Annual Report 2020

2. SUSTAINABILITY GOVERNANCE Sustainability is deeply embedded into the business of QL, driven from the highest level of management. QL’s Board of Directors takes an active role in setting the direction of sustainability, reflecting the active role they play at each of the group’s business pillars. Based on the firm commitment by the Board, we set up a Sustainability Steering Committee (“SSC”), chaired by the Executive Chairman and comprises heads of business units and business functions. In 2018, a Sustainability Reporting Working Group (SRW) was established to further strengthen the reporting process where it reported directly to the SSC. As we continued to look for ways to improve, a project manager was appointed in 2019 to manage the SRW reporting process together with topics champion assigned to lead and formulate action plan and reporting for the material issues identified. The following outlines the core responsibilities of the SSC: • Incorporate sustainability into QL’s Risk Management and Corporate Strategies; • Oversee the management of material sustainability matters as identified; • Monitor QL’s sustainability performance for reporting. SRW proactively undertakes the following core responsibilities: • Perform materiality assessments (i.e. identification and assessment of sustainability matters relevant to QL’s business); • Reports to the SSC on sustainability matters; • Develop sustainability disclosure for reporting and the preparation of sustainability report for SSC’s approval. As an agro-based business, QL adheres to sustainable practices to remain relevant and at the forefront of the industry. To achieve this, we assess our governance processes regularly and seek to incorporate industry best practices, guidelines, standards and recommendations into our sustainability-related responsibilities without compromising operating efficiency and synergy. We measure and track the impacts of key sustainability matters from our daily operations for proactive management of issues which is a critical part of the sustainability governance structure. In FY2020, the SRWmet 6 times informally whilst SSC convened 2 times formally to discuss and deliberate on sustainability matters. Sustainability Steering Committee Executive Chairman Head of Business and Business Functions Sustainability Governance Board of Directors Executive Committee Sustainability Reporting Working Group Diagram 1: Sustainability Governance Structure at QL A Milestone on Our Sustainable Growth Journey 39