FIMA CORPORATION SUSTAINABILITY REPORT 2019

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Governance
Many of our activities are highly regulated by
laws and regulations relating to health, safety,
environment and community impacts. We are
committed to complying with the laws and regulations of
the countries in which we conduct business and, where
applicable, to exceeding legal and other requirements
that are less stringent than our own because we believe
high governance standards are integral to ensuring the
Group’s future viability and maintaining our social license
to operate.
We have a comprehensive system of stewardship
and accountability that meets the requirements of all
applicable rules, regulations, standards and internal and
external policies.
Our diverse and highly engaged Board of Directors brings
a range of viewpoints and deep expertise that helps
ensure effective oversight of our strategic priorities and
operations, having regard to the interests of shareholders,
customers, suppliers and the wider community. The Board
is supported by dedicated Board committees, each with
its own charter setting out its roles and responsibilities.
The Group Sustainability Committee steers our
sustainability activities and is presently chaired by a
Senior Independent Non-Executive Director of FimaCorp
thus ensuring that we have Board-level oversight of the
critical sustainability issues affecting the business and
how they should be managed. At management level, the
Heads of Division comprises the Group’s most senior
executives. There is a delegation of authority framework
that clearly outlines those matters delegated to the
Accountability and reporting
Delegation and oversight Delegation and oversight
Accountability and reporting Accountability and reporting
The Board delegates powers to the Managing Director for all matters
except those reserved for the Board or its Board Committees
The Company Secretaries role is to support the Board and
it’s Committees
Sets the direction and
translates Group’s strategy
into clear expectations,
standards of performance and
behaviour for their division
board of directors
company secretaries
senior management
independent
assurance
audit
committee
nomination &
remuneration
committee
other
committees
managing director
risk management committee
Group sustainability committee
disclosure committee
ad-hoc committees & teams
heads of divisions
- Internal auditor
- External auditor
- Legal & professional
advisor
Managing Director of FimaCorp and other members of
senior management. In addition, ad-hoc committees are
established to deal with particular sets of ongoing issues.
The business units are also responsible for adopting
sustainability strategies to their operating needs, as well
as providing the resources needed for its implementation.
They align their brands, technologies and sites involved
in sustainability with the specific challenges and priorities
of their business portfolio. In addition, our suppliers and
contractors are also required to observe the Group’s
commitments on issues such as health and safety,
environment, human rights and local labour laws.
The Corporate Governance Overview section can be read
in our Annual Report and website at
com/corporate-governance which lays out our principles
and policies in greater detail.
We also require all our business units to implement
appropriate levels of risk management to ensure
compliance with all relevant legislation, health, safety and
environment policies, our overriding business principles
and Group policies relating to them, taking into account
business needs and local circumstances.
Each business has developed and documented policies
and procedures to comply with the minimum control
standards established over specified processes, including
procedures to mitigate risks, monitoring compliance
and taking corrective action. Further details of our risk
management can be found in the Statement on Risk
Management and Internal Control section in the Annual
Report.
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Fima Corporation Berhad (21185-P)
SUSTAINABILITY Report 2019