SUSTAINABILITY REPORT Cont’d SUSTAINABILITY GOVERNANCE The sound sustainability governance at Press Metal is led by our Board, which sets the tone from the top to drive our sustainability agenda. In FY2022, we enhanced our sustainability governance structure to promote effective management and monitoring of our sustainability matters. This enhancement sees the delegation of the Board’s oversight on sustainability risks and opportunities, including those associated with climate change and human rights, to the Risk Management Committee (“RMC”), chaired by an Independent Non-Executive Director and comprising the Executive Vice Chairman and two (2) other Independent Non-Executive Directors. Furthermore, a new Corporate Sustainability Development (“CSD”) Team was established to assist, support, and report on divisional-level sustainability efforts. Our enhanced sustainability governance structure is illustrated below. Corporate Sustainability Development Team PMBtu PMS PMAR Division Sustainability Working Group Risk Management Team PMI PMIT PMBA Risk Management Committee Downstream Sustainability Working Group Midstream Sustainability Working Group Board of Directors Sustainability Committee The Board oversees the Group’s sustainability direction and is ultimately responsible for overall sustainability performance. These include approving Press Metal’s sustainability strategy, objectives, policies, and targets. All Sustainability Reports were endorsed by the Board prior to publication. Delegated by the Board, the RMC plays an integral role in governing ESG risks at Press Metal. The RMC oversees the integration of ESG matters within the enterprise risk management framework, as well as the overall implementation of controls for ESG risks. On a quarterly basis, the RMC provides updates to the Board on the Group’s ESG risks and opportunities. The Risk Management Team (“RMT”) assists the RMC to oversee the development and implementation of risk management policies. RMT’s principal roles and functions include monitoring the progress of risk mitigation plans and reporting to the RMC on risk management matters and the Group’s risk profile. The Sustainability Committee (“SC”), under the leadership of the Group CEO, bears responsibility for a multitude of tasks. These tasks comprise the development of all-encompassing sustainability strategies, policies, and approaches, the integration of ESG principles and practices into the Group’s overall business strategies and policies as well as the assurance of the effective implementation. ANNUAL REPORT 2022 100
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