46 FGV HOLDINGS BERHAD ABOUT FGV MANAGEMENT DISCUSSION & ANALYSIS VALUE CREATION A key enabler to our future focus is a strong and loyal talent pool. In recent years, growing diversity of talents have been welcomed into the FGV family. The task now is to align a Group-wide mindset change in driving performance as an evolving high level entity. Some of the key highlights in strengthening Human Capital include: Ensuring safe working protocols within a new normal and establishing a Group-wide COVID-19 vaccination policy to ensure a safe work environment. Launched a graduate trainee programme to attract and groom university graduates as fresh talent for the Group. Implementation of DACUM (Developing A Curriculum) Phase 1 - which is to identify current work process, skill sets and performance standards targeted for FGV’s critical positions to enable people’s capability improvements in ensuring future-ready workforce. Embarked on the Individual Development Plan (IDP) initiative as a tool to identify and retain talent within the Group by providing them career development plans towards future leadership roles. Our sustainability agenda remains at the forefront of our effort towards creating value for stakeholders. We are anticipating the lifting of the Withhold Release Orders (WRO) ban and Roundtable on Sustainable Palm Oil (RSPO) certification suspension as we build the blocks towards a zero-impact business operation. This is guided across our operations following the Group Sustainability Framework that incorporates the main Environmental, Social and Governance (ESG) components, together with innovation and transformation as the main drivers of our sustainability agenda. Key highlights for the year included: Establishing the Gender Equality and Women Empowerment Committee to provide women equal access to all opportunities throughout our operations. Leading the way as the first food and agriculture company in Malaysia to formalise commitment by signing the United Nations (UN)-backed Science-Based Target initiative (SBTi) Business Ambition for 1.5°C pledge. This requires FGV to reduce its greenhouse gas emission by 45% by 2030 and hit net-zero emission by 2050. Improving our SPOTT rankings to 19th position from 23rd, which shows improved transparency in disclosures related to ESG issues. Group Chief Executive Officer’s Strategic Review HUMAN CAPITAL SUSTAINABILITY The year’s high Crude Palm Oil (CPO) prices have brought in profits at a timely phase of our evolution. In addition, we have successfully launched a RM500 million Sukuk Murabahah programme in December 2021 to provide an alternative avenue for capital raising with all proceeds utilised for Shariah-compliant purposes. The capital boost is a good indication of our financial position strength and acts as the catalyst to further refine FGV’s distinct business model, as charted by our Strategic Business Plan. FINANCIAL Further details on FGV’s financial performance can be found under Group Financial Review on page 48. Please refer to Sustainability Report for more details. Scan here to view our Sustainability Report FINANCIAL & CAPABILITY BUILDING Advancing on Financial & Capability Building, FGV has embarked on a thorough benchmarking exercise with comparable companies in order to gauge our strengths and understand current weaknesses. Through that exercise, we have identified ways to maximise margins based on existing assets, increase market penetration globally, and champion the National Food Security agenda. It has also highlighted the need to further enhance our Financial, Human Capital and Sustainability in order to achieve our goals.
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