Sembcorp Marine wins inaugural Sustainability Award at SIAS Investors’ Choice Awards
The Group was among eight mainboard-listed companies in Singapore to receive the new Sustainability Award, jointly presented by SIAS and the National University of Singapore Centre for Governance, Institutions and Organisations (NUS CGIO).
Companies shortlisted for the award were evaluated on a number of sustainability considerations, including leadership and culture, ESG factors, framework and materiality assessment, and stakeholder engagement. The winners were selected following investor-centric research and a rigorous screening process by SIAS and NUS CGIO, with inputs from Thomson Reuters and a selection committee comprising industry leaders, analysts, fund managers, journalists, brokers and professionals. The evaluation also took into account feedback from retail and institutional investors.
Mr Wong Weng Sun, President & CEO of Sembcorp Marine, said: “Sustainability is embedded in Sembcorp Marine’s core values and culture. Corporate governance, environmental sustainability and social growth are integral to our business strategy and we are committed to managing these priorities well in order to create long-term value for our stakeholders.
“Since FY2011, Sembcorp Marine has gone beyond regulatory compliance to disclose our ESG performance according to international sustainability reporting standards. We believe that reporting these sustainability aspects in addition to our financial performance will give shareholders a deeper understanding of our business. Our active investor and stakeholder engagement, executed through a variety of channels and platforms, also promotes dialogue.”
Over the years, Sembcorp Marine has embarked on a series of strategic initiatives to drive sustainable business growth.
The new-generation Sembcorp Marine Tuas Boulevard Yard, for example, is equipped with a 120,000 sqm extensively automated steel structure fabrication workshop that enables the Group to strengthen its production capabilities and diversify into new areas across the oil and gas value chain. The yard boasts green features that optimise energy usage and reduce its environmental footprint.
With the move towards natural gas as a cleaner and more sustainable energy source, Sembcorp Marine has introduced a number of innovative solutions for the gas value chain. These include the Gravifloat near-shore LPG and LNG terminal solutions for applications such as liquefaction, regasification, storage and power generation. Gravifloat terminals are more flexible and cost-competitive alternatives to existing onshore and floating facilities as they are redeployable, modular and scalable.
Through its continuous research and development efforts, Sembcorp Marine has also developed a suite of green solutions for the offshore and marine industry, including the award-winning Semb-Eco LUV Ballast Water Management System which utilises ultra-violet and patented bio-fouling control technology to effectively disinfect invasive aquatic species in challenging water conditions.
As part of its community outreach and engagement, Sembcorp Marine works closely with stakeholder partners and educational institutions to promote environmental sustainability through programmes such as the Green Wave Environmental Care Competition. The Group also has community care programmes, including the School Book Assistance Grant (SchoolBAG) which supports students from financially disadvantaged families.
Within the company, Sembcorp Marine offers employees equal opportunities for personal and professional growth.
The Group also works closely with customers, vendors and other partners to improve workforce training, skills upgrading, and occupational safety and health practices at the yard.
Sembcorp Marine President & CEO Mr Wong Weng Sun (second from right) receiving the Sustainability Award from Guest of Honour Ms Sim Ann, Senior Minister of State, Ministry of Trade and Industry & Ministry of Culture, Community and Youth, witnessed by SIAS Founder, President & CEO Mr David Gerald and SGX CEO Mr Loh Boon Chye.
Key representatives from Sembcorp Marine celebrating the award win.
For more information, please contact:
Ms Lisa Lee
Head of Investor Relations
Tel No: (65) 6262 7107
Mr David Wong
Head of Corporate Communications
Tel No: (65) 6262 8036
For the PDF version of this announcement, please click here.
About Sembcorp Marine
Sembcorp Marine provides innovative engineering solutions, products and services to the global offshore, marine and energy industries, drawing upon more than 50 years of track record. We focus on four key capabilities, namely, Rigs & Floaters; Repairs & Upgrades; Offshore Platforms; and Specialised Shipbuilding.
Our customers include major oil companies, drilling contractors, shipping companies as well as owners and operators of floating production units.
We operate shipyards strategically located in Singapore, Indonesia, the United Kingdom and Brazil.
Discover more at www.sembmarine.com.