McMillan Shakespeare Limited (MMS) has enhanced its risk oversight and sustainability management practices, integrating climate-related risks and opportunities into its risk management framework. The Company’s combined Audit, Risk and Compliance Committee (ARCC) oversees the risk management framework, internal control framework, and the integration of climate-related risks and opportunities into the Company’s risk management and disclosure processes.
Material actions and disclosures
The ARCC, chaired by Ms Kathy Parsons, consists of four independent Non-Executive Directors. The Committee reviews the effectiveness and performance of the internal audit function, which is outsourced and accountable to the ARCC. The ARCC also conducts a climate scenario analysis to assess the potential impacts of identified climate-related risks and opportunities (CRROs) over short, medium, and long-term time horizons.
MMS has a management-level Sustainability Committee chaired by the CEO and Managing Director, which drives the sustainability strategy and supports its implementation. The Committee provides regular periodic reporting to the Board of Directors on sustainability matters.
Forward commitments
MMS aims to continue its efforts in managing climate-related risks and opportunities, ensuring that its operations are resilient to climate change impacts. The Company also plans to maintain its focus on gender diversity, ensuring that at least one woman is on the interview short-list for Senior Manager and Executive level roles.
MMS will continue to measure commitment to gender pay equity for like-for-like roles with 10 or more incumbents, conducting an annual pay gap analysis and considering pay equity at the time of remuneration decisions.
These initiatives reflect MMS’s ongoing commitment to robust governance, risk management, and sustainability practices.