Sustainability Report TCFD RECOMMENDED DISCLOSURES Our Approach Reference Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario To ensure that our sustainability strategy remains resilient, we model our sustainability program against internationally-accepted standards. • Megachem is a member of the Responsible Care® program - a global environmental, health and safety (EHS) performance initiative for the chemical industry, • Our Environment, Health and Safety Management System is audited by a thirdparty accredited certification body in accordance with ISO 14001 standard. • We subject our sustainability practices to annual assessment by EcoVadis Sustainability Assessment System – an assessment system used widely in the chemical industry and assesses companies in the areas such as environment protection, labour practices, fair business practices and sustainable procurement • Under Singapore’s Green Nation Pledge program, we pledged to adopt environmental-friendly best practices to make our country a greener place. It marks our commitment in joining our nation to build a better and greener future. • We are a member of Roundtable on Sustainable Palm Oil (RSPO) – an organization that brings together stakeholders across the supply chain to develop and implement global standards for producing and sourcing certified sustainable palm oil. Megachem will explore the use of climate scenario analysis in the subsequent sustainability reporting. Sustainability Report - External Charters, Principles, Certification - Green Nation Pledge Risk Management Addressing the risks and managing the potential impact of those risks supports Megachem’s achievement of their objectives. TCFD RECOMMENDED DISCLOSURES Our Approach Reference Describe Megachem’s processes for identifying and assessing climate related risks Our Sustainability Committee identified and assessed the material climate-related risks based on feedback garnered from our stakeholders and internal reviews. Sustainability Report - Materiality Assessment Describe Megachem’s processes for managing climate-related risks The Board is responsible for the governance of risk across the Group, while ensuring that management maintains a sound system of risk management. The Management shares and discusses with the Board annually its significant risk issues and how these risks can be managed. Sustainability Report - Megachem Sustainability Strategy Describe how processes for identifying, assessing, and managing climaterelated risks are integrated into Megachem’s overall risk management Managing climate-related risks and opportunities is a key component of Megachem’s ERM framework. Having identified the risks, processes are implemented to manage the risks. These processes are designed by adopting internationally recognised standards such as ISO management system and EcoVadis Sustainability Assessment System. Sustainability Report - Megachem Sustainability Strategy 96 ANNUAL REPORT 2024
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