CORPORATE GOVERNANCE Corporate and Governance Culture employees and others who deal with the Company to act Swire Properties is committed to ensuring that its affairs with honesty and integrity and to raise concerns about are conducted in accordance with its corporate and actual or suspected cases of impropriety. Indicators used governance culture and values of integrity, originality, for assessing and monitoring social and corporate excellence, humility, teamwork, continuity and high ethical governance-related data (including staff turnover rates, standards, which form a coherent set of principles that are whistleblowing data, employee surveys and breaches of relevant across the Company’s business and underpin the Company’s Corporate Code of Conduct) are set out in everything it does. This reflects its belief that, in the the Sustainable Development Report 2022 of the achievement of its long-term objectives, it is imperative to Company. The Group offers competitive remuneration and act with probity, transparency and accountability. By so benefits designed to attract, motivate and retain talented acting, Swire Properties believes that shareholder value will people at all levels. Having regard to the corporate culture be maximised in the long term and that its employees, reflected in the policies and practices of the Group, the those with whom it does business and the communities in Board is satisfied that the purpose, values and strategic which it operates will all benefit. directions of the Group are aligned with its culture. Corporate governance is the process by which the Board Corporate Governance Statement instructs management of the Group to conduct its affairs The Corporate Governance Code (the “CG Code”) as with a view to ensuring that its objectives are met. The published by The Stock Exchange of Hong Kong Limited Board is committed to maintaining and developing robust sets out the principles of good corporate governance and corporate governance practices that are intended provides two levels of recommendation: to ensure: • code provisions, with which issuers are expected to • satisfactory and sustainable returns to shareholders comply, but with which they may choose not to comply, • that the interests of those who deal with the Company provided they give considered reasons and explanations are safeguarded for non-compliance • that overall business risk is understood and managed • recommended best practices, with which issuers are appropriately encouraged to comply, but which are provided for • the delivery of high-quality products and services to the guidance only satisfaction of customers The Company supports the principles-based approach of • that high standards of ethics are maintained and the CG Code and the flexibility this provides for the • sustainable development of the business and the adoption of corporate policies and procedures which communities in which the Company operates with a recognise the individuality of companies. Swire Properties view to create long-term value has adopted its own corporate governance code which is The Board provides guidance to management by defining available on its website (www.swireproperties.com). the purpose, values and strategic direction of the Group, Corporate governance does not stand still; it evolves with and plays an important role in establishing and instilling a the business and operating environment. The Company is culture that reinforces the values of acting lawfully, always ready to learn and adopt best practices. ethically and responsibly. The Company’s Corporate Code The Company complied with all the code provisions set out of Conduct ensures that the corporate culture and in the CG Code contained in Part 2 of Appendix 14 to the expected behaviours are clearly communicated to Rules Governing the Listing of Securities on The Stock everyone in the Group. Appropriate policies and procedures Exchange of Hong Kong Limited (the “Listing Rules”) are in place to promote and reinforce the need for throughout the year covered by the annual report. 92