Overview

The governance of sustainability issues and matters is a fundamental consideration, as we continue our efforts in embedding sustainability principles into our decision-making process and operations as a whole. We seek to fulfil our responsibilities and commitments to our five key stakeholders – Customers, Shareholders, Employees,Environment and Community – via progressive governance and management practices and the MISC Sustainability Strategy.

With the aim to fortify sustainability governance across the Group, sustainability elements have been incorporated into the MISC Board Charter to ensure that the management of matters relating to sustainability is begins at the highest level within the Group.

This is supported by a multi-pronged approach through the Management Committee (MC), the MISC Group Health, Safety, Security & Environment (HSSE) Council and the Sustainability Working Committees (SWCs). Working committees have been set up for each of the six sustainability pillars (Customers, Shareholders, Governance & Business Ethics, Employees, Environment and Community), with specific focus on ensuring the successful delivery and implementation of the respective strategies and initiatives for each pillar.

This cross-functional approach is required to coherently address and manage sustainability matters and identified material issues arising across all our businesses and location of operations. Collaboratively, these committees are involved in decision making processes and in setting the tone for our sustainability direction and initiatives, as well as addressing risks, communication and stakeholder management.

Committee Roles and Responsibility

Management Committee

MISC MC is the highest decision-making authority in the Sustainability Governance Framework and is led by our President/Group CEO. The MC also comprises all Vice Presidents (VPs) and CEOs of selected subsidiaries.

MISC HSSE Council

MISC Group HSSE Council is the highest authority for HSSE, responsible to provide stewardship and oversight to all HSSE related matters that includes group wide HSSE Policy, strategy, initiatives, systems, targets, performance and management Review. It is chaired by the President/Group CEO and comprises all members of the MC, Head of Group HSSE and CEO of selected subsidiaries.  The Council serves as a platform to discuss on effective execution of key strategies and associated issues that affect group wide HSSE key result area, risk management, internal controls as well as provide guidance on the way forward.

Sustainability Working Committee

Following the endorsement of the MISC Sustainability Strategy, Sustainability Working Committees (SWCs) were established for each of the six sustainability pillars. These SWCs are led by a champion – a member of MISC Management Committee (MC) – and is comprised of key focal persons/placeholders representing the various BUs, SUs and Subsidiaries within the Group. Senior management representation at the respective working committees signifies the Group’s commitment towards ensuring the successful implementation of the strategy.

The purpose of the Sustainability Champion and the respective SWC members is to have active participation from the various BUs, SUs and Subsidiaries in the planning, coordination and implementation of the programmes and initiatives relevant to the MISC Sustainability Strategy, which will be relevant to the Group as whole.

All initiatives and programmes under the strategy will be monitored and measured periodically, for the purpose of tracking progress and addressing any concerns/issues that may arise. Progress updates will be provided to the MC (led by our President/Group CEO) to ascertain their inputs and guidance, ensuring a successful process of implementation and achievement of objectives set out under the MISC Sustainability Strategy.

 

Additionally, in support of the overarching sustainability governance process, the Group and the various businesses within have various internal and external mechanisms and systems in place for the management of specific sustainability related matters. We are continuing our ambitions to streamline these practices into a more cohesive and holistic approach.

The following table highlights some of the policies and systems in place that supports the sustainability governance process and the management of specific sustainability related matters.

Categories Relevant policies and guidelines

Governance and Business Ethics

  • Governance and Business Ethics Code of Conduct and Business Ethics (CoBE)
  • MISC Anti-Bribery and Corruption (ABC) Manual
  • Whistleblowing Policy
  • Gift and Entertainment Policy
  • MISC Corporate Privacy Policy
  • Conflict of Interest
  • Competition Law
  • Economic Sanctions
  • Personal Data Protection Act (PDPA)

Health, Safety, Security and Environment

  • MISC Policy of Health, Safety and Environment (HSE)
  • MISC Security Risk Management Policy
  • HSE Requirements for Contractors
  • MISC Policy on Drug and Alcohol
  • MISC Safety Rules
  • ISO 9001:2008 Certifed Quality Management Systems
  • OHSAS 18001:2007 Certifed Occupational Health & Safety Management Systems
  • ISO 14001:2004 Environmental Management Systems
  • ISO 50001:2011 Energy Management Systems

Employees

  • Performance Management System
  • International Labour Organisation (ILO) Maritime Labour Convention 2006
  • MISC Employee Handbook