- SUSTAINABILITY FRAMEWORK
- GOVERNANCE STRUCTURE
- STAKEHOLDER ENGAGEMENT
- BUSINESS ETHICS AND COMPLIANCE
Our overarching sustainability priorities and approach to Economic, Environmental and Social (“EES”) risks and opportunities are defined by our “Responsible Actions, Sustainable Future” approach. This approach further outlines our commitment to be ‘Economically Productive, Environmentally Protective and Socially Proactive’ with respect to people, communities and the environment.
(updated as of Aug 2020)
*Due to health, safety and hygienic concerns to curb the spread of COVID-19 pandemic, some of the Material Topics from Y2019 such as GRI 413: Local Communities (under ‘Our People and Community’ pillar) and GRI 301: Materials (under ‘Our Environment’ pillar) were deprioritised for Y2020.
^For more information about ‘Economic Performance’, click here.
(based on the latest materiality assessment as of Aug 2020)
Sound corporate governance is essential in positioning and prioritising sustainability within an organisation. At Tune Protect, our commitment to sustainability starts at the top, with our Board of Directors (“the Board”) that is committed to provide strategic guidance, oversee the management and uphold our responsibilities to our stakeholders. The Board is accountable for the Group’s sustainability strategy and reviews all major disclosures and key sustainability-related matters.
The Sustainability Committee (“SuCom”) was formally established in 2017 and is chaired by Group Chief Executive Officer. Since its establishment, SuCom is responsible to oversee all sustainability matters and plays a vital role in providing regular feedback and recommendations to the Board, that is ultimately accountable to our stakeholders. As part of SuCom’s mandate, materiality assessments will be undertaken at least once every two years to ensure robust management of sustainability matters that align with stakeholders’ priorities. SuCom convenes once a month and reports sustainability progress to the Board on a quarterly basis.
The Corporate Development and Investor Relations (“CDIR”) Department serves as a secretariat for SuCom, a gatekeeper and liaison between SuCom and business units. The CDIR Department is responsible for overall sustainability management and reporting, including driving initiatives, monitoring deliverables and monthly reporting. The CDIR Department is the contact point for external stakeholders such as analysts, investors and media who are keen on gaining more insights and understanding of the Company’s sustainability directions and initiatives. The CDIR Department actively updates and provides recommendations to SuCom for sound decisions-making or further recommendations to the Board.
Business units are responsible for data collection for sustainability reporting and the implementation of sustainability-related initiatives and under the coordination of the CDIR Department.
Read more from our Group Sustainability Policy here.
At Tune Protect, we strive to create a shared value among our shareholders. We regularly engage with our stakeholders to understand and address their evolving priorities. We employ a variety of mechanisms for engagement to gain a holistic picture of the sustainability matters that are of utmost concern to our diverse stakeholders, who comprise of customers, regulators, government bodies, shareholders, investors, analysts, employees, agents and intermediaries, local communities, media and business partners.
Below is a list of our stakeholders and how we engage them.
|Stakeholder Group||Modes of Engagement||Frequency of Engagement|
|Customers||Customer Service Centre||Location and operating hours available on the corporate website|
|Customer satisfaction survey||Available immediately to customers who make online purchases through the B2C platform|
|Print publications i.e.: newspapers, magazines, etc.||As and when|
|Digital platforms i.e.: Business-to-Consumer (“B2C”) and
|Social media platforms||24/7|
|Regulators and government bodies||Compliance with listing and regulatory requirements||On-going|
|Off-site correspondence and monitoring via letters, emails and calls||As required|
|On-site review and meetings||Scheduled/Ad-hoc|
|Shareholders, investors and analysts||Annual General Meeting (Annual Reports, Shareholders’ Circulars, Corporate Governance Reports)||Annually|
|Analyst briefings (analyst presentation slides, financial statements)||Quarterly|
|Regular dialogues (one-on-one and group meetings, conferences, roadshows, Bursa announcements)||Ad-hoc basis|
|Investor Relations website||24/7|
|Credit Rating exercise (press release)||Annually|
|Employees||Code of Conduct Month||Annually|
|Internal engagement activities (including town hall meetings, team building, newsfeeds on Workplace @ Facebook, workshops)||Quarterly/Periodic|
|Policies and procedures||The Company’s intranet|
|Agents and intermediaries||Training and awareness||Annually (20 hours)|
|Awards and recognition||Monthly|
|Local communities||Community activities||Refer to “Local Communities” section on Annual Report 2019 pages 46 to 48|
|Strategic community investments through partnerships||Refer to “Local Communities” section on Annual Report 2019 pages 46 to 48|
|Media||Media engagements||As required|
|Media interviews and Press releases||Twice per quarter|
|Meetings (face-to-face and group briefing meetings)||Annually|
Tune Protect is a financial holding company listed on the Main Market of Bursa Malaysia and complies with the Financial Services Act 2013 under the purview of Bank Negara Malaysia and Bursa Malaysia’s Main Market Listing Requirements. We operate with high integrity, transparency and good business ethics across the organisation.
We have within us a formal Code of Conduct (“CoC”) and various other policies pertaining to conflicts of interest, anti-harassment, equal opportunity and whistleblowing. Read more about our policies here.
The CoC and Group-wide policies lay the foundation for long-term trusting relationships with our colleagues, customers and partners, our approach to sustainability as well as ensure that we are aligned and working within the same parameters. The CoC covers three aspects:
- Respect in Our Workplace that defines the best interaction manner in the workplace;
- Respect for Our Business Partners which guides us on how we engage with external parties; and
- Respect for Our Shareholders that summarises our commitment towards ensuring shareholder value.
The CoC demonstrates our commitment to doing business the right and ethical way.
We comply with all applicable laws and regulations in every jurisdiction that we operate in. We have zero tolerance for fraud, corruption and violation of laws and regulations. The tone for adherence on compliance and regulation matters are set right from the top, at the Board.
The management of compliance is governed and supported by the Compliance Management Framework which is a Board-approved framework that outlines the structure and key processes for identifying and ensuring compliance with applicable legislations, regulatory requirements, and internal policies and procedures. The Compliance Department directs and supports the development of overarching compliance policies and procedures while facilitating the implementation of policies and procedures across the Company. Business units are responsible for the implementation of the CoC as well as regulatory compliance policies and programmes.
Besides that, we have in place a Risk Management Framework with the objective of institutionalising vigilance and awareness of the management of risk across the Group. This framework provides a concise and holistic documentary standard as a single point of reference which outlines the broad overarching framework in providing direction for the management of all risk elements that the Group is exposed to. This framework addresses structure, people, policies, processes and activities required for the Company to manage key risks. Mandatory training and assessments for employees in the areas of workplace integrity have been part of our risk management strategy.