Yinson Annual Report 2020

73 Annual Report 2020 Cross continent integration of business units To support Yinson’s growth, we encourage cross continent integration of our business units, where we grow and upskill our teams in the locations where we operate. In addition to hiring talent from local communities, one of the ways we execute this strategy is by mobilising our existing experts to new territories, allowing knowledge transfer and adoption of our corporate culture. For example, in FYE 2020, we strengthened our Corporate Advisory functions across the Group, with our Financial Reporting, and Investments & Strategic Finance teams expanding beyond our Global Headquarters in Kuala Lumpur to several regions. Similarly, we have mobilised our experts in operations and projects to start up our new offices in Brazil and Netherlands to strengthen our bases. Organisational Structure GOALS SET FOR FYE 2020 PROGRESS GOALS SET FOR FYE 2021 Cross continent integration of business units • Extended expertise from Yinson’s headquarters to build capabilities of local workforce where we operate • Continue cross continent integration of business units Improve internal departmental structure to align with Group’s growth • Introduction of new Group HR Director to improve approach and integration of HR function across the Group • Limits of Authority updated and approved • Introduction of Management Accounting, Asset Lifecycle Management (“ALM”) and Project Quality Departments • Continual improvement of internal departmental structure Within our Enterprise Risk Management (“ERM”) framework, we have newly included Energy Transition Risk as part of our strategic risks. This relates to Board-level management of risks and opportunities that come with the move towards a more climate- friendly economy, as well as the broader narratives that come into play for the achievement of this goal. As such, we are committed to managing the themes under sustainability better. Our efforts are guided by our Materiality Matrix, Sustainability Policy, as well as ESG ratings that we are engaged with, among others. In the review period, we have initiated an ESG risk rating exercise with Sustainalytics – and our commitment to better sustainability performance is further highlighted through linkage of Sustainalytics’ ESG Risk Rating to one of our credit facilities. As of FYE 2020, Yinson received an MSCI ESG Rating of B. Further, Yinson is a member of the FTSE4Good Index, an equity index series that is designed to facilitate investment in companies that meet globally recognised corporate responsibility standards.