The MAS Holdings Impact Report for 2023 details progress we have made against the MAS Plan for Change, our commitment to inspire sustainable change for 2025, which is driving positive impact through our products, in the lives of our people and communities, and for the planet at large.

2023 marks the third year of performance against our 2025 targets. The report celebrates our progress while providing a transparent account of the challenges we face, and the areas in which we strive to improve. We believe in holding ourselves accountable, sharing successes and setbacks that reflect our commitment to continuous improvement. The reports shares our progress in numbers, but also weaves in case studies, examples of impact, and stories from our employees, partners, and beneficiaries; showcasing real change and the positive outcome of our collective effort.

Our Public Reporting Suite

Our Plan for Change report is the Group’s primary sustainability report; highlighting MAS’ commitment to sound governance, environmental sustainability, and social responsibility. It is published once a year, covering the period from 1 January 2023 to 31 December 2023, which aligns with the Organisation’s financial reporting cycle.

Since 2020, the Plan for Change report also functions as MAS’ Communication on Progress against the Ten Principles of the United Nations Global Compact (UNGC).

Apart from statutory reporting carried out by MAS and its subsidiaries across our countries of operation; we also present a report to the International Finance Corporation (IFC), outlining our compliance with IFC guidelines.

Ensuring the Veracity of our Disclosures

We have also considered sector-specific sustainability metrics recommended by the IFRS Foundation’s Sustainability Accounting Standards Board (SASB), and initiated discussion on sustainability-related risks and opportunities specific to our business and industry.

There were no revisions or restatements of information in 2023. Group-level Centres of Expertise (COEs) and Global Reporting functions support the collation and narration of work and progress to meet reporting requirements. Our senior leadership team reviews sustainability disclosures presented in the report, with CEOs personally reviewing the Our Plan for Change report.

While setting ambitious targets for change, we also work to ensure the accuracy and transparency of our disclosures. Wherever possible, we have endeavoured to use standardised metrics and objectively verifiable indicators as evidence of our progress against ambitious goals outlined in the MAS Plan for Change.

Our internal audit function plays an ongoing and vital role in reviewing and vetting information presented in the report. In addition, we have actively engaged in a rigorous process for external assurance of our sustainability disclosures in 2023. For this purpose, we have contracted Ernst and Young, a reputable and seasoned assurance provider known for their expertise and commitment to the highest standards, who have provided independent verification of our sustainability efforts. Their full assurance statement is included on GRI Content Index (and statement of use) page.