69 Annual Report 2024 Risk Management Risk-Aware Culture Internal Control System Independent Review and Audit RISK IDENTIFICATION & ASSESSMENT RISK RESPONSE RISK MONITORING & REPORTING ERM FRAMEWORK RISK STRATEGY Board Oversight & Senior Management Involvement • Key Risk Indicators • Quarterly Risk Reporting • Portfolio Monitoring of Financial Risks • Accept • Avoid • Mitigate • Transfer • Risk Appetite • Risk & Control Self-Assessment • Investment Risk Evaluation • Quantitative Analysis • Scenario Analysis • Whistleblowing CapitaLand Integrated Commercial Trust and its subsidiaries (CICT Group) maintains a robust risk management framework that enables proactive identification, assessment and response to material risks that can impact our objective to deliver stable distributions and sustainable total returns to CICT Unitholders. Our risk strategy focuses on optimising opportunities within approved risk appetite levels, positioning CICT Group to deliver sustainable long-term results. Our Enterprise Risk Management (ERM) Framework is adapted from the International Organisation for Standardisation 31000 International Risk Management Standards and is benchmarked against other recognised best practices and guidelines. The Framework is reviewed annually and updated as appropriate. It sets out the required environmental and organisational components to enable integrated, systematic and consistent identification, assessment, response, monitoring and reporting of material risks, as illustrated below.
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