MISC’S STAKEHOLDER MAP POWER TO INFLUENCE IMPACT TO MISC GROUP PROMOTE COLLABORATE MONITOR COMMUNICATE LOW LOW HIGH HIGH • INDUSTRY PEERS • ACADEMIC ORGANISATIONS • COMMUNITIES • CUSTOMERS • GOVERNMENT / REGULATORY • SHAREHOLDERS / INVESTORS • FINANCIAL PROVIDERS • MEDIA • TRADE ASSOCIATIONS / NGOS / ACTIVIST GROUPS • SUPPLIERS / VENDORS (NON-CRITICAL) • EMPLOYEES • SUPPLIERS / VENDORS / INSURANCE (CRITICAL) • BUSINESS PARTNERS DEFINING OUR STAKEHOLDERS STAKEHOLDER PRIORITISATION MISC’s prioritised key stakeholders are those who are the most likely to impact the Company’s achievement of its strategic objectives and those who can be positively or negatively impacted by our operations and activities. Highly influential stakeholder groups are most likely to give impact to the Company’s achievement of its strategic objectives. Highly dependent stakeholder groups are more positively or negatively impacted by the Company’s operations and activities. Our stakeholder map plots the influence and dependence of each stakeholder group on MISC as follows: OUR STAKEHOLDER ENGAGEMENTS We use a variety of platforms and engagement methods to build long-lasting relationships with our stakeholders. 1. 2. Determine pertinent stakeholders by considering their unique characteristics and level of involvement Relevant stakeholders are organisations or individuals who are directly or indirectly impacted by MISC’s operations and activities or have the potential to be impacted by MISC: 1. All those who exercise, or could exercise influence over the activity of our business or operations; and 2. All those who are, or could be influenced by the activity of our business or operations. Refer to Building Trusted Relationship section of the Sustainability Report for details of our key engagements with stakeholders. Refer to Our Stakeholders’ Universe section of the Sustainability Report for details of our Stakeholder Prioritisation and Stakeholder Map. OUR STAKEHOLDERS OUR OPERATING ENVIRONMENT In 2022, as the COVID-19 pandemic eased into the endemic phase, volatility arising from the Russian invasion of Ukraine and China’s zero-COVID policy bore pressure on the global economy. Energy security became a pressing issue in Europe as a result of the Russia-Ukraine war, while oil prices rose to record highs signifying the resurgence of the O&G sector. At the same time, the global agenda to address energy transition and climate change accelerated. As a result, demand for more eco-friendly fuel and energy sources grew. The Russia-Ukraine war coupled with lockdowns in China from its zero-COVID policy caused supply chain disruptions to continue, although the lifting of border closures throughout most countries worldwide eased mobility and travel. MISC Group was cognisant of the impacts these global trends and volatility would have on our business, and we considered their short- and medium-term implications as we executed our five-year rolling business plan. Our five-year business plan saw the Group focusing on strengthening our core by maximising cash from existing assets while accelerating our diversification into new asset classes and commercialising future options to sustainably generate cash for MISC. Through our longer range MISC 2050 strategy, we are addressing climate-related risks and opportunities which are shaping the journey towards a net-zero future by the year 2050. Implementing this strategy alongside our short-term business plan is enabling the Group to future proof our business by venturing into areas of opportunity that exist in the maritime decarbonisation and energy transition space to become a thriving business in a net-zero and circular economy. Strategic Review Strategic Review 63 62 MISC Berhad Integrated Annual Report 2022
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