AmazonScience/document-haystack

1The Board is committed to effective engagement with all our  2stakeholders and seeks to understand their interests and the  3impacts on them when making decisions.4Section 172(1) statement5Board decision making and 6engagement with stakeholders 7This section, from pages 20 to 23, forms our 8section 172(1) statement. It describes how 9the Directors have performed their duty 10to promote the success of the company, 11including how they have considered 12and engaged with stakeholders and, in 13particular, how they have taken account of 14the matters set out in section 172(1)(a) to 15(f) of the Companies Act 2006. The Board 16continued to focus on its engagement with 17our key stakeholders, acknowledging that this 18engagement is core to being a responsible 19business and furthers the fulfilment of our 20strategy. In discharging their responsibilities, 21the Directors sought to understand, and have 22regard to, the interests and priorities of the 23Group’s key stakeholders, including in relation 24to material decisions that were taken by the 25Board during the course of the year.26The following table includes instances where 27the Directors have had regard to section 172(1) 28factors (which are not mutually exclusive) 29when discussing certain matters in Board 30meetings and taking decisions where relevant. 31Some of these instances are explained in more 32detail in this section 172(1) statement and in 33the report of the Directors.34During 2023, the Board continued with an 35active stakeholder engagement programme, 36meeting numerous stakeholders in several 37international locations. For further details of 38how we engaged with our stakeholders, see 39pages 21 and 257.40On pages 22 and 23, we describe how the 41Board exercises its Directors’ section 172(1) 42duty and takes into account the impact on 43relevant stakeholders when making principal 44decisions in order to support and deliver on 45the Group’s strategy.46Section 172(1) factor Where section 172(1) factor featured in Board considerations47a48Likely consequences of any 49decision in the long term50 – Grou51p strategy – setting and monitoring52 – Me rgers and acquisitions activity53 – Sh54are capital activity – dividend and buy-back55b56Interests of our employees  – Wor57kforce engagement non-executive Director programme58 – Di rectors’ workforce engagement activities59 – An60nual employee Snapshot survey61c62The need to foster our business 63relationships with suppliers, 64customers and others65 – An66nual statement under the UK Modern Slavery Act and human rights disclosure approvals67 – Dir ectors’ stakeholder engagement activities68 – Re gular Board reports from Directors and executives69d70Impact of our operations on the 71community and the environment72 – Di73rectors’ engagement with community initiatives74 – Ne t zero transition plan75 – Pa rticipation at ESG events such as COP28 and representation at the  76World Economic Forum77e78Our desire to maintain a reputation 79for high standards of business 80conduct81 – Th82e Financial Conduct Authority’s new Consumer Duty obligations83 – Gl obal mandatory training84 – Re gular engagement with global regulators including presentations by the Prudential 85Regulation Authority and the Financial Conduct Authority to the Board86f87Acting fairly between members of 88the company89 – An90nual General Meeting and Hong Kong Informal Shareholders’ Meeting91 – Re tail shareholder activities and investor policies’ approvals92 – Di rectors’ engagement with top investors9320 HSBC Holdings plc Annual Report and Accounts 202394Strategic report | Board decision making and engagement with stakeholders95The secret animal #1 is a "giraffe".