FGV Annual Report 2020

82 FGV HOLDINGS BERHAD Annual Integrated Report 2020 Listening to Our Stakeholders INTRODUCTION FGV is committed to maintaining good relationships and rapport with all stakeholder groups. We believe that our stakeholders are critical for business success, and continuously engage with them to gather feedback on their expectations and perceptions. By listening to what they have to say, we are able to gather invaluable inputs to shape our risk management and decision-making processes for business operations. In 2020, FGV have performed extensive stakeholder engagements exercise to gauge our stakeholders’ views on the importance of our sustainability matters. Guided by an external sustainability consultant, we performed a group-wide stakeholder privatisation exercise and stakeholder engagement exercise with both internal and external stakeholders. STAKEHOLDER PRIORITISATION PROCESS During our stakeholder prioritisation exercise, we conducted aworkshop attended by selected representatives from various business functions in FGV. During the workshop, the influence and dependence of each stakeholder group were deliberated. In addition, our stakeholder prioritisation approach is guided by Bursa Malaysia’s Sustainability Reporting Guide (2 nd Edition) and Bursa Malaysia’s Toolkit, including the Toolkit on Stakeholder Engagement and Toolkit on Materiality Assessment. The outcome of the deliberation allows FGV to determine its key stakeholders. SUSTAINABILITY STAKEHOLDER ENGAGEMENT During the reporting year, we have engaged with over 220 representatives from a total of 11 stakeholder groups, namely Board of Directors, employees, field workers, FELDA, shareholders/investors, customers, suppliers, NGOs, JVs/business partners, regulators and media. As guided by an external sustainability consultant, we leveraged various engagement methods such as site visit, online survey, teleconferencing, and video conferencing to engage with our stakeholders. During these engagements, stakeholders were required to determine the importance of each sustainability matter and stakeholders were asked to provide thoughts and improvement opportunities for FGV to consider. Based on the feedback, key issues raised are related to human rights, employee welfare as well as environmental and resource management. Our stakeholders also raised concerns on issues related to research & development and FGV‘s product quality. The key areas for improvement by stakeholders include employee/worker welfare by reviewing the remuneration and benefits provided and enhancing the housing and facilities of plantation workers. We also received suggestion to collaborate with NGOs/ government agencies to improve the status of our RSPO certification. Our stakeholders also suggested FGV to invests in new technologies for business operation to improve productivity. The following table is a the summary of our stakeholder engagements by category, methods of engagement, key topics and concerns raised and FGV responses.