RISK APPETITE Fostering Growth & Resilience Resilient Balance Sheet Good Financial Performance Sound Business Decisions Risk Appetite Statements Types & Aggregate levels of risk that the Group is willing to accept in pursuit of business objectives Achieving our Group Aspiration and Maximising Stakeholders' Value strategic principles, then translated into risk tolerances to guide tactical risk-taking at the operational level. Risk tolerance sets the boundaries of acceptable variation in performance in line with the risk appetite for each underlying key risk. Strategic We are committed to pursuing sustainable and inclusive growth to enhance our competitive advantage whilst upholding our core values. ESG We subscribe to ESG best practices to benefit all stakeholders. Financial • We aim to maintain a resilient balance sheet. • We have a defined governance framework to evaluate and approve all investment and business transactions. Regulatory Compliance • We comply with all applicable laws and regulations in the countries where we operate in. • We adopt a zero tolerance policy towards fraud, bribery and corruption. Operational • We are committed to “Safety Before Profits”. • We aim to achieve zero accidents at the workplace. IT and Cyber We are committed to protecting our data and systems including those entrusted to us by adopting best practices in cybersecurity. During 2022, the Group’s risk appetite and risk tolerance principles have been communicated to all employees through EXCO video messages and infographics, with the aim of aligning all managers and executives with a consistent set of operating parameters and directing them to appropriate reporting channels and resources when in doubt. For instance, our Group’s commitment to “Safety Before Profits” sets the tone for a holistic management of total workplace safety and health issues and underscores a focus to provide safe and healthy working conditions for the prevention of work-related injury and ill health for all our employees and visitors. This is supported by the Operational Excellence Specialist Team on Workplace Safety & Health (OEST - WSH) which oversees and coordinates efforts group-wide to ensure the effective implementation of our WSH Management System. The RSC provides oversight to the Group by reviewing the Risk Appetite Framework and risk tolerance limits. These limits are subject to periodic reviews to take into consideration significant changes in the business environment, ensuring that they continue to support the Group in achieving its strategic objectives. CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 99
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