147 GOVERNANCE INTEGRITY IN CORPORATE REPORTING AND MEANINGFUL RELATIONSHIP WITH STAKEHOLDERS C The Board recognises its responsibilities to each of the Company’s stakeholder groups and to wider society. The Directors endeavour to ascertain the interests and views of our stakeholders and consider these when taking decisions. The Board oversees a governance framework that enables decisions to be taken at the right time in the most appropriate forum. We recognise that it is not always possible to achieve each stakeholder’s preferred outcome and consideration of each stakeholder group depends on the matter at hand. The Board strives to balance the different priorities and interests of our stakeholders in a way compatible with the long-term, sustainable success of the business and which maintains a standard of business conduct aligned to our values and purpose. Most engagement with key stakeholders is carried out by management teams and takes place at business level and the Directors engage directly with stakeholders where possible. Reporting mechanisms are in place to collate feedback and developments from such engagement and enable a flow of this information to the Board and Board Committees, to inform decision making. An overview of VENDORS & SUPPLIERS LOCAL COMMUNITIES INVESTORS & SHAREHOLDERS INDUSTRY BANKERS & LENDERS CLIENTS CREW EMPLOYEES GOVERNMENTS & REGULATORY BODIES PARTNERS S2 S9 S7 S6 S5 S4 S8 S3 S10 S1 CORPORATE GOVERNANCE OVERVIEW STATEMENT business level engagement and outcomes is reported to the Board or appropriate Board Committee on a regular basis. One of the Board’s objectives is to routinely bring external viewpoints into Board discussions, which have included external speakers, training sessions and organisational deep dives led by colleagues from across the business, during the year. The Board has identified the stakeholder groups it considers key and some examples of how the Company has engaged with these groups, together with the outcomes and impacts of engagement on our business and Board decisions, are set out below. OUR STAKEHOLDER GROUPS At Yinson, our ecosystem of stakeholders play a vital role in our long-term success. We seek to establish shared value across our stakeholders through proactive engagements to communicate our value proposition and capture feedback on our value creation to ensure mutual and sustainable relationships in the long run. Yinson’s 10 key stakeholder groups have been identified as below:
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