Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 25 MESSAGES FROM SUSTAINABILITY COMMITTEE DEAR STAKEHOLDERS, For the last two decades, Frontken Group (the “Group”) built technology and provide services that enable our customers to be more sustainable and do more for our environment, community and society. We integrate our technology, practices, partnerships and processes around a single mission – to build sustainability through actionable technology; and make more positive impact towards the environment and society together with our stakeholders. We have been committed to health, safety, environmental and corporate responsibility and sustainability development. We are focused on providing our customers around the world with products, services and technologies that help to improve and achieve the sustainable Environment, Society and Business Practices. This in turn helps to make an explicit and positive contribution to the challenges of the Sustainable Development Goals today. The year 2022 (“FY 2022”) was a challenging year. There were various significant events over the past two years that had rapidly evolved into a highly complex and uncertain situation; the world witnessed the resilience and fragility of our global economic, environmental, social and governance systems. The whole world went through a worldwide pandemic, supply chain disruptions, a prolonged war, different natural disasters and many other political tensions and high inflation challenges. We are now adjusting with these new realities created by these challenges that evolved into major concerns about climate change, environment protection, peace, prosperity and economic recovery. The global business community need serious industrial transformation, collaboration and adjustment to respond with better innovation, more responsible technology, more responsible business operations, mitigating carbon emissions and adopting sustainable energy; compliance with laws and regulations, high ethical standards; and integrated sustainability development. In our Group, we continue to navigate through our own transformation, redesigning and improving our business operation and focusing our innovation in areas where our technologies, processes, systems, and capabilities can make a difference to solve and accelerate the changes that are required. We recognise the unique and evolving characteristics of our stakeholders, customers, and supply chains to address climate change risks, clean water risks, circular economy, better green innovation and sustainable green production. We integrated our transformation journey with our sustainability development journey. We believe the biggest impact we can make is by working with our stakeholders, including customers, partners, and suppliers, to develop sustainable innovations and green production that address the worlds’ challenges and value chains efficiency. At FY2022 meetings of the Sustainability Committee, the members continue to discuss and update our specific business materiality assessment and enterprise risk management processes and internal control systems to fine tune our sustainability development priorities and management strategies to the changing risk situation and challenges facing our customers and stakeholders. The Committee also explored the possibilities of incorporating the concept of circular economy principles into our business models considering life cycle impacts in the markets we serve. The Group aims to achieve the following: (a) By 2050, we will neutralise 100% of our greenhouse gas emissions to achieve Environmental Vision 2050. (b) By 2050, we will generate 100% of our innovation portfolio to significantly solve sustainability challenges and create value for our customers and stakeholders. (c) By 2050, we will create 100% of our products and processes with reference to sustainability development criteria, green chemistry and green production, circular economy principles with minimum climate impact. Our key accomplishments in 2022 include: (a) strengthening innovation platform and increased innovation value creation; (b) more updated greener products and production process and specialised capabilities; (c) greener and safer regulatory chemical usage and management policy; (d) increased transparency, reduced risk, and increased actions linked to solving sustainability challenges, including climate change and pollution control. SUSTAINABILITY REPORT
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