Annual Report 2020

2020 Annual Report Transport International Holdings Limited 43 Brand Hong Kong Service Awards 2020 – Apps Award from East Week; Health Partnership Awards 2020 from ET Net; Gold in the Public Transport category of the 2020 Reader’s Digest Trusted Brands Awards; Top Service Awards 2020 – Public Transportation from Next Magazine; Honour Awards for Traditional Annual Reports and Written Text for the TIH 2019 Annual Report in the Transportation and Leasing category of the International ARC Awards; and Silver Award in the Transportation & Logistics category in the Vision Awards from the League of American Communications Professionals LLC. Sustainability Governance With a commitment to conducting our businesses in line with the best corporate governance practices, we aim to achieve sustainable business development by considering the interests of our stakeholders, while ensuring compliance with legal and regulatory requirements. The Group has adopted an integrated management approach to guide the sustainable development of the Group based on the principles of integrity, equity and transparency. This integrated management approach is strengthened by on-going staff training and communication with all stakeholders. The board of directors of TIH (the “Board”), as the highest governance body, is responsible for promoting the long-term development of the Group and for growing shareholder value. The Board currently comprises nine non-executive directors, five independent non-executive directors and one executive director. The biographies of our current directors can be found on pages 136 to 142 of our 2020 Annual Report. The overall strategic planning and accountability for the Group’s sustainable development rests with our Board-level Committee, which determines the sustainability strategy and oversees its progress across the Group. Under the oversight of the Committee, we have an ESG Task Force to implement the Board’s ESG strategy and policies in driving sustainable initiatives throughout our operations, including safety, environmental protection, staff welfare, community engagement and volunteering. The Task Force members are responsible for optimising environmental performance, increasing staff awareness on corporate social responsibilities, and sharing knowledge and best practice with the industry and working with the Enterprise Risk Management Task Force of the Company to assess new and emerging ESG-related risks. The Group’s Enterprise Risk Management System uses consistent risk assessment criteria to provide a systematic approach to the timely identification and management of risks. Accurate and concise risk information is made available to assist management in decision-making and risk control by adopting risk treatments of cost-effectiveness and efficiency. Meanwhile, with the Enterprise Risk Management System, the management monitors and reviews risk levels, including climate change related risks, to ensure that risk exposure remains within an acceptable level. A Risk Key Performance Indicator Report (“Risk KPI Report”), summarising the Group’s major risks as identified by management, is submitted to the Audit and Risk Management Committee three times a year. The Risk KPI Report provides a comprehensive profile of the major risks and the mechanism established by management for monitoring these risks. For details of our corporate governance, please refer to pages 110 to 131 of our 2020 Annual Report.