exercise influence over the activity of our business or operations and all those who are, or could be, influenced by the activity of our business or operations’. MISC goes through a five-step systematic process to identify and understand its stakeholders as set out below: At MISC, our stakeholder engagement strategies are formulated as follows: • The outcomes from our stakeholder analysis, and risks and opportunities identified through this process, is considered in determining material matters for the business, as well as our short, medium and long-term strategies and goals • We identify the stakeholder value proposition and map it against our material matters • We develop initiatives to improve engagement and achieve our goals as part of our stakeholder engagement strategy • We measure the outcomes of our engagements as part of our value creation tracking While we engage with all stakeholders, we have identified our key stakeholders as those with whom we need to consult and, as such, have developed goals for each. The Group identifies and maps our stakeholders according to their power to influence versus their impact to MISC Group. The following graphic presents the Group’s stakeholder map: For details on how we engage with our stakeholders, refer to Anchoring Sustainability @ MISC section on pages 107 to 111. PROMOTE MONITOR COMMUNICATE • Industry peers • Academic organisations • Communities • Media • Trade associations / NGOs / activist groups • Suppliers / vendors (non-critical) Impact to MISC Group High Low Low High Power to Influence Identify & analyse Formulate strategy Implement Feedback Inform Categorise stakeholders according to risk and impact to business Develop an annual engagement plan which includes dialogues, meetings, events and surveys, among others Carry out activities according to the engagement plan Receive feedback and grievances through available communication platforms Report on stakeholder engagement activities Based on the stakeholder analysis, the appropriate level of engagements is chosen as follows: Stakeholders who have high influence and high impact to MISC Group should be fully engaged with the greatest effort to respond to their needs Stakeholders who have low influence but high impact to MISC Group should be kept adequately informed Stakeholders who have high influence but low impact to MISC Group should receive an adequate response to their needs and expectations Stakeholders who have low influence and low impact to MISC Group should be monitored Collaborate 1 2 3 4 Communicate Promote Monitor COLLABORATE • Customers • Government / regulatory • Shareholders / investors • Finance providers • Employees • Suppliers / vendors / insurance (critical) • Business partners 1 2 3 4 5