Page 173 - SC SCAR 2023 ENGLISH Flipbook
P. 173

                                Additionally, in respect of the underserved, the SC will continue to develop programmes to further foster financial literacy of targeted groups. As a responsible corporate citizen, the SC will also support the community through a blend of philanthropic and non-philanthropic initiatives.
A robust sustainability governance framework is essential to ensure appropriate accountability, oversight and review of sustainability-related matters within the SC.
To strengthen the governance of sustainability-related matters, the SC had in 2023 established a Board Sustainability Committee (BSC) which is responsible for providing oversight on sustainability and ESG-related strategies and initiatives, as well as oversight on the formulation of the SC’s internal policy positions on sustainability and ESG-related matters for the SC as an enterprise. The BSC may also provide oversight on the SC’s sustainability and ESG-related strategies and policy positions to regulate and develop the capital market.
At the Senior Management level, the SC has established a Sustainability Steering Committee (SSC) to guide and monitor key sustainability and ESG-related matters for the SC. The SSC is supported by the SC’s Enterprise Sustainability Department, which serves as a focal point to drive and support the implementation of sustainability and ESG-related sustainability strategies for the SC, including those identified in the SFI Roadmap.
Climate-Related Risks and Opportunities
The SC has established processes to identify, assess and manage material enterprise climate-related risks and opportunities. As part of the SFI, this includes Scenario Analysis which helps the SC as an organisation navigate uncertainties by considering two plausible scenarios for 2050 – a 2oC and a 4oC scenario, along with the relevant driving forces.
The SC has also assessed the impact and likelihood of the enterprise climate-risks under both plausible scenarios. Relevant outcomes will be incorporated into the SC’s strategic planning and risk management practices where appropriate.

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