KENANGA INVESTMENT BANK BERHAD SUSTAINABILITY REPORT 2024 BASIS OF THIS REPORT OUR APPROACH TO SUSTAINABILITY KENANGA AT A GLANCE GOOD GOVERNANCE LEADERSHIP STATEMENTS SUSTAINABLE ECONOMIC GROWTH ENVIRONMENTAL STEWARDSHIP EMPOWERING PEOPLE AND COMMUNITIES APPENDIX 3 2 BASIS OF THIS REPORT BASIS OF THIS REPORT Kenanga Investment Bank Berhad (“KIBB”) and its subsidiaries (“Kenanga” or “the Group” or “Kenanga Group”) presents its fourth standalone Sustainability Report for the financial year 2024 (“FY2024”). This Report complements the Sustainability Statement within our Integrated Annual Report 2024. This Report details our management approach to key environmental, social, and governance (“ESG”) issues, performance, and goals that are relevant to our business and stakeholders. It charts our progress in embedding sustainability into our strategies, business practices, products, and services to deliver long-term value to our stakeholders. In FY2024, we enhanced our disclosures by expanding our Scope 3 coverage to include emissions from Category 15— Investments, which covers our Financed and Facilitated Emissions, establishing a more comprehensive baseline for greenhouse gas emissions (“GHG”). Additionally, we conducted our first double materiality assessment, providing deeper insights into the financial and environmental impacts of our operations and sustainability efforts. Reporting Scope and Boundaries This Report includes data for the full fiscal year, from 1 January 2024 to 31 December 2024 (“2024” or “FY2024”), covering our operations in Malaysia, including our headquarters, at Kenanga Tower, in Kuala Lumpur and our branches nationwide, unless stated otherwise. All monetary values are reported in Malaysian Ringgit (“RM”). Guidelines and Standards This Report complies with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) and has been prepared with reference to the Global Reporting Initiative (“GRI”) Standards 2021. The full GRI Content Index can be found on pages 109 to 112 of this Report. To fulfil the membership requirements of the UN Global Compact (“UNGC”), this Report also serves as our Communication on Progress (“CoP”). This Report is also being prepared to meet the applicable requirements set forth by the National Sustainability Reporting Framework (“NSRF”), which will be implemented in phases starting from 1 January 2025. Under the NSRF, the International Sustainability Standards Board (“ISSB”) and IFRS Foundation’s International Financial Reporting Standards (“IFRS”) S1 and S2 will be the reference disclosure standards for companies in Malaysia. As we adopt a gradual approach to climate-related disclosures, we will continue aligning our climate reporting with the Task Force on Climate-related Financial Disclosures (“TCFD”) recommendations, ensuring compliance with local regulatory requirements. To improve the transparency of our reporting, the ESG disclosures within this Report have been aligned more closely with the following applicable local and global sustainability frameworks, standards and guidelines: • Bursa Malaysia Sustainability Reporting Guide (3rd Edition) • the United Nations Sustainable Development Goals (“UN SDGs”) • Bank Negara Malaysia’s Climate Change and Principle-based Taxonomy (“BNM CCPT”) • the UNGC’s Ten Principles • the Malaysian Code of Corporate Governance (“MCCG”) by the Securities Commissions Malaysia (“SC”) We have also benchmarked our disclosures and indicators against internationally recognised ESG ratings and frameworks, particularly the Financial Times Stock Exchange (“FTSE”) Russell’s ESG Ratings and the Sustainability Accounting Standards Board (“SASB”) indicators. We calculated our GHG emissions using the GHG Protocol Corporate Standards for Scope 1, 2 and 3 and Partnership for Carbon Accounting Financials (“PCAF”) for the calculation of Scope 3, Category 15 – Investments. This international framework, developed by the World Business Council for Sustainable Development (“WBCSD”) and World Resources Institute (“WRI”), provides guidance and standards for organisations to prepare a GHG emissions inventory. Reporting Assurance This Report, along with the Sustainability Statement 2024, has been reviewed and approved by the Group Sustainability Management Committee (“GSMC”), Group Governance, Nomination & Compensation Committee (“GNC”), Audit Committee (“AC”), and the KIBB Board of Directors. We appointed SIRIM QAS International Sdn Bhd (“SIRIM”), a leading national certification, inspection and testing body, to provide assurance for the selected key indicators in this Report related to energy management, GHG emissions (Scope 1 and Scope 2), water consumption, employee workforce profile, as well as training and development data. In 2024, we expanded the scope of assurance to include performance appraisals, new hire and employee turnover rates data. We strive to expand the scope of assured data in future reports while continuously refining our data collection processes to enhance disclosures. Extract of SIRIM Independent Assurance Statement: Based on the scope of the assessment process and evidence obtained, nothing has come to our attention that causes us to believe that KIBB has not complied with, in all material respects, the referred assurance standard and guide. The following represents SIRIM QAS International’s opinion: • The level of data accuracy included in the report to be fairly stated. • The level of disclosure of the selected sustainability performance information presented in the report to be properly prepared. • The personnel responsible were able to demonstrate the origins and interpretation of data contained in the report. Materiality This Report was prepared based on the material matters identified through our double materiality assessment, which was conducted for the first time in 2024, in response to the evolving business landscape and stakeholder demands. Following the assessment, we identified and added two (2) new material matters—Financial Inclusion and Risk Management—to our list of material matters. Feedback and Accessibility We welcome your comments and feedback. Please send them to: Group Marketing, Communications and Sustainability Kenanga Investment Bank Berhad Level 17, Kenanga Tower, 237, Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia Tel: +603-2172 2888 Email: sustainability@kenanga.com.my Our Sustainability Report 2024 is also available on our corporate website: https://www.kenanga.com.my/who-we-are/sustainability Forward-Looking Statements Disclaimer This Report contains forward-looking statements regarding future performance, based on current assumptions and circumstances. Various factors—such as changes in stakeholders’ ESG priorities—may cause actual results to differ materially from those expressed or implied in these statements. As such, the relevance of forward-looking statements will be reviewed in future reports as needed. SCAN HERE for more information and downloads. For more information on how we manage our material matters, please refer to pages 18 to 23 of this Report. For the full SIRIM Independent Assurance Statement, please refer to pages 117 to 120 of this Report.
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