Emerging Risks In addition to the principal risks identified, the Group continues to monitor emerging risks that may impact its business and sustainability. These include, but are not limited to bribery and corruption risks, climate-related risks, cybersecurity and data privacy threats, regulatory developments, as well as supply chain and operational resilience risks. Emerging risks are assessed through the Group’s ERM process and are incorporated into the Group Risk Profile where relevant. Such risks are reviewed by the RMSC and escalated to the Board as appropriate. Further information can be found within the Sustainability Statement on pages 95 to 187 of this Annual Report. INTEGRATING RISK MANAGEMENT WITH SUSTAINABILITY During the financial year, the Risk Management Department continued to integrate sustainability considerations across the Group’s business operations, recognising that sustainability factors increasingly influence the Group’s overall risk landscape. In supporting this integration, the Department incorporates ESG metrics to assess and monitor the Group’s performance. The selection of these metrics, and the management and disclosure of the Group’s material sustainability matters, is guided by prevailing sustainability standards including the GRI Standards and the NSRF, which mandates the progressive adoption of IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2: Climate-related Disclosures, as issued by the International Sustainability Standards Board (“ISSB”), by all listed issuers. Further details are presented in the Sustainability Statement on page 102 of this Annual Report. KEY INTERNAL CONTROL SYSTEMS AND STRUCTURE The Board and Management of the Group have established a set of key internal control measures to safeguard the Group’s objectives and support effective operational management. Board Committees In carrying out its oversight responsibilities, the Board relies on the support of three Board Committees. Each Committee operates under clearly defined terms of reference and authority covering matters within its respective scope. The Committees are: Audit Committee Risk Management and Sustainability Committee Nomination and Remuneration Committee The Board Committees report directly to the Board and operate within clearly articulated roles, responsibilities and delegated authority approved by the Board. Within these mandates, the Committees review and decide on matters within their authority or submit recommendations to the Board for consideration and approval. The Board also periodically reviews the composition, structure and terms of reference of these Committees to ensure they continue to function effectively and remain aligned with the evolving needs of the Group. Board Meetings The Board convenes scheduled quarterly meetings to deliberate on key matters affecting the Group. Each meeting follows a structured agenda to facilitate focused discussion and informed decision-making. Directors receive Board papers in advance of each meeting and are given access to comprehensive and relevant information to support their review, deliberation and oversight responsibilities. Group and Organisational Structure The Group maintains a clearly defined organisational structure that establishes reporting lines, roles, responsibilities, accountability and decision-making authority from the Board and Management through to operational levels. The Board and Management regularly review this structure to ensure it remains effective and aligned with the Group’s evolving operational requirements, and implement improvements where necessary. AR 2025 | GOVERNANCE 222
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