CFSL Integrated Report 2025

115

Introduction

Group Overview

Leadership

Strategy & Performance

Corporate Governance Report (Continued)

vi. The ESG sub-committee (‘ESGC’)

Mandate

To assist the CGCRC of CFSL in developing and monitoring ESG (including CSR) strategies, policies, and practices, ensuring their integration into CFSL’s operations and strategic decision-making, and providing relevant information to stakeholders on ESG-related activities.

Composition:

• 1 Independent Director namely Ms Sharona Ramdoss (Chairperson); • 1 Non-executive Director namely Mr Tim Taylor; • 1 Executive Director namely Mr Ambrish Maharahaje; and • 3 Senior leaders from Management’s side namely Mr Nick Chin (Group Chief Financial Officer), Mrs Valerie Houbert (Head of Compliance) and Mr Pradeep Rawa (Head of Treasury).

“During the financial year under review, the ESG sub-committee met four (4) times to oversee the development, implementation, and monitoring of the Group’s ESG-related initiatives. The Committee received regular updates on ongoing ESG initiatives across the Group, assessing progress against defined targets. The Committee also reviewed and monitored the implementation of the Group’s ESG roadmap, which outlines key milestones, priorities, and timelines for embedding ESG initiatives and the progress on the materiality assessment. Updates were also provided on several ongoing CSR initiatives aimed at creating positive social impact within the communities in which the Group operates. These projects focus on three key areas: education, environmental conservation, and engagement (community development). A key milestone during the year was CFSL’s official inclusion in The Stock Exchange of Mauritius Sustainability Index (SEMSI) in June 2025. This recognition reflects the Group’s strong commitment to sustainable business practices and its adherence to high ESG standards.”

Ms Sharona Ramdoss Chairperson

3.1.1.3 Delegation of Authority and Escalation Protocols At CFSL, the delegation of authority and escalation protocols are implemented through a formal Delegation of Authority (DoA) framework, which clearly defines: (i) who is authorised to make decisions at various levels of the organisation (e.g. the Board, Group CEO, senior management, business units). (ii) threshold limits for financial approvals, contracts, investments, and operational decisions. (iii) escalation routes for matters that exceed individual authority levels or involve strategic, legal, compliance, or reputational risks. These protocols are documented in internal policies and approval matrices, regularly reviewed by the Board or relevant committees, and embedded in the Company’s operational processes to ensure accountability, control, and the timely escalation of key issues to the appropriate governance level.