Sustainability Assurance

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Sustainability
Management

Sustainability assurance is a crucial process that enhances the credibility and reliability of company sustainability practices. It involves on the evaluation of Company sustainability process, data and disclosures to ensuring that the information presented is accurate, comprehensive, and aligned with recognized standards and frameworks. This process not only builds trust with stakeholders, but also supports the organization’s efforts in achieving long-term sustainability goals.

Three-line defense of ESG management

The Three Lines of Defense model is a widely recognized framework for managing risks, including those related to Environmental, Social, and Governance (ESG) factors. Here’s how it applies to ESG management

• First Line of Defense: Operational departments
• Role: To be responsible for identifying and managing ESG topics within their respective areas. This includes the day-to-day management of ESG topics, ensuring compliance with internal policies and external regulations, and integrating ESG considerations into business operation.
• Second Line of Defense: Corporate office
• Role : To provide oversight and support to the first line, involving specialized functions , establishing ESG topics policies and offering guidance and training to operational management. The second lines also play an important role in communication by bridging the gap between strategic oversight and operational execution. It ensures that ESG policies, standards, and practices are effectively communicated across the company,
• Third Line of Defense: Sustainability Assurance
Role: To provide quality assurance reviews (QAR) on the effectiveness of ESG management and control processes. This department evaluates the adequacy and effectiveness of both the first and second lines of defense. It conducts audits and reviews of ESG practices,
In addition to internal reviews, the company hires independent third-party auditors to conduct external assurance. These auditors assess the sustainability data and disclosures against established standards and frameworks, providing an objective evaluation that boosts the credibility and transparency of the company’s sustainability report for stakeholders
• reports findings, and recommends improvements to enhance ESG management.

Sustainability Process Assurance

Sustainability process assurance is a practice that involves evaluation of Company ‘s sustainability processes to ensure they are effective, reliable, and aligned with established standards and frameworks. In terms of internal audit, the responsible function will internally audit whether the processes are in accordance with the policies or procedures announced by the Corporate office. In terms of external audit , It will be conducted by an external party that based on international standards such as ISO , GRI, etc.
Sustainability Data Assurance

Sustainability data assurance is the process to verify and validate the accuracy, completeness, and reliability of the presented data. This ensures that the information used to disclose is consistent and credible. In the current practices of the Company, sustainability data assurance in both internal and external audits are based on the GRI standard. In terms of internal audit, they are under the responsibility of the Sustainability Assurance function. In terms of external audits, they are under the responsibility of the Corporate Sustainability function, which hires third parties to verify data to ensure compliance with standards.