FGV HOLDINGS BERHAD | SUSTAINABILITY REPORT 2022/2023 7 Total Property, Plant and Equipment RM7.91 million Total Profit Before Zakat and Taxation RM336 million Total Profit for the Financial Year RM112 million In alignment with evolving global standards and regulations, FGV has embraced a robust stance on sustainability-related legislation. Our dedication is exemplified through our No Deforestation, No Planting on Peat, and No Exploitation (NDPE) policy. Through stringent measures, such as the protection of High Carbon Stock (HCS) Forests and High Conservation Value (HCV) Areas, the elimination of open burning across all premises, and the prohibition of hazardous agrochemical use, we are steadfastly advancing our environmental stewardship. Concurrently, our unwavering commitment to upholding human rights and labour standards ensures that our business operations remain free from exploitation. Key initiatives in this domain include the establishment of a sound grievance mechanism, rigorous pre-sourcing assessments for labour standards compliance, and the strict enforcement of the ‘no recruitment fee’ policy in the recruitment of migrant workers. Recognising the pivotal role of smallholders within our supply chain, FGV has launched targeted capacity-building programmes. These initiatives aim to foster awareness and empower independent smallholders, underlining our commitment to inclusivity and sustainability. By engaging directly with these stakeholders we are championing an inclusive and sustainable supply chain. FGV’s commitment to transparency and accountability is further underscored by our robust traceability system. This system enables us to meticulously monitor the provenance of supplied and raw materials, ensuring that every link in our supply chain upholds a high standard of sustainability and ethical conduct. OVERVIEW Over the past two years, FGV has continued to place sustainability at the forefront of our operations and strategic vision, aligning our actions with key sustainability themes that are central to our industry. We recognise the urgent need for climate resilience and have developed a comprehensive climate action plan to mitigate climate risk and adapt to climate change. Key to this initiative is our pledge to halve GHG emissions by 2030, aligning with our broader ambition of achieving net-zero emissions by 2050. Ultimately, we aim to achieve better outcomes by collaborating with the broadest spectrum of stakeholders. From non-profit organisations and United Nations agencies to government bodies and business networks, our collaborative endeavours seek to harness collective expertise and resources to meet our sustainability goals. Together, we are actively integrating ESG-related measures that drive sustainable value creation, ensuring that our actions resonate with our shareholders’ long-term aspirations. OUR COMMITMENT TO GOOD GOVERNANCE We adopt a tone-from-the-top approach in sustainability governance. FGV’s Board has oversight of sustainability-related matters, including climate-related risks and opportunities. The Board is supported by the Board Sustainability Committee (BSC) to oversee our Group policies, principles and operations related to sustainability. Assisting the BSC is the Sustainability Steering Committee (SSC), which is responsible for addressing sustainability-related issues such as human rights and environmental stewardship while ensuring compliance with greenhouse gas (GHG) emission targets. The mandate extends across FGV’s operations, including plantations, mills, refineries, and bottling plants in Johor, reflecting the Company’s broad operational scope. The Board is also supported by the Audit Committee and the Board Governance and Risk Management Committee (BGRMC) to oversee matters beyond financial management, including internal audit concerns. Additionally, we recognise the importance of market expectations where FGV operates. We ensure that our policies and operations are aligned with recognised sustainability and governance standards. To further ensure accountability, FGV has a whistleblowing policy to address governance or ethical issues promptly. JOINT LEADERSHIP STATEMENT 2023 HIGHLIGHTS
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