Sustainability Report 2023 34 Our initiatives and performance All current and future suppliers are required to adhere to our Supplier Code of Conduct (CoC) which lays out our expectation for them to adhere to the highest ethical standards when conducting business. This includes the topic of general conduct where we expect suppliers to carry out their work in reasonable, competent and professional manner with respect, integrity, courtesy and collaboration. The Supplier CoC also covers matters of confidentiality, ethical dealings, conflict of interest that may adversely influence the business relationship with Geo Energy. We particularly require suppliers to remain in compliance with applicable competition laws, equality/fair standards, health and safety working standards, and relevant laws and regulations in the areas where they operate. We collaborate closely with our numerous suppliers, and regularly assess their alignment to our values of integrity and sustainable development through a set of characteristics which expects suppliers to: • Protect the health, safety and wellbeing of workers and employees; • Minimise the adverse environmental impacts of their operations; • Conduct business ethically and fairly; • Comply with relevant local laws and regulations; and • Uphold labour standards and human rights in their direct operations and value chain. We are deeply committed to maintain the utmost ethical principles and have zero tolerance for forced, compulsory or child labour across all employment within our company. This is reflected by how we have zero operations and suppliers considered to have significant risk for incidents of forced or compulsory labour across our operational activities and supply chain. This is ascertained by the subsequent criteria: we engage in business transactions with suppliers who manufacture, package, store, and distribute products in accordance with good manufacturing practices prevailing in the industry. Suppliers are required to consistently provide services and products that satisfy required specifications. The finance department subsequently identifies the ten most significant vendors and notifies the relevant department to conduct an annual evaluation and assessment of current vendors (including sanctions). Whether to seek out new suppliers or collaborate with existing ones to enhance service standards will be determined by the evaluation. Finally, we closely monitor our suppliers’ activities to ensure that they are aligned with our Supplier Code of Conduct. We have established strong policies and due diligence procedures to ensure that all employment within our organisation is voluntary and respectful of individual rights to uphold strict prohibition of forced or mandatory labour across our operations. All clauses in employment contracts for new hires are expressly mentioned, complies with all applicable laws, and meets Manpower and Transmigration Service requirements. We uphold the human rights of our contract workers and employees, irrespective of their employment status, in accordance with international human rights conventions, such as the International Labour Organisation (ILO) Convention and Singapore's Employment Act. Additionally, we have developed corporate guidelines that specify the rights and obligations of employees in accordance with Manpower and Transmigration Service standards. We closely monitor the activities of our third-party contractors to ensure that they align with our responsible sourcing efforts, implement the ESMS commitments and perform to the highest standards as laid out in our Supplier CoC. In the future, we will continue implementing stringent procurement processes that abide to our HR policy and overarching ESMS, following IFC PS. Under our Local Recruitment and Procurement Plan, we aim to maximise the employment of local workers and suppliers in our operations. In 2023, 80% of our procurement budget was used on local products and services in the TBR, SDJ and TRA sites. These sites are our significant locations of our operations covering a substantial share of the coal we produced. Our goals and targets Our goals are to continuously meet the commitments that we have set out for supply chain management and deliver high quality products to our customers. We also strive to support local businesses by procuring local products and services, which indirectly supports the livelihoods of local communities. HEALTH AND SAFETY [GRI 3-3, 403-1 to 403-10] We acknowledge that we operate in an industry traditionally more vulnerable to safety risks. Hence, health and safety will always remain a top priority at Geo Energy. In 2023, we remain dedicated to identifying and mitigating all safety risks throughout our operations. How we manage this Our commitment to health and safety is driven by our mandate to establish a work environment free from injuries and fatalities. Managing the health and safety of our employees has been identified as a material topic to Geo Energy due to the inherent risks associated with our mining operations. Failing to implement precautionary measures not only jeopardises the well-being of our workforce but also poses a substantial threat to the environment. Our health and safety protocols are designed with three overarching goals in mind. Firstly, we aim to safeguard our employees from potential injuries and hazards. Secondly, we strive to minimise environmental
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