STRATEGIC REVIEW OUR STAKEHOLDERS Mapped identified stakeholder value proposition against material topics Defined short, medium and long-term strategies and goals from received feedback Aligned with the AA1000 Stakeholder Engagement Standard Developed business initiatives to improve engagement and achieve goals Measured engagement outcomes as part of value creation tracking MISC’s Stakeholder Engagement Strategy Our strategy and interactions with our stakeholders are underpinned by the following principles: COLLABORATE PROMOTE COMMUNICATE FEEDBACK TRANSPARENCY with strategic partners sustainability awareness sought regularly from stakeholders effectively through identified platforms through disclosures on sustainabilityrelated frameworks MAPPING OUR STAKEHOLDERS We have identified our key stakeholder groups according to their impact and influence, and the most appropriate means of engaging with them as presented below: MISC’s Stakeholder Map POWER TO INFLUENCE IMPACT TO MISC GROUP HIGH HIGH LOW LOW INDUSTRY PEERS ACADEMIC ORGANISATIONS COMMUNITIES PROMOTE MONITOR MEDIA TRADE ASSOCIATIONS / NGOS / ACTIVIST GROUPS SUPPLIERS / VENDORS (NON-CRITICAL) COLLABORATE COMMUNICATE SUPPLIERS / VENDORS / INSURANCE (CRITICAL) BUSINESS PARTNERS CUSTOMERS GOVERNMENT / REGULATORY SHAREHOLDERS / INVESTORS FINANCE PROVIDERS EMPLOYEES Our stakeholders Stakeholder value proposition Issues/topics discussed of importance to the stakeholders GOVERNMENT/ REGULATORY SHAREHOLDERS/ INVESTORS/ FINANCIAL PROVIDERS CUSTOMERS EMPLOYEES BUSINESS PARTNERS/ SUPPLIERS & VENDORS • Crisis management and business continuity (COVID-19) • Development of talent and job opportunities • Corruption and bribery • Project and financial performance • Values and governance • Climate change • Ship recycling practices • Diversity and inclusion • ESG risks and opportunities • Crisis management and business continuity • Values and governance • Business experience • Supply chain management • Climate change • Health and safety • Crisis management and business continuity • Attract and retain sustainable talent • Health, safety, security and environment management • Diversity and inclusion • Business ethics and compliance • Project and financial performance • Crisis management and business continuity • Values and governance • Health, safety and environment • Business knowledge and expertise • Support the government’s agenda in promoting innovation and sustainable growth of the maritime industry • Licence to sustain operations • Better understanding of MISC’s business performance, financial position and sustainability agenda • Increase shareholder/ investor confidence • Better access to debt funding for CAPEX • Increase confidence in MISC’s capabilities in delivering quality and sustainable products and services • Career development and growth in a sustainable organisation • Attract and retain sustainable talent • Leverage each other’s expertise and collaborate on innovative products and services • Better understanding of MISC’s expectations (including sustainability agenda) on suppliers and increased business opportunities For details of the value we have created for our stakeholders, please refer to the Business Review section of our IAR. For more details of how we engage with our stakeholders, please refer to Our Stakeholders’ Universe section of our Sustainability Report. MISC recognises the interdependence of our relationship with our stakeholders, as evidenced by the impacts that our stakeholders have on our business, and conversely, the impacts our business has on them. Bearing this in mind, we have taken into account our key stakeholders’ needs and interests throughout our value creation process and activities. We seek to maintain transparent and accountable engagements with our stakeholders, as we work collaboratively with them to develop initiatives and solutions that are relevant to their needs and deliver on their expectations. OUR APPROACH We have established a structured stakeholder engagement strategy as set out below. MISC Berhad 66 Integrated Annual Report 2021 MISC Berhad Integrated Annual Report 2021 67
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