159 ANNUAL REPORT 2022 OUR CAPITALS SOCIAL & RELATIONSHIPS CAPITAL RISKS • Failure to maintain good relationships with local communities may lead to localised conflicts and reluctance to support the company, affecting operations and reputation. • A lack of understanding of local community concerns could result in ill-considered business decisions. OPPORTUNITIES • Good community practices enable the company to attract and retain local talent. • A social license to operate allows companies to add value to the local community, creating a sustainable operating environment. • Meaningful engagement enables companies to understand concerns from different communities in different operating areas, enabling companies to respond and improve. • Good community engagement promotes good reputation and branding. • Social work can be a key differentiator for businesses, providing a competitive advantage. Management approach As a global organisation whose operations touch the lives of individuals all over the world, we are committed to good corporate citizenship in every community we operate in. Our CSR programmes are designed to support Yinson’s CSR mission, which includes: • Promoting quality education and effective learning. • Promoting education through sport. • Providing skills improvement and training opportunities to meet the demands in the energy industry. • Promoting environmental conservation and rehabilitation. Our CSR objectives are to: • Create long-term positive outcomes in our communities and the environment. • Create shared value between Yinson, the communities and the environment. • Be a corporate leader in the community where we operate. • Encourage Yinson employees to actively participate in CSR initiatives. CSR activities at Yinson are driven by our CSR Committee, which comprises one representative from each country office. The committee meets monthly to receive updates and review proposed CSR programmes submitted by Yinsonites. Every Yinsonite is encouraged to nominate and champion CSR activities in the local community. Yinson collaborates with various stakeholders to offer impactful community solutions. Our community programmes aim to create value for all parties involved, including NGOs, collaborators and society at large. We strive to sustain long-term impact through ongoing interventions. A summary of our CSR programmes in FYE 2022 are elaborated in the Group CEO Review, with a full list of our CSR activities over the years found on our website. Driving local impact, pg 47; Local workforce, pg 88; Local communities, pg 127 Scan this QR code to read about all Yinson’s CSR efforts
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