Annual Report 2023

62 2023 Annual Report Transport International Holdings Limited SUSTAINABILITY REPORT Adopting TCFD Reporting The Task Force on Climate-related Financial Disclosures (“TCFD”), developed by the Financial Stability Board (“FSB”), aims to provide a framework for climate-related reporting and offers recommendations on the type of information companies should disclose to better inform investors and other stakeholders of the potential risks and opportunities associated with climate change. TIH adopted the framework recommended by TCFD, discussing in detail the risks and opportunities associated with climate change, the potential impact on our business, and the actions we are taking to cope with these risks and opportunities. TIH is committed to communicating our approach and strategies through the TCFD’s four thematic areas: governance, strategy, risk management, and metrics and targets. Governance The overall strategic planning and accountability for the Group’s sustainable development rests with TIH’s Board- level Committee, which determines the sustainability strategy and oversees its progress. The Board-level Audit and Risk Management Committee is appointed to oversee strategic ESG-related issues concerning TIH, including climate-related strategies, policies, actions and disclosures. It informs the Board of the strategic risks and opportunities presented by climate change, which forms part of the Board’s discussion of TIH’s strategic plans. Our ESG Task Force, under the oversight of the Committee, 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 of corporate social responsibilities, sharing knowledge and industry best practices and working with the Enterprise Risk Management Task Force of the Company to assess new emerging ESG-related risks. Our Vision and Strategy To ensure our business remains resilient against climate change, we consider potential impacts on different business units and develop plans to mitigate and adapt to climate change. When refining our business strategy, the Group recognises that sustainable development is crucial for long-term success. The Group has identified physical risks, including more frequent extreme weather events, and transition risks, such as regulatory changes and customer