Sustainability Governance and Responsibility
Our sustainability governance structure ensures strong oversight and execution of sustainability-related strategies. Across the Group, we have clear functions in place, with specific roles and responsibilities to efficiently address our ESG risks and opportunities.
Our governance structure includes
- senior management responsibilities for the implementation of the bank’s ESG strategy
- senior management's responsibilities for the management of climate change risks and opportunities relevant to the bank's activities
- roles and responsibilities of the various departments, committees or teams involved in developing and implementing
The details are articulated below
We have identified the relevant departments within each line of defence which are responsible to put in place the internal controls in relation to ESG risks:
The auditing aspects of the sustainability related policies and procedures would be under the purview of the Group Internal Audit Department. The inaugural audit was conducted in 2020.
Implementation of Sustainability-related Policies and Procedures
The Group Sustainability Department will oversee the implementation of Sustainability related policies and procedures. Sustainability Sponsors will review the effectiveness of relevant policies, guidelines and processes based on Sustainability Matters and the implemented initiatives.
Sustainability capability building and awareness across all levels is key to ensure the success of the Group Sustainability Agenda.
Key Performance Indicators (KPIs)
The Group Sustainability Framework requires sustainability key performance indicators (KPIs) be set across the organisation with sustainability-related criteria and will be embedded in the scorecards for performance assessment across the Group. As of now, sustainability KPIs have been embedded into the scorecards of the Group CEO, C-Suites, Sustainability Champions and other relevant staff.