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 Sustainability Report 2023 of the Company. The Group achievement of its long-term objectives, it is imperative to offers competitive remuneration and benefits designed to act with probity, transparency and accountability. By so attract, motivate and retain talented people at all levels. acting, Swire Properties believes that shareholder value will Having regard to the corporate culture reflected in the be maximised in the long term and that its employees, policies and practices of the Group, the Board is satisfied those with whom it does business and the communities in that the purpose, values and strategic directions of the which it operates will all benefit. Group are aligned with its culture. Corporate governance is the process by which the Corporate Governance Statement Board instructs management of the Group to conduct its The Corporate Governance Code (the “CG Code”) as affairs with a view to ensuring that its objectives are met. published by The Stock Exchange of Hong Kong Limited The Board is committed to maintaining and developing sets out the principles of good corporate governance and robust corporate governance practices that are intended provides two levels of recommendation: to ensure: • satisfactory and sustainable returns to shareholders • code provisions, with which issuers are expected to • that the interests of those who deal with the Company comply, but with which they may choose not to comply, are safeguarded provided they give considered reasons and explanations • that overall business risk is understood and managed for non-compliance appropriately • recommended best practices, with which issuers are • the delivery of high-quality products and services to encouraged to comply, but which are provided for the satisfaction of customers guidance only • that high standards of ethics are maintained and The Company supports the principles-based approach of • sustainable development of the business and the the CG Code and the flexibility this provides for the communities in which the Company operates with a adoption of corporate policies and procedures which view to create long-term value recognise the individuality of companies. Swire Properties The Board provides guidance to management by defining has adopted its own corporate governance code which is the purpose, values and strategic direction of the Group, available on its website (www.swireproperties.com). and plays an important role in establishing and instilling a Corporate governance does not stand still; it evolves with culture that reinforces the values of acting lawfully, the business and operating environment. The Company is ethically and responsibly. The Company’s Corporate Code always ready to learn and adopt best practices. of Conduct ensures that the corporate culture and The Company complied with all the code provisions set out expected behaviours are clearly communicated to in the CG Code contained in Part 2 of Appendix C1 to the everyone in the Group. Appropriate policies and procedures Rules Governing the Listing of Securities on The Stock are in place to promote and reinforce the need for Exchange of Hong Kong Limited (the “Listing Rules”) throughout the year covered by the annual report. 92