131 ANNUAL INTEGRATED REPORT 2021 HOW WE ARE GOVERNED REINFORCING SUSTAINABILITY ADDITIONAL INFORMATION Kasmuri Sukardi Chairman Members Dato’ Mohd Rafik Shah Mohamad Nik Fazila Nik Mohamed Shihabuddin The purpose of the Board Governance & Risk Management Committee (BGRMC) is to assist the Board in fulfilling its statutory and fiduciary responsibilities in formulating, overseeing as well as inculcating good governance, sound risk management and sustainability practices and culture in the FGV Group. The BGRMC comprises exclusively of Non-Executive Directors and majority are Independent Directors. The Chairman of the BGRMC is an Independent Non-Executive Director. The BGRMC’s responsibilities are as follows: Governance, Ethics & Integrity • Review and monitor the implementation of a governance and integrity framework which includes reviewing and maintaining governance documents and policies • Ensure adequate resources to oversee and implement governance policies and processes Risk Management • Recommend to the Board for approval and/or amendments to the Group’s risk management and internal control framework, strategies, policies, procedures, systems, capabilities and parameters • Review periodically the Group’s risk management and internal control framework, strategies, policies, procedures, systems, capabilities and parameters to ensure implementation and compliance • Evaluate the adequacy and effectiveness of the Group’s risk management, mitigation plans and internal control framework, the Group Governance and Risk Management structure, risk management processes and support system to identify, assess, monitor, manage and mitigate the Group’s key risks • Report to the Board key business risks and its updates, strategies on managing key business risks, effectiveness of the mitigation plans and progress management of key business risks BOARD GOVERNANCE & RISK MANAGEMENT COMMITTEE REPORT Effective 1 September 2021, matters related to sustainability became agendas of the newly established Board Sustainability Committee. Sustainability • Direct and oversee the formulation of the Group’s overall sustainability strategies and initiatives, including principles and policies which are aligned with related regulations and standards • Monitor the implementation of the Group’s approved overall sustainability strategies and initiatives, including principles and policies • Review Sustainability Report or Sustainability Statement or information having major financial and/or reputational impact to the Group, to be publicly issued by the Group or to be included in the Company’s Annual Integrated Report • Address ongoing sustainability legacy issues such as the RSPO and US Customs and Border Protection that has an impact on the business operations and performance of the company
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