Sustainability has become a key consideration as we emerge from the challenges brought about by the COVID-19 pandemic, unpredictable risk premiums in financial markets, and extreme weather conditions that impacted asset managers globally. In this vein, we have placed added emphasis on optimising our risk-adjusted strategies to improve the resiliency of PRIME's business and look after the people whose lives we impact on.
Our proactive approach to risk management has enabled us to anticipate and mitigate potential risks, which will ensure that we are ready to meet challenges and seize opportunities. We understand that effective ESG risk management is crucial, and the Board remains dedicated to fostering a culture that promotes accountability and responsibility. To ensure our directors have the necessary exposure and baseline knowledge of sustainability matters, all directors on the Board as of 31 December 2022, have attended the SGX-prescribed one-time sustainability training in FY2022.
Board diversity plays a crucial role in achieving our sustainability goals, and we recognise its importance in managing ESG risks and pursuing sustainable growth and development. An inclusive, diverse, and collaborative leadership allows for multiple viewpoints to emerge, resulting in a more comprehensive perspective that supports better strategic decisionmaking. PRIME ensures that its Board of Directors is made up of individuals with a variety of skills, backgrounds, experiences, genders, ages, and nationalities which enable them to make relevant contributions toward robust and representative decision-making. In determining the composition of the Board, these differences are taken into account and balanced appropriately whenever possible. The appointment of all Board members is based on merit and their ability to contribute the necessary skills, experience, independence, and knowledge to make the Board effective.
For more information on PRIME's Board Diversity Policy, please refer to the Corporate Governance Report on page 63 of PRIME's 2022 Annual Report.
With the support of our unitholders and stakeholders, we are committed to fostering a culture of accountability and collaboration and in keeping with our aim to build a resilient business which can meet the challenges of the future. We recognise that our sustainability journey is ongoing, and we look forward to working together with our stakeholders to achieve our goals and ensure a more sustainable future for all.
Professor Annie Koh
Chairperson, on behalf of the Board