Sustainability
Sustainability Corporate Governance
Governance of sustainability at Scientex is predicated on the need to effectively monitor processes and implement strategies across our varied and geographically diverse business presence.
To achieve this, our governance structure endows shared responsibility for sustainability from the Board of Directors (Board) to the subsidiary level, with the most central role in this structure played by the Sustainability Steering Committee (SSC). The Group Sustainability Team was also formed in FY2022 to further strengthen our governance and oversight of ESG-related matters. This revised structure is detailed and elaborated on below.
Board of Directors (“Board”)
- Assumes overall responsibility for and oversight of the Group’s sustainability agenda, including the identification of sustainability topics, setting of objectives, and establishing policies and practices
- Nominated by the Nomination and Remuneration Committee, which is also responsible for evaluating the Board’s performance on sustainability issues through a peer evaluation process
- The Managing Director/Chief Executive Officer, Mr. Lim Peng Jin, spearheads the sustainability responsibilities of the Board
The Sustainability Steering Committee (“SSC”)
- Comprises members of the Scientex Executive Committee (“EXCO”) and is led by the Managing Director/Chief Executive Officer, Mr. Lim Peng Jin
- Conducts regular engagements with stakeholders and staff at the departmental or subsidiary level
- Identifies potential sustainability topics based on these engagements, and tables these topics for Board consideration
- Develops detailed strategies for sustainability topics identified
- Sets key performance indicators for strategies identified, involving data management systems, reporting processes and internal control mechanisms
- Develops sustainability related policies which govern sustainability practices across the Group, and tables these policies to the Board for approval
Group Sustainability Team
- Provides recommendations to the SSC on potential sustainability topics, and on the subsequent development and execution of strategies for the sustainability topics which are identified and approved
- Provides assistance to the SSC in the nomination of specific working groups to execute strategies formulated by the SSC
- Responsible for the execution of strategies in tandem with the Sustainability Working Groups identified
- Reports on the outcomes or progress of strategies to the SSC in monthly management meetings
- Monitors sustainability initiatives, maintaining proper records to facilitate regular reviews of sustainability management procedures and overall performance
- Leads sustainability related reports and presentations, ensuring compliance with applicable reporting requirements
Sustainability Working Groups
- Appointed on a topic-by-topic basis depending on the needs of the topic and its initiatives
- May comprise representatives from any of the departments and divisions within the Group
- Works with the Group Sustainability Team to ensure smooth implementation of strategies formulated, while adhering to specific management procedures
- Maintains proper records of actions taken and their results
- Delivers detailed reports on actions taken and results during monthly management meetings
- Act as a conduit between the Group Sustainability Team and individual departments and subsidiaries, providing an avenue for staff members to highlight and elevate potential sustainability issues for consideration
- Assumes overall responsibility for and oversight of the Group’s sustainability agenda, including the identification of sustainability topics, setting of objectives, and establishing policies and practices
- Nominated by the Nomination and Remuneration Committee, which is also responsible for evaluating the Board’s performance on sustainability issues through a peer evaluation process
- The Managing Director/Chief Executive Officer, Mr. Lim Peng Jin, spearheads the sustainability responsibilities of the Board
- Comprises members of the Scientex Executive Committee (“EXCO”) and is led by the Managing Director/Chief Executive Officer, Mr. Lim Peng Jin
- Conducts regular engagements with stakeholders and staff at the departmental or subsidiary level
- Identifies potential sustainability topics based on these engagements, and tables these topics for Board consideration
- Develops detailed strategies for sustainability topics identified
- Sets key performance indicators for strategies identified, involving data management systems, reporting processes and internal control mechanisms
- Develops sustainability related policies which govern sustainability practices across the Group, and tables these policies to the Board for approval
- Provides recommendations to the SSC on potential sustainability topics, and on the subsequent development and execution of strategies for the sustainability topics which are identified and approved
- Provides assistance to the SSC in the nomination of specific working groups to execute strategies formulated by the SSC
- Responsible for the execution of strategies in tandem with the Sustainability Working Groups identified
- Reports on the outcomes or progress of strategies to the SSC in monthly management meetings
- Monitors sustainability initiatives, maintaining proper records to facilitate regular reviews of sustainability management procedures and overall performance
- Leads sustainability related reports and presentations, ensuring compliance with applicable reporting requirements
- Appointed on a topic-by-topic basis depending on the needs of the topic and its initiatives
- May comprise representatives from any of the departments and divisions within the Group
- Works with the Group Sustainability Team to ensure smooth implementation of strategies formulated, while adhering to specific management procedures
- Maintains proper records of actions taken and their results
- Delivers detailed reports on actions taken and results during monthly management meetings
- Act as a conduit between the Group Sustainability Team and individual departments and subsidiaries, providing an avenue for staff members to highlight and elevate potential sustainability issues for consideration