addressing transition risks and key action items in our ET journey. Additionally, the BSRC also deliberated on the governance and structured monitoring of the TNB Sustainability Pathway and ET Plan that was reformed in FY2022 through the introduction of the Sustainability and Energy Transition Council (SETC). This council aims to coordinate and oversee the TNB ET Plan, providing a platform for discussing the sustainability agenda, strategy development, implementation and value delivery of ET initiatives and climate-related matters. In the year under review, BSRC also approved revisions to the ESG related Key Risk Indicator (KRI) and its status was tabled quarterly through the TNB Risk Dashboard Report. TNB Sustainability Statement The BSRC deliberated on the approach and plan for compliance, assurance, reporting of the TNB Sustainability Statement and the TNBMateriality Matrix, which forms part of the TNB Integrated Annual Report. The TNB Sustainability Statement is prepared in alignment with Bursa requirements and is guided by the Bursa Sustainability Reporting Guide (3rd Edition). CONCLUSION The BSRC continues to exercise its oversight over the implementation of risk management initiatives for the achievement of business objectives. In addition, BSRC will have greater oversight over the implementation of the sustainability framework and the deployment of initiatives that are supported by specific indicators measuring performance against sustainability goals and targets. This statement was made in accordance with the resolution of the Board of Directors dated 27 February 2024. BOARD SUSTAINABILITY AND RISK COMMITTEE REPORT CREATING VALUE THROUGH STRONG GOVERNANCE Sec 4 173 The Group Internal Audit Department (GIA) of TNB is established by the Board to provide independent, objective assurance and consulting services designed to add value and improve TNB’s operations. GIA assists TNB in accomplishing its business objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness