49 INTEGRATED ANNUAL REPORT 2024 Overview of Wasco Berhad Key Messages Value Creation Commitment to Governance Sustainability Journey Financial Statements Other Information SUSTAINABILITY REPORT Sustainability Policy At Wasco, sustainability is about delivering value for all our stakeholders in a responsible manner, balancing short and long-term interests that integrates economic, environment and social considerations into our business strategy. Wherever possible, we will implement and maintain accredited management systems for corporate sustainability to drive performance and improvement by focusing on our business processes, our culture, and our digital agenda – all underpinned by a strong governance structure. To achieve these goals, we will: • Ensure that our safety values remain a top priority, ensuring that nobody gets hurt, no damage to property and no harm to the environment. • Generate financial gains aligned to the needs of our stakeholders. • Employ a diverse workforce and provide a work environment where everyone is treated fairly, with respect, avoid excessive working hours, given the right to a minimum wage and can realise their full potential. • Implement actions within our own business and other stakeholders to accelerate the transition to net-zero emissions to reduce the impact of climate change. • Manage our businesses efficiently through embracing digitalisation and innovation. • Conduct our business in an ethical and transparent manner. • Safeguard human rights within our sphere of influence, opposing all forms of child labour and forced labour. • Support employment of underprivileged groups and youth. • Contribute to the well-being of local communities wherever we operate. • Periodically review our performance and implement appropriate actions for continuous improvement. In implementing this Policy, we will support and advance the United Nation’s Sustainable Development Goals focusing our efforts on those that align with our aims in order to make the most impactful contribution. We will engage with our employees, contractors, suppliers, customers, and business partners in sharing responsibility for meeting these goals. Sustainability considerations are embedded in our corporate strategy to ensure long-term value creation and sustainable business growth. We regularly review our sustainability approach and priorities to meet evolving stakeholder expectations and enhance our value creation efforts. Our Sustainability Framework reflects our commitment to integrating sustainability into the core of our business. This aligns with the growing call for corporate organisations to take a more active role in advancing sustainability and to look beyond short-term profitability. Guided by our purpose, the Sustainability Framework was developed by taking into consideration the varying maturity levels across Wasco. The process involved assessing existing sustainability programmes, aligning with changing in regulatory requirements, and setting measurable targets and goals to track our impact. The following factors were taken into consideration: 1. Material matters identified through a robust materiality assessment involving our Board of Directors, Senior Leadership Team, and key stakeholders. 2. Ongoing engagement with BUs on pertinent sustainability issues. 3. Internal assessments and benchmarking against industry peers. 4. Monitoring and evaluation of key performance indicators. Additionally, our Framework aligns with the global sustainable development agenda, particularly the UN SDGs, supporting a shared vision for a better and more inclusive future that leaves no one behind. Good Health and Well-Being Gender Equality Decent Work and Economic Growth Climate Action
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