WASCO BERHAD 140 BOARD SUSTAINABILITY COMMITTEE (iii) identify, assess, manage and monitor areas of material business risks of the Group, financial and non-financial risks; (iv) develop and ensure the systems and processes in identifying, assessing, treating, monitoring and reporting the business risks are continuously improved; (v) oversee the conduct, and review the results of the Group’s risk assessment including the identification and reporting of critical risks; (vi) conduct annual review and periodic testing of the Company’s internal control and risk management framework; (vii) advise the Board on the Group’s current risk exposures and futures risk strategy based on its overall risk appetite; (viii) recommend the risk policy including the setting of risk management authorities, limits and escalation procedures to the Board; (ix) provide guidance and strategic direction to the business units on the adequacy and effectiveness of internal control systems for identification and mitigation of material business risks; (x) establish procedures in conjunction with the respective business units to ensure identification of and compliance with relevant laws, licensing and regulatory requirement; (xi) liaise where necessary with the Legal and Internal Audit functions of the Group; and (xii) undertake any other risk management tasks as may be delegated by the Board to the Committee. D. Sustainability (i) oversee, review and monitor the duties and responsibilities of the Sustainability Steering Committee (“SSC”); (ii) oversee the formulation of the Group’s overall sustainability framework and strategies, including principles and policies which are aligned with related regulations and standards; (iii) monitor the implementation of the Group’s overall sustainability framework, principles, policies, initiatives, activities, strategies, and plan undertaken or implemented; (iv) review and recommend to the Board the development and implementation of the Company’s sustainability-related strategies, goals, initiatives, business plans and major action plans; (v) oversee the Group’s responsibilities, on-going commitments and initiatives on its sustainability which encompasses the Economics, Environmental, Social and Governance (“EESG”) to be in line with the Group’s vision, mission and values; (vi) review the relevant compliance with the regulatory and public commitments on sustainability matters and monitor the effectiveness of the risk management framework related to sustainability and EESG matters including risk appetites and risk policies; (vii) review and consider other sustainability and EESG related matters referred by the Board; (viii) ensure the EESG risks identified are incorporated into the risk register and the oversight of each significant risk is the responsibility of the Board;
RkJQdWJsaXNoZXIy NDgzMzc=