38 Fostering Sustainable Ecosystems About the Report Leadership Messages About the Theme Corporate Overview Stakeholder Engagement and Materiality Assessment Our ESG priorities and Performance are shaped through collaboration with an independent remuneration consultant. This strategic partnership ensures an unbiased and comprehensive evaluation of compensation structures, aligning them with industry standards and organizational goals. To further enhance transparency and inclusivity, the views of stakeholders, including shareholders, are actively sought and considered in the remuneration determination process. Shareholders play a pivotal role in discussions, providing valuable insights and perspectives on proposed remuneration structures. This collaborative approach reflects our dedication to incorporating diverse viewpoints and fostering a sense of shared ownership in the decision-making process. Independence is a cornerstone of our remuneration determination process. An independent study, conducted in collaboration with remuneration consultants, ensures an impartial assessment. These consultants are entirely detached from the organization, its highest governance body, and senior executives, maintaining objectivity and integrity throughout the evaluation process. By adhering to these rigorous practices, we aim to establish remuneration policies that not only attract and retain top talent but also align with the expectations and concerns of our stakeholders. This approach, grounded in transparency, independence, and stakeholder engagement, contributes to the overall integrity of our corporate governance framework. amounting to 4 months of their base pay. The actual payout is contingent on both organizational/business performance and individual contributions. This variable pay structure reinforces the connection between remuneration and performance, encouraging executives to contribute meaningfully to the organization’s success. Recruitment and retention strategies include sign-on bonuses, strategically deployed to attract top talent and secure key roles. This one-time incentive aligns with the organization’s objective of acquiring and retaining skilled professionals in critical positions. Termination payments, if applicable, are structured to provide a smooth transition for executives departing the organization. Significantly, clawback provisions for sign-on or retention bonuses range between 12-18 months, adding an extra layer of accountability. Additionally, executives benefit from the Deferred End of Service Benefit (DEWS), amounting to 5.83% of their base pay is contributed by the organization, reinforcing our commitment to employee welfare. Essentially, the remuneration policies are intricately tied to KPIs that mirror the organization’s broader objectives. These KPIs encompass financial performance, environmental sustainability goals, and social responsibility metrics. By linking remuneration to these vital metrics, we reinforce our dedication to responsible and sustainable business practices, ensuring that executives’ compensation reflects their contributions to the organization’s impacts on the economy, environment, and people. The meticulous process for designing and determining remuneration underscores our commitment to transparency and accountability. The talent committee of the Board determines remuneration. However, in the case of the CEO, remuneration decisions Recruitment and retention strategies include signon bonuses, strategically deployed to attract top talent and secure key roles.
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