Minor International Public Company Limited

Commitment to sustainability is anchored at the highest levels of Minor. Our efforts to embed sustainability in all business units continue to receive strong support from the Board of Directors and senior management.

Minor Sustainability Governance Structure & Roles

Minor’s Sustainability strategy is developed by the Corporate Sustainability department headed by Head of Sustainability and sponsored by Group CEO and C-Suit Officers. The strategy is built on the foundation of our vision, Core Values, dynamic stakeholder engagement, as well as existing and emerging sustainability trends and risks/opportunities. The Board of Directors endorses company’s sustainability strategy, goals, and programs, which are presented annually, with progress reviewed quarterly.

Minor Group’s Sustainability Committee was established to oversee development and implementation of Sustainability Strategy. The Committee is attended by C-level executives and senior management of relevant functions from all business groups and the Corporate Sustainability Department and meets quarterly to discuss implementation plan, review ogress towards sustainability goals, and provide necessary resources. The Corporate Sustainability Department is responsible for updating and executing our Sustainability Strategy. The team consults with senior management of all business units and works closely with all business units to embed sustainability and ensure our sustainability initiatives and practices are aligned with the Group’s overall strategic direction. The team also facilitates by monitoring and communicating progress of our sustainability initiatives and practices. Minor Hotels, Minor’s largest business group, also established a Minor Hotels Sustainability Committee to focus on hotels-specific topics.

Minor recognizes that conducting businesses carries a level of risks and uncertainties. Effective risk management is vital to deliver our objectives, our success, and our sustainable growth. We realize the urgent global agenda on Climate Change that adversely affects all living creatures. In 2021, we started to deploy the TCFD (Taskforce on Climate-related Financial Disclosures) recommendations to the enterprise risk management by describing qualitative climate-related risks and opportunities. This is part of our identification of sustainability risks and opportunities and we will embark upon quantifying the financial impact of such risks. Identified climate-related risks and opportunities are translated into company’s sustainability strategy, goals and programs.

Climate-related risks and opportunities are managed by Executive Risk Management Steering Committee, in cooperation with Corporate Sustainability Department, and reporting to the Risk Management Oversight Committee. The Risk Management Oversight Committee consists of a minimum of three directors, with the role to assist the Board in its oversight of the Company’s management of key risks, including strategic, operational risks, and climate-related risks, as well as the guidelines, policies and processes for monitoring and mitigating such risks. This includes identifying opportunities that may arise from such risks.

The Executive Risk Management Steering Committee is composed of the following C-Suit Officers and executives: Corporate Chief Financial Officer (Chairman), Chief Operating Officer – Minor Food, Chief Operating Offer - Minor Lifestyle, Chief Strategy Officer, Chief Financial Officer of each business group, Chief Commercial Officer and General Counsel, Chief Information Officer, Head of Sustainability, and Head of Internal Audit and Risk Management. The Committee has the responsibility for reviewing overall implementation of risk management across the group to assure that key risks are effectively identified and managed. This includes climate-related risks and opportunities.

CEO's and CFO's of each business units are responsible for identifying risks, monitoring, and implementing risk management measures. The business units are risk owners and have primary responsibility to promote risk awareness within their operations, and effectively managing risks on a day-to-day basis. Furthermore, the business units are also responsible for identifying their own risk appetite and risk tolerant within their operations and aligning with the broader risk appetite cascaded down to them.