Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 115 GOVERNANCE SUSTAINABILITY RISK MANAGEMENT Our dedication to comprehensive risk management runs deep within our corporate culture, extending well beyond mere compliance. We utilise globally recognised methodologies to identify and assess risks across financial, environmental, and social domains. Our response strategies cover a wide range of measures, from mitigation to transfer mechanisms, are all supported by continuous monitoring and communication. This approach seamlessly integrates into our strategic planning and decisionmaking processes, highlighting the critical link between effective risk management and our overarching performance objectives. Throughout 2023, we conducted numerous initiatives aimed at raising awareness and educating stakeholders on key risk matters and made significant strides in advancing our sustainability risk management practices. In 2023, we took the first step towards understanding Task Force for Climate-Related Disclosure (“TCFD”) disclosure requirements by undergoing TCFD training to create awareness of its scope and reporting parameters. We then developed a TCFD Roadmap to guide us in our compliance journey. Through our Net Zero exercise, we conducted scenario analysis, incorporating various climaterelated assumptions, including differing levels of greenhouse gas emissions, potential changes in regulatory policies, and technological advancements in our proposed decarbonisation pathways. These projections served as a starting point for including climate risk in our enterprise risk framework. INTEGRITY TRAINING We have developed an integrity training module and made it mandatory for all our employees to undergo this training, with a refresher training required every 2 years. We have developed Risk, Integrity and Compliance e-learning module that consist of lessons on: OUTLOOK Moving forward, the Company will enhance its risk management framework to capture sustainability-related risks such as the impact of climate change and other material matters to the business. Plans are underway to incorporate sustainability risk management practices more effectively into the existing RMF and align risk management practices with broader sustainability goals and regulatory reporting requirements. In the interim, UEM Edgenta has already taken steps to identify and assess environmental, social, and governance-related risks, which are reported to the BGRC quarterly. The Company has also begun preparations to address the recommendations of TCFD and International Sustainability Standards Board (“ISSB”) by undergoing TCFD awareness training in 2023 and developing a roadmap for the compliance process. Code of Conduct 1 Anti-Bribery and Anti-Corruption (“ABAC”) 2 Code of Conduct for Business Partner 3 Fundamental of Risk Management 4 The modules are offered in both Bahasa Malaysia and English, and are made interactive to ensure engaging and dynamic learning experience. It also incorporates real-life business cases to ensure relevance to UEM Edgenta. Moving forward, we will continue to offer this training and take steps to track as well as disclose the number and percentage of employees who have received training on anti-corruption by employee category. Further details to our Risk Management practices please refer to our Statement on Risk Management and Internal Control disclosure in page 238 - 246 of this annual report.
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