SUSTAINABILITY REPORT Cont’d UPHOLDING GOOD GOVERNANCE AND ECONOMIC RESILIENCE Robust and effective governance plays a crucial role in the success of our business as it leads to ethical and sustainable business practices and long-term value creation. Having robust and effective governance contributes to better economic performance, enhanced investor’s confidence and strengthen talent attraction, while ensuring compliance with regulations and ethical standards. As a resilient business, Press Metal takes proactive measures to strategically manage externalities while pursuing our short- to long-term objectives. This involves increasing operational efficiency, effectively managing finances, and managing the supply chain responsibly. Through proactive and prudent management, businesses can easily navigate through changing conditions and emerge with greater resilience. BUSINESS ETHICS AND CORPORATE GOVERNANCE GRI 3-3, GRI 205-1, GRI 205-2, GRI 205-3, GRI 415-1 Why is this important? Business ethics and corporate governance are important as they steer the Group to operate ethically and responsibly. By upholding our governance stance, robust policies, and ethical principles in a transparent manner, we earn the trust, confidence and loyalty of our stakeholders, including employees, customers, suppliers, investors and the wider community. This enables the Group to establish a positive reputation and maintain robust, long-term relationships with our stakeholders. These principles, delineated in our governing policies, are ingrained into every aspect of our operations, from finance, accounting practices, and risk management up to our interactions with suppliers and customers. By adopting sound governance and business ethics, we can mitigate the risks of facing legal or financial penalties, reputational damage, or other adverse repercussions. Our Approach Ethical Standards in the Workplace The Board sets the Group’s corporate governance standards and policies, as outlined in the Board Charter, and is supported by the Group CEO who oversees the implementation of the policies at the Group level. Similarly, at the entity level, the implementation of these policies is overseen by the respective appointed Management Representative. Press Metal’s Code of Conduct (“CoC”) and the Code of Ethics (“CoE”) outlined the standards and principles of ethical behaviour that are expected from our Directors, Management, and employees, when executing their responsibilities or addressing ethical dilemmas. The CoC promotes a corporate culture centred on accountability, integrity, fairness, high performance, and non-discrimination as well as provides specific guidelines for handling conflicts of interest, employee interactions, and communication with superiors. The CoE is established to offer guidance in identifying and resolving ethical concerns, create channels for reporting unethical behaviour, and promote a culture of integrity and responsibility. Both the CoC and CoE have a conflict-of-interest provision to ensure that no Director, Management, or employee engages in any other occupation or business or has an interest in any activity or business that conflicts with their positions in Press Metal. ANNUAL REPORT 2022 102
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