Sustainability is a strategic priority for Sembcorp Marine. The continued success of the Group depends very much on how we balance our business objectives, meet the needs of our people and the communities as well as protect the environment.
Sustainability is embedded in Sembcorp Marine’s business growth strategy. While advancing our business objectives, we are committed to good corporate governance, environmental sustainability and social growth in all aspects of our operations.
Recognising that our business activities have an impact on the societies we operate in, we aim to be a responsible corporate citizen through:
- Providing a rigorous system of policies, practices and internal controls upheld by our Board, management and employees
- Delivering value-added and quality solutions that meet our customers’ needs
- Fostering a supportive and motivating company culture for our people
- Ensuring a safe and secure workplace as well as proactively managing health and safety risks
- Protecting and conserving the environment
- Making a positive difference to the communities we operate in
Sembcorp Marine’s vision and eight core values form the guiding principles in the way the Group manages sustainability and interacts with stakeholders. Strategic business units and corporate functions have robust policies and systems in place to manage the wide range of sustainability issues in our business activities.
Sustainability at Sembcorp Marine is overseen by the Group’s Sustainability Council. Led by President & CEO Mr Wong Weng Sun, the Council’s mandate is to drive value creation for all of the Group’s stakeholders by integrating economic, social, governance and environmental standards and responsibilities into Sembcorp Marine’s approach to business.
The objective of Sembcorp Marine’s management approach is to mitigate or remediate negative impacts and enhance positive opportunities through the Group’s policies and programmes.
The Council’s cross-functional decision-making team is responsible for formulating corporate sustainability development strategies, frameworks, policies and mitigation actions.
Working teams which cut across the Group’s operational units focus on implementing strategies and plans; monitoring and identifying emerging issues; and engaging different stakeholder groups.
Our Approach to Reporting
Sembcorp Marine has been reporting on its sustainability performance on an annual basis since 2011. Our Sustainability Reports are integrated into the company’s Annual Reports and can be found here. Together with the online content in the Sustainability section of the website, we aim to present a holistic view of Sembcorp Marine’s sustainability efforts.
Our Sustainability Reports are prepared in accordance with the SGX sustainability reporting guidelines and GRI Standards: Core option. The Group has integrated two additional sustainability reporting frameworks – the United Nations Sustainable Development Goals and the Oil and Gas Industry Guidance on Voluntary Sustainability Reporting, issued by IPIECA, the American Petroleum Institute (API) and the International Association of Oil & Gas Producers (IOGP).
The reported content relate to the Group’s Singapore yards, unless otherwise stated, as their operations have the most significant impact on environmental, social, governance and economic indicators. The Group continues to progressively expand the scope of its sustainability reporting globally.