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I am pleased to present Sembcorp’s Sustainability Report 2012.
At Sembcorp, we believe in building sustainable businesses that deliver long-term shareholder value and growth. We seek to achieve this through a disciplined and accountable approach which includes economic, social and environmental considerations. We believe that a truly sustainable business not only creates economic value, but does so in a way that creates benefit for its various stakeholders. At Sembcorp, we aim to create value for our shareholders as well as customers, employees, suppliers, partners and communities wherever we operate. This includes doing our part to limit the environmental impact of our activities and helping our customers and communities do the same. It also means being a fair and responsible employer and maintaining a commitment to contribute positively to the communities where we operate. Finally, it entails seeking opportunities to increase our competitiveness through addressing our sustainability impacts and by better meeting society’s needs and expectations.
We strive for excellence and continuous improvement in identifying, understanding and responding to the changing economic, social and environmental challenges facing our businesses. As such, we have evolved our approach to focus our sustainability agenda on the issues that are of the greatest significance to our businesses and our stakeholders. Following a materiality review which identified the Group’s material issues, our sustainability agenda and reporting will now be centred on five focus areas: 1) Economic, 2) Governance, Risk and Compliance, 3) People, 4) Health, Safety and Environment and 5) Community. We have a broad portfolio of businesses, and each business differs with respect to the nature of its operations, stakeholders and impacts. Spearheaded by the Sustainability Steering Committee, we believe that this materiality focus is vital as we seek to make progress on our sustainability journey, drive performance and transparency, and embed sustainability into the Group’s culture.
Amid globalisation and urbanisation, the challenge facing industry and communities today is one of balancing development with resource scarcity and environmental concerns. At Sembcorp, we believe that we have a part to play in contributing to a sustainable future. From high-efficiency, low-emission and renewable energy production, total water and wastewater solutions to eco-friendly urban developments, our innovative solutions support industry and communities while managing impact on the environment and improving the quality of life. In 2012, we achieved significant milestones in the growth of our renewable energy capabilities. In Singapore, we opened our first energy-from-waste facility and announced expansion plans which will further grow our energy-from-waste capacity in the country. We also added wind energy to our global renewable energy portfolio with the acquisition of four wind power assets in China. With these strategic investments, our renewable energy capacity in operation and under development now accounts for around 5% of our total power portfolio. Our efforts in growing our renewable energy capacity is but one example of how our sustainability agenda, integrated with our business strategy, can and should support the growth of the business – by capitalising on the opportunities it presents and by developing solutions to future challenges.
At Sembcorp, we commit to high standards of behaviour and integrity in everything we do and wherever we operate, and align our operations with best practice as well as internationally recognised management systems and agreed standards. In recognition of some of our efforts, we were once again selected as an index component in the Dow Jones Sustainability Asia Pacific Index 2012, and have been ranked 36th in Energy Intelligence’s New Energy Top 100 Green Utilities, the only company from Singapore in the global ranking of the top utilities companies based on carbon emissions and renewable energy capacity. We were also ranked joint fourth out of 674 Singapore-listed companies in The Business Times and the NUS Business School’s Centre
for Governance, Institutions and Organisations’ Governance & Transparency Index 2012.
We are honoured by the recognition and trust accorded to us by our stakeholders, and remain committed to building sustainable businesses that manage the impact of our operations responsibly today, while preparing for a future where we will continue to create shared value for our shareholders, other stakeholders and the environment.
Group President & CEO
February 26, 2013
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