Sunway Construction Group Bhd

Lobbying Governance

AI Extracted Evidence Snippet Source

Collectively, the SunCon sustainability governance structure is also looking into developing climate change adaptation plans including scenario planning. The latter includes business plans in relation to the 2-degree scenario and to support the United Nations Climate Change Conference of the Parties 26 (COP26) target of Global Net Zero by 2050. The Board level Risk Management Committee is accountable to the Board and is responsible to advise the Board on the adequacy and effectiveness of the risk management framework, including promoting better governance culture and ethical behaviour within the Group by ensuring that structured policies and procedures on anti-corruption and money laundering are in place. Anti-bribery and corruption, as well as matters related to corporate governance, and integrity come under the purview of the full Board supported by the Audit Committee and Risk Management Committee. This includes both the ABC and Whistleblowing Policy. [...] SunCon since FY2020, has appointed a dedicated Anti-Bribery and Corruption Compliance Officer, who is responsible for the effective implementation of the ABC compliance programme, and is also tasked to identify, monitor and control bribery and corruption risks.

https://www.sunwayconstruction.com.my/annual-report-2022/wp-content/uploads/2023/04/Sustainability.pdf

The role of Management within SunCon is to develop and implement operational plans that are aligned to the broad based directives and strategies set at the Board level with regard to climate risks and opportunities. In essence, Management at the Executive Leadership level are tasked to develop a tactical level plan comprising KPIs and targets, including practicable timelines and ensuring sufficient resources towards realising said plans. The role of Management is a shared responsibility with the aforementioned Executive Leadership being the prime force for setting performance goals, and subsequent levels of management tasked with developing and implementing actionable plans towards achieving said goals. This includes closely monitoring energy consumption, driving increased energy efficiency across operations, reducing emissions, and improving emissions intensity. Additionally, developing cost-benefit ratios and analyses of climate change adaptation strategies also falls under the purview of management, such as evaluations of renewable energy transition plans like solar adoption, and development of potential scenarios based on carbon taxes or increased climate related compliance requirements within the construction sector. Management is also tasked with ensuring effective identification and mitigation of climate risks on a regular basis. This includes establishing oversight of all physical and transitional risks, establishing severity, probability and frequency levels, and more. The cognisance of these risks is to reside across the Group, where relevant, and is to be leveraged to develop effective mitigation plans by Management to achieve climate resilience and to safeguard business operations from potential impacts. In FY2023, Management formulated the Group Carbon Reduction Policy and developed the necessary climate adaptation strategies to mitigate identified physical and transitional climate risks. Other responsibilities of Management include ensuring an accurate, Group-wide GHG inventory with oversight on all energy sources consumed, including indirect energy sources. Management is also progressively expanding SunCon's Scope 3 emissions coverage to include more downstream and upstream aspects going forward. [...] The full Board is supported by the Board Sustainability Committee (BSC), which has been established to be the direct Board-level reporting entity for ensuring effective action and continued progress on the Group's ability to mitigate physical and transitional climate risks, in adopting relevant decarbonisation strategies, and in monitoring progress towards achieving net zero carbon status. The BSC sets broad goals and objectives, monitors the results achieved across set KPIs and targets on a regular basis including carbon reduction targets, and where necessary, make recommendations based on results achieved. This may include corrective action while also querying management on the tactical, executional plans formulated by Management in relation to climate-related risks and opportunities. The BSC reports all findings and recommendations to the full Board for further deliberation and approval, where required, feedbacks the view of the full Board to relevant management levels within the governance structure. The BSC also plays a role in reviewing and approving any financial allocations, budgetary expenditure and other resource dependencies linked to the mitigation of climate risks, as well as other investments including CAPEX and OPEX allocation by Management as part of developing a comprehensive management approach in addressing climate change risks and opportunities.

https://www.sunwayconstruction.com.my/annual-report-2023/wp-content/uploads/2024/file/Integrated%20Annual%20Report%202023.pdf

The SunCon Sustainability Steering Committee reports to the Board biennially on the review of emerging and existing climate-related issues, and the progress of the Company's sustainability strategy. [...] The Sustainability Working Committee (SWC) comprises members across all departments. The SWC identifies potential material matters and proposes relevant sustainability policies and strategies to the Sustainability Steering Committee (SSC) that is led by our Executive Director.

https://www.sunwayconstruction.com.my/annual-report-2020/images/pdf/SUNCON-IR2020.pdf

The Board level Risk Management Committee is accountable to the Board and is responsible to advise the Board on the adequacy and effectiveness of the risk management framework, including promoting better governance culture and ethical behaviour within the Group by ensuring that structured policies and procedures on anti-corruption and money laundering are in place. [...] Anti-bribery and corruption, as well as matters related to corporate governance, and integrity come under the purview of the full Board supported by the Audit Committee and Risk Management Committee. This includes both the ABC and Whistleblowing Policy. [...] SunCon since FY2020, has appointed a dedicated Anti-Bribery and Corruption Compliance Officer, who is responsible for the effective implementation of the ABC compliance programme, and is also tasked to identify, monitor and control bribery and corruption risks.

https://www.sunwayconstruction.com.my/annual-report-2022/wp-content/uploads/2023/04/Integrated-Annual-Report-2022.pdf

SunCon's Board of Directors plays a crucial role in upholding good governance and driving the sustainability agenda across the organisation. The Board-level Risk Management Committee advises on the adequacy and effectiveness of risk management frameworks. The Board is also supported by the Audit Committee and Risk Management Committee in ensuring the implementation of structured policies and procedures, protecting shareholders' interests, and serving as a di b d f h M Setting a strong "tone from the top", the Board ensures that ESG principles are integrated into the company's operations through the Sustainability framework and the Group's structured Governance mechanism. This includes fostering a sustainability-centric culture, with the Board actively participating in shaping and nurturing this ethos through rigorous oversight of ESG performance and aligning bonuses and performance evaluations of Board members and senior management, with ESG KPIs and targets such as Occupational Safety and Health (OSH) metrics. Plans are in place to expand the remuneration framework to cover broader ESG criteria. Furthermore, the Board is also involved in developing adaptation strategies to address climate change, including scenario planning to align with global targets for net-zero emissions by 2050. [...] Matters relating to OSH are reported to the Board Sustainability Committee (BSC), which bears the responsibility for overseeing the execution of SunCon's ESG framework, including the management of safety and health risks. In the case of major OSH incidents, detailed investigation reports, including recommendations and preventive measures implemented, are presented at Board meetings. To ensure comprehensive management of safety and health risks across the company, the Board may also invite relevant parties for further investigations. This structure of oversight and responsibility underscores SunCon's commitment to maintaining the highest standards of occupational safety and health across all its operations.

https://www.sunwayconstruction.com.my/annual-report-2023/wp-content/uploads/2024/file/Sustainability%20Statement.pdf