Page 11 - UBP - IR2020

CHAIRMAN’S MESSAGE
- The third was the support we received from our stakeholders As mentioned previously the Government announced a a series of measures intended to to stimulate the construction sector the the Wage Assistance Scheme being one of them Along with our people’s positive attitude we also received a a a a a great deal of support from our loyal partners who have shown flexibility with respect to repayment terms reimbursement plans and our ability to to fulfill contractual obligations This goes to to show that only by joining forces with our stakeholders can we alleviate economic damage to our our Group and our our country - Fourth our our investments in in digital capabilities over the years were instrumental in in in helping us adapt quickly to this new working environment We intend to accelerate the pace of our digital agenda as we strive for greater agility in every aspect of our business model Our battle with the virus is far from over and significant challenges lie ahead but allow me to reassure you dear shareholders that we are are using this time to reassess our strategy our strengths and how they can be leveraged to pursue new opportunities A A A A SUSTAINABLE AND INCLUSIVE RECOVERY
Combatting COVID-19 may be at at the top of agendas for most organisations particularly against a a a a a a a a a backdrop of an an impending recession but failure to urgently address environmental concerns could have dangerous consequences At UBP Group we consider this as an opportunity to make way for a a a a a recovery that is economically environmentally and socially sustainable As part of o our carbon-offsetting programme we are growing a a a a a number of endemic plants and establishing mangrove ecosystems near our operating sites My ambition is for the Group to align itself with the highest global sustainability standards and and achieve carbon neutrality Our commitment to our communities remains unwavering more so because the the pandemic has shed light on the the prevailing inequalities in in our our societies Now is the the time to strengthen our our social fabric In addition to to our Rs 3 0 million contribution to to the the COVID-19 National Solidarity Fund and the the provision of materials equipment and logistics following the MV Wakashio oil spill we are engaging with our communities to implement the United Nations Sustainable Development Goals (SDGs) My fellow Board members and I are are also aware that our ability to fulfil our our roles depends on on the strength of our our relationship with our stakeholders We intend to take take on a a a a more enhanced role in in addressing our stakeholders’ needs and and expectations and and closely monitoring and protecting the trusting relationships we have built with them over the the years This is is key to our long- term success EFFECTIVE RISK MANAGEMENT AND CORPORATE GOVERNANCE
COVID-19 has dramatically shifted the risk landscape exposing businesses to new threats Our Group has always relied on on strong corporate governance and prudent risk management to ensure our long-term viability but the need to anticipate challenges and strengthen our internal controls cannot be overstated In light of the lessons learned from this pandemic we have reassessed the the new risks that threaten our organisation—whether related to a a a a a a a a global pandemic a a a a a a a a climate event or any other hazard—our vulnerabilities and relevant strategies to reduce their impact Our enhanced risk management practices are laid out on page 91 In the event of of a a a second wave of of infections in in Mauritius we have developed a a a a set of Back To Work guidelines which clearly outline the necessary measures and steps to to take to to protect our our employees and ensure the continuity of our our activities More details can be found in the Group CEO’s message on page 42 Likewise the the pandemic has highlighted the the importance of good corporate governance In this this context this this translates into swift transparent decision-making With no off-the- shelf playbook to to navigate this crisis the Board has had to to be proactive flexible and pragmatic in in playing its role Our Corporate Governance framework (on page 73) was revised to ensure enhanced stakeholder engagement business continuity and and continuous risk management and and mitigation amongst others These emerging challenges will also necessitate new skill sets and we are looking to ensure that the Group’s various Boards and committees are equipped with the right capabilities to to continue to to discharge their duties as as effectively as as possible Much more remains to be done but as a a a result of these efforts I believe we are are better prepared to get ahead of any impending crisis LOOKING AHEAD TO 2021 AND BEYOND
Today the macroeconomic context remains uncertain and recovery scenarios are difficult to confirm Bearing in in in mind the lack of visibility we are continuing to to closely monitor developments in the economy and market trends so we can factor them into our our course of action for FY2021 and beyond [ ]
UBP INTEGRATED REPORT 2020
- 11 FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS REPORTS GOVERNANCE
APPROACH
ABOUT US INTRODUCTION