Social

Risk or Opportunity and Rationale

Risk: Violation of human rights could attract regulatory actions and disrupt business operations. Such incidents can lead to reputational damage and bring in monetary penalties. Further, they can affect employee morale and indirectly contribute to attrition, which can also pose a risk to business operations.

Mitigation measures

• The Human rights strategy is aligned with the UN Guiding Principles, integrating human rights policies in our business operations
• Human rights due diligence is carried out for our business operations and supply chain on a regular basis
• Human rights assessments are performed involving all stakeholders
• All operational sites and offices are assessed for issues related to child labour, forced labour, involuntary labour, sexual harassment, discrimination, and equitable wages
• An inclusive environment is cultivated that values diverse employee skills and abilities
• Responsible recruitment practices are implemented for hirings
• Suppliers are evaluated on their adherence to human rights practices prior to engagement
• Access to quality healthcare is provided to communities
• A robust grievance mechanism implemented to address concerns of stakeholders
• Internal audits are conducted to ensure compliance

Risk or Opportunity and Rationale

Risk: Occupational health and safety risks may lead to business disruptions, employee absences, and decreased productivity. These issues may have direct implications on the financial performance due to decreased output, higher insurance premiums and compensation costs.

Mitigation measures

• Adopted a robust Safety Management System, covering Group/Business/Site Occupational Health and Safety guidelines, governance model, standard operating procedures, RACI (responsible, accountable, consulted, and informed) matrix, strategic goals and objectives alongside ten lifesaving safety rules
• Emphasised on Process Safety Management (PSM) and the cultivation of safety leadership across all organisational levels
• Ensuring zero harm, enhancing the ability to identify hazards, manage risks, uplift industrial hygiene and workplace health, execute emergency response protocols, and regulate contractor safety standards effectively
• Deliver safety training that includes not only traditional methods but also cutting-edge, simulator-based programmes

Risk or Opportunity and Rationale

Risk: Key risks are legal noncompliance, penalties or lockdown. employee dissatisfaction, and potential disruptions like strikes or disputes.

Opportunity: Effective labour relations management leads to a greater opportunity to improve productivity and create value for the stakeholders. It lowers the risk of disruptions in operations and regulatory actions and creates a good perception about the company in the community.

Mitigation measures

Mitigation measures involve strong legal compliance, open communication, regular engagement, and proactively addressing issues to prevent them from escalating.