AN OVERVIEW OF BOUSTEAD PLANTATIONS’ STATEMENT OUR APPROACH TO SUSTAINABILITY Achieving growth that is profitable as well as socially and environmentally responsible continues to be a key driver for Boustead Plantations Berhad (BPlant or the Company and its subsidiaries collectively referred to as the Group). In view of the potential impact of our business activities and operations as an upstream oil palm plantation company, we remain firmly committed to addressing sustainability challenges with the highest integrity and transparency in order to provide optimal value creation for all stakeholders. As a member of the Roundtable on Sustainable Palm Oil (RSPO) since 2004, BPlant’s business units have progressively acquired RSPO certifications since 2011 with 60% certification attained by 2023. In keeping with our sustainability commitment, we have facilitated and funded the Supplier Support and Development Program to support FFB suppliers at Telok Sengat Palm Oil Mill in their efforts to achieve RSPO certification by the second quarter of 2024. Partnering with Wild Asia, we engage with our external crop suppliers, including smallholders, to provide financial assistance and comprehensive training programmes. These initiatives underscore our dedication to empowering our supply chain partners to elevate their sustainability standards. We are also pleased to highlight that all our business units acquired the Malaysian Sustainable Palm Oil (MSPO) certification in 2019, reflecting our environmental, social, and governance (ESG) values. Furthermore, our sustainability mission is guided by the United Nations’ Sustainable Development Goals (UNSDGs). Our concerted efforts to improve our ESG rating through enhanced disclosures led to a rise in our Sustainability Policy Transparency Toolkit (SPOTT) rating from 61.2% to 65.4% in 2023. Similarly, our FTSE4Good Bursa Malaysia rating increased from 3.1 to 3.4. These improvements are indicative of our focus on continuous enhancement throughout our sustainability practices. During the financial year under review, our primary focus shifted towards enhancing the transparency and traceability of our supply chain as we continued preparations to meet the compliance requirements of the European Union Deforestation Regulation (EUDR) in anticipation of its enforcement of deforestation-free supply chains. To ensure our entire value chain operates responsibly, we intensified engagements with our fresh fruit bunch (FFB) suppliers. By the end of 2023, we successfully achieved pledges of commitment from 85% of the 55 active FFB suppliers identified, while 67% of them provided their supplier information, enabling the Group to realise our goal of heightening the importance of traceability among our FFB suppliers. In striving to improve our greenhouse gases (GHG) emission data collection, we are committed to the 12th Malaysia Plan’s goal of achieving net zero emissions by 2050. Part of this effort entails monitoring our GHG data according to the GHG Protocol shifting away from solely relying on the RSPO PalmGHG calculator. The Group is pleased to report that we achieved zero fatalities in the reporting year. In our ongoing drive to provide a safe working environment for our employees, we conducted several occupational safety and health (OSH) coordinator training sessions. We have enhanced a centralised data collection to optimise the effectiveness of our current OSH committees and to drive further improvements in our Lost Time Injury Frequency Rate (LTIFR) metrics. In 2023, we initiated a toy collection campaign to bring joy to the children of our employees by donating toys to the creche at our Boustead Tawai Business Unit. Additionally, the establishment of a centralised Gender Committee underscores our commitment to enhancing and empowering women within our organisation. REPORTING SCOPE AND BOUNDARY The Group’s sustainability statement contains data and information in respect of the financial year ended 31 December 2023. It includes subsidiaries in which we own a majority share and have a significant influence, across business segments, namely Plantations, Palm Oil Mills, and Research and Development. 3 Research & Development 1 Plantations 2 Palm Oil Mills Boustead Plantations Berhad 134
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