148 FGV HOLDINGS BERHAD ABOUT FGV MANAGEMENT DISCUSSION & ANALYSIS VALUE CREATION Sustainability Statement STAKEHOLDERS ENGAGEMENT Operating in an industry that is constantly under scrutiny, it is imperative that we give voice to our multiple stakeholders so that we obtain an inclusive and informed view to make decisions and formulate sustainability responses that are balanced and unbiased. To this end, FGV is committed to maintaining good relationships with all stakeholder groups to encourage and obtain honest feedback. Our stakeholders are critical for business success, and continuously engaging with them to gather feedback on their expectations and perceptions will serve us well. We view the following as key stakeholders to our business and the associated sustainability matters. Customers Suppliers Regulators & Government Board of Directors & Employees Field Workers Please refer to the Sustainability Report on our Stakeholders Engagement which can also be found on page 26 of this Report. MATERIALITY ASSESSMENT FGV conduc t s annua l Mater i a l i t y Assessment to understand and identify the impacts of our business on the economy, environment and people, including the impacts on human rights. The identified impacts - our sustainability risks - are then critically assessed to determine their relative materiality with consideration given to both financial and non-financial perspectives. Sustainability risks that are most significant and material are specifically referred to as our material matters. The materiality assessment process involves a three step processes namely: Identification Prioritisation Validation FELDA & FELDA Settlers Investors & Capital Providers JV & Business Partners Media Non-Governmental Organisations (NGOs) Board of Directors Board Sustainability Committee Group Management Committee Group Sustainability Sustainability Synergy Committee Compliance Head of Group Sustainability (Reports directly to Group Chief Executive Officer) Engagement Regulations Technical Logistics & Others Sector Sugar Sector Plantation Sector Finance & Corporate Services In relation to Sustainability Governance, a Board Sustainability Committee (BSC) was formally established in September 2021 out of a realisation that sustainability warrants and deserves dedicated focus and attention at the highest level. The establishment of the BSC reinforces FGV’s unwavering commitment to sustainability, and reflects FGV’s resolve in ensuring that ESG considerations such as human rights, labour standards, health and safety, climate action, biodiversity, traceability and supply chain, as well as the circular economy, continue to take centre stage in all FGV’s businesses. Previously, FGV’s sustainability matters were under the purview of its Board Governance and Risk Management Committee (BGRMC). Please refer to the Sustainability Report on our Materiality Assessment Approach and Process which can also be found on page 24 of this Report. Please refer to the Sustainability Report on Sustainability Governance.
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