MASTEEL SUSTAINABILITY
Risk Management
We have been upholding a resilient Risk Management Framework (“RMF”) designed to proactively identify, assess, and mitigate risks across economic, environmental, social, and operational domains in Masteel in ensuring business continuity and long-term value creation. Our Risk Management Committee (“RMC”) plays an important role in overseeing risk governance, adhering to an Enterprise Risk Management (“ERM”) approach that safeguards against financial losses, reputational damage, and operational disruptions while embedding risk considerations into corporate strategy and decision-making.
Recognising the growing impact of sustainability risks, we expanded our risk management scope in FY2022 to include climate-related risks, aligning with the Task Force on Climate-Related Financial Disclosures (“TCFD”) framework. In FY2023, with the establishment of the International Sustainability Standards Board (“ISSB”) and the introduction of IFRS S1 and S2 disclosure guidelines, we further strengthened our commitment to transparency in sustainability related financial reporting, ensuring alignment with evolving global standards.
In ensuring that Masteel remains resilient in an evolving global landscape, the RMC systematically identifies, evaluates, and mitigates risks related to climate change, regulatory shifts, resource scarcity, carbon transition, and other sustainability concerns. The RMC provides quarterly risk updates to the Board of Directors to strengthen governance and accountability, integrating emerging risks and response strategies into corporate oversight. Our risk management disclosures adhere to IFRS S1 (General Requirements for Sustainability-Related Financial Disclosures) and IFRS S2 (Climate-Related Disclosures), providing stakeholders with comprehensive, reliable, and comparable insights into our risk mitigation efforts and sustainability strategies. For further details on our risk management initiatives and sustainability risk integration, please refer to the IFRS S1 and S2 report (page 129) and our Annual Report.