FGV HOLDINGS BERHAD | ANNUAL INTEGRATED REPORT 2023 129 SIGNIFICANT MATTERS CONSIDERED BY THE COMMITTEE The Chairman of the BSC provided the Board with updates on critical issues discussed during BSC meetings and the recommendations made therein. Additionally, confirmed minutes from each BSC meeting were distributed to the Board for review at the earliest possible opportunity. Significant matters reported by the BSC to the Board included: PERFORMANCE REVIEW During the financial year, the Board evaluated the BSC’s performance and the extent to which the BSC met the requirements of its ToR, including the term of office and performance of the BSC and each of its members. This performance assessment constituted part of the annual BEA, pertaining to the assessment of Board Committees. FORMALISED ETHICAL STANDARDS The ethical standards of our Group are firmly rooted in our PRIDE values. The Board, in fulfilling its responsibilities, adheres to the ethical guidelines outlined in the Directors’ Code of Ethics and Conduct (CoEC) and Directors’ Code of Business Practice (CoBP). These documents set forth the expected standards of behaviour and conduct for all Directors within the FGV Group. Employees are guided by the Code of Business Conduct and Ethics (COBCE). This comprehensive framework encourages stakeholders to embrace the Group’s values, ensuring compliance with applicable laws and regulations through transparent, honest, and ethical business practices. The Board and employees consistently strive to uphold the highest standards of integrity and behaviour, following best practices in corporate governance. This commitment extends to interactions with customers, suppliers, employees, business partners, and the broader community and environment where FGV operates. The COBCE is easily accessible through the Compliance Management System (internal hub), facilitating employees in adopting ethical practices. Periodic awareness campaigns, conducted through roadshows and forum events, contribute to fostering a culture of integrity. To reaffirm their commitment, employees acknowledge the COBCE every two years, with the next renewal in 2024. Additionally, the Group has implemented the Whistleblowing Policy, providing a platform for the FGV community to report any form of improper conduct. This policy assures individuals that they can disclose information without fear of punishment or unfair treatment, reinforcing our commitment to a culture of accountability and transparency. More information on the application of the relevant practices of the MCCG 2021 relating to sustainability can be found in the CG Report 2023, which is available on our website, www.fgvholdings.com. PRINCIPLE A: BOARD LEADERSHIP AND EFFECTIVENESS SIGNIFICANT MATTERS HOW THE BSC PROVIDED OVERSIGHT ON THESE MATTERS WRO by the US CBP against palm oil and palm oil products made by FGV, its subsidiaries and joint ventures Deliberated on FGV’s remediation actions to address the WRO by the US CBP. RSPO, MSPO and International Sustainability and Carbon Certification (ISCC) Monitored the progress of all FGV’s sustainability certifications and observed our compliance with related regulations and standards. Climate action Provided inputs on our integrated Group wide Climate Action plan and our commitment to the SBTi.
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