Annual Report 2023

47 2023 Annual Report Transport International Holdings Limited Sustainability Governance We adhere to the recommended best corporate governance practices to achieve sustainable business development. We ensure compliance with applicable legal and regulatory requirements while considering the interests of our stakeholders. The Group has adopted an integrated management approach to guide the sustainable development of TIH based on the principles of integrity, equity and transparency. This integrated management approach is strengthened by ongoing staff training and communication with stakeholders. The Board of Directors of TIH (the “Board”), as its highest governance body, is responsible for stewarding the long-term development of the Group and growing shareholder value. The Board currently comprises nine Non- executive Directors, five Independent Non-executive Directors and one Executive Director. The biographies of our current Directors can be found on pages 158 to 166 of our 2023 Annual Report. The overall strategic planning and accountability for the Group’s sustainable development rest with our Board, which determines the sustainability strategy and oversees its progress. Our ESG Task Force, under the oversight of the Board, implements the Board’s ESG strategy and policies to drive sustainable initiatives throughout our operations, including safety, environmental protection, staff welfare, community engagement and volunteering. The ESG Task Force is also responsible for optimising environmental performance, raising staff awareness on corporate social responsibilities, sharing knowledge and industry best practices and working with the Enterprise Risk Management Task Force of the Company to assess new and emerging ESG-related risks. The Group’s Enterprise Risk Management System adopts a systematic approach and uses a set of consistent risk assessment criteria to identify and manage risks. Accurate risk information is provided for the Management to assist them in decision-making and risk control without compromising cost- effectiveness and efficiency. In addition, with the Enterprise Risk Management System, the Management monitors and reviews risk levels of various issues that might impact the Group, including climate change, to ensure that risk exposure remains at an acceptable level. A Key Risk Indicator Report (“KRI Report”) summarises the Group’s major risks identified by the Management and is submitted to the Audit and Risk Management Committee three times a year. The KRI Report provides a comprehensive profile of the major risks and the mechanisms established by the Management for monitoring these risks. For details of our corporate governance, please refer to pages 130 to 153 of our 2023 Annual Report.