Yinson Annual Report 2021

159 ANNUAL REPORT 2021 CORPORATE GOVERNANCE OVERVIEW STATEMENT The Board has adopted a revised Terms of Reference of Board Risk Management Committee in April 2020, comprising of the following additional duties and responsibilities assigned by the Board: t 3FWJFX BOE SFDPNNFOE TUSBUFHJFT BOE JOJUJBUJWFT SFMBUJOH UP UIF $PSQPSBUF 4VTUBJOBCJMJUZ GVODUJPO UP FOTVSF (SPVQ XJEF alignment with relevant global corporate best practices, as well as environment, social and governance (“ESG”) ratings such as ones provided by Sustainalytics, Morgan Stanley Capital International, etc.; t 3FWJFX UIF (SPVQ T "OUJ #SJCFSZ .BOBHFNFOU 4ZTUFN UP FOTVSF UIF (SPVQ IBT QVU JO QMBDF BEFRVBUF NFBTVSFT UP NJUJHBUF bribery risk; and t 3FWJFX SFHVMBS DPNQMJBODF SFQPSUT GSPN UIF 3JTL .BOBHFNFOU $PNQMJBODF BOE 4VTUBJOBCJMJUZ %FQBSUNFOU UP DPOmSN UIF adequacy and effectiveness of the Group’s corporate governance. Our sustainability-related achievements, direction and goals are captured within the ‘Sustainability Statement’ and ‘Our Capitals’ section of the Annual Report 2021, from pages 71 to 152. Intended Outcome 3.0 The board is committed to promoting good business conduct and maintaining a healthy corporate culture that engenders integrity, transparency and fairness. The board, management, employees and other stakeholders are clear on what is considered acceptable behaviour and practice in the company. The Group’s Core Values The Group achieves its Vision and Mission through the implementation of a strong corporate culture that revolves around five (5) Core Values: Reliable, Open, Adaptable, Decisive and Sustainable. Code of Conduct and Business Ethics ("COBE") Policy and Procedure The Group’s COBE Policy and Procedure outlines the foundation and expectations in relation to ethical standards and personal conduct. The COBE Policy and Procedure, which includes other references such as the Group’s ABAC Policy and Procedure, AML Policy and Whistleblowing Policy and Procedure, aims to guide employees and the Board on good corporate behaviour and ways to resolve ethical dilemmas at work by: t 6QIPMEJOH UIF I ighest ethical standards of business conduct. t &ODPVSBHJOH FUIJDBM EFDJTJPO NBLJOH BOE SFXBSEJOH JOUFHSJUZ t #FJOH B SPMF NPEFM BOE MFBEJOH CZ FYBNQMF t &OTVSJOH FNQMPZFFT BSF HJWFO HVJEBODF UP VOEFSTUBOE UIF "#"$ 1PMJDZ BOE 1SPDFEVSF BOE PUIFS BQQMJDBCMF QPMJDJFT t $SFBUJOH B QPTJUJWF BOE USBOTQBSFOU FOWJSPONFOU XIFSF RVFTUJPOT BOE DPODFSOT NBZ CF SBJTFE DPNGPSUBCMZ t &OTVSJOH UIPTF X ho raise genuine concerns do not suffer retaliation. The Board recognises the importance of adhering to the COBE Policy and Procedure and has taken measures to ensure its compliance. The areas covered are as follows: t 8PSL FOWJSPONFOU t )FBMUI BOE TBGFUZ FOWJSPONFOU t "OUJ CSJCFSZ BOE BOUJ DPSSVQUJPO t "OUJ NPOFZ MBVOEFSJOH t $PNQFUJUJPO MBXT BOE SFHVMBUJPOT t *OUFMMFDUVBM QSPQFSUZ *1 BOE QSPQSJFUBSZ JOGPSNBUJPO t *OTJEFS USBEJOH t &NBJM JOUFSOFU BOE JOGPSNBUJPO TZTUFNT t .BOBHJOH JOUFSOBM BOE FYUFSOBM DPNNVOJDBUJPO t $PNQBOZ SFTPVSDFT The Board and employees constantly observe the COBE Policy and Procedure and uphold integrity to exercise good judgement when carrying out their duties.