110 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 In several countries, we specified the notice period and provisions for consultation and negotiation in CBA. In Brazil, where the CBA covers all employees, both onshore and offshore, the notice period is set by labour legislation at 30 calendar days. Meanwhile, in Ghana, offshore crew members are governed by a CBA, mandating one month’s notice for wage opener negotiations and three months’ notice for the renewal of the CBA. For employees not covered by CBAs, we base their terms and conditions of employment on local employment legislation, market norms and our competitive position. HLR monitoring We maintain rigorous oversight of our human rights practices through various initiatives, operationalised through an internal Human Rights Working Group. Comprised of representatives from diverse departments across the Company, this dedicated group continues to be responsible for enhancing existing procedures aimed at mitigating potential human rights issues across our business activities. Our steadfast commitment remains to uphold fundamental human rights and ensure decent working conditions throughout our operations. Additionally, we continue to adhere to our existing approach by ensuring information about how we address adverse impacts in certain areas is made available to the public. HLR risk assessment As part of our ongoing commitment to HLR, we have begun assessing the risk of non-compliance with international labour standards across our operations, recognising the variability in labour laws worldwide. Within our ERM framework, we proactively identify potential compliance risks and implement mitigation strategies. In addition to our HLR Policy, we adhere to the Group’s Code of Conduct & Business Ethics, mandate human rights training for all employees, and conduct comprehensive due diligence on suppliers and contractors. These measures reflect our dedication to ethical business practices and our commitment to fostering a responsible and sustainable corporate environment. Child labour, forced or compulsory labour and security We take the risk of child labour seriously in our operations and supply chain. We are cognisant that our operations involving shipyards, module yards and equipment/parts manufacturing are deemed to carry significant risks for incidents of child labour and young workers exposed to hazardous work. However, it is important to note that our Vendor Registration Platfrom (“VRP”) system does not designate specific countries or geographic areas as high risk. Instead, the VRP forms an overall risk profile for suppliers based on multiple factors, with geographical location being just one consideration. To contribute to the effective abolition of child labour, we implement ongoing measures through the VRP such as ensuring mandatory questionnaires for third-parties and suppliers on HLR practices, screening suppliers against adverse media relating to HLR and recording acknowledgements to comply with HLR requirements as part of the supplier onboarding process. Capacity building on human rights During FYE 2024, we implemented mandatory training on HLR for all employees, covering the following essential topics: • Health, safety and security. • Diversity, equality and inclusion. • Recognition of freedom of association and collective bargaining. • Employee work hours, wages and benefits. • Elimination of child forced labour, community rights and benefits. • Human rights in the supply chain. 898 employees were enrolled in the training, accumulating a total of 483 learning hours. Stakeholder engagement and cross-industry collaboration We continue to actively engage with our stakeholders, including peers from various industries, to address current challenges and explore opportunities related to business and human rights. This collaborative effort allows us to share best practices and strategies for improving the implementation of human rights. During the year, we participated in the UN Global Compact Business & Human Rights Accelerator to build internal capacity and exchange best practices with industry peers in the region. We were also part of the various roundtable discussions on the Business and Human Rights National Baseline Assessment Consultation Series, which discusses and documents the most salient business and human rights issues in Malaysia. Our commitment extends beyond our employees and the regulators as we regularly include HLR topics when engaging with clients and industry peers in shaping positive change. Providing an avenue for remedy In our continuous advocacy for HLR, we uphold our commitment to providing access to our employees, business partners, and the public for feedback, comments, and complaints. Yinson's Whistleblowing channel, accessible through multiple channels including on the Yinson website, is available for parties to raise any concerns. Concerns raised through our Whistleblowing channel are thoroughly investigated, with appropriate remediation actions taken. We had no instances of non-compliance with human rights laws and regulations in the period under review. Whistleblowing, pg 124.
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