Sustainability is core to our business
decision-making and activities, as we seek to create long-term positive impacts on people and the
planet. As such, we strive to embed EES considerations in our business management and daily
operations. We also review our sustainability approach from time to time to ensure that our strategy
remains relevant to current trends in order to mitigate risks and identify opportunities.
In 2022, we bolstered our sustainability
approach with a new Sustainability Framework and enhanced our Sustainability Governance to include
sustainability oversight at the Board level. The Board Sustainability Committee was established to
guide S P Setia’s strategic direction, and oversees sustainability strategy, direction, performance
and risks. The new sustainability approach will pave the way for S P Setia to prepare and respond to
changes in the market and stakeholder expectations. This includes enabling the organisation to
implement a circular economy as part of the Group’s overall sustainability plan and ensuring
compliance with regulatory requirements.
The new Sustainability Framework aims for the
Group to better drive sustainability to create sustainable communities. Approved and validated by S P
Setia’s Senior Management and the Board, the new Sustainability Framework is anchored on three robust
pillars, with each pillar aligned with identified key material matters. Furthermore, the
Sustainability Framework also integrates Setia’s Vision and Mission, ensuring our business operates
with sustainability at its heart.
We have also selected 15 United Nations
Sustainable Development Goals (“UN SDGs”) that are aligned with the key material matters and the
pillars. Going forward, we will keep reviewing and updating our sustainability approach to align with
the rapid development of the sustainability landscape, and to mitigate risks and identify
opportunities to ensure the sustainability of the business.