In 2017, we formalised a sustainability-related function under our new Group Corporate Strategy. The new function is responsible to strategise and implement the Group’s sustainability agenda and roadmap. The function works closely with the Sustainability Working Group (“SWG”), which was formed in 2016 and is led by the Chief Strategy and Investment Officer.
The SWG reports directly to the Chief Executive Officer, who is responsible for setting the overall direction for sustainability matters, supervision of the day-to-day implementation and for endorsing the annual Sustainability Statement. In 2017, the SWG focused on strengthening the governance of sustainability function, by initiating efforts to:
- Further refine and formalise sustainability framework for the Group;
- Review the existing Malakoff’s stakeholder engagement process;
- Review the materiality assessment to reprioritise sustainability matters; and
- Evaluate and determine sustainability-related targets and indicators.
To improve the quality of our reporting, the SWG has successfully completed specialised training, which has also helped equip the team with knowledge and skills to develop the sustainability statement independently. The training also served as an orientation for SWG members on various trends and standards in sustainability, locally and globally.
DISCLOSURE AND EXTERNAL ASSURANCE
In the second year of our sustainability reporting, we have focused on building our capacity in the areas of sustainability, by setting-up a formal function and identifying the resources to strengthen our foundation, before we move to the next level of strategy and implementation.
Our 2017 Sustainability Statement has not been submitted or reviewed for external assurance. However, we have benchmarked our reporting framework with some of the industry best practices and ensured that it is in line with Bursa Malaysia’s reporting guidelines.