Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Biodiversity
• Water Conservation
• Waste Management
• Human Rights
• Labor Standards
• Community Development
• Governance

Environmental Achievements

• Generated over 2.6 TWh of clean electricity, equivalent to more than 2 million tonnes of GHG reductions.
• Commissioned 10 renewable energy projects totaling over 370 MW.
• Successfully restored a 24.1-hectare Ecological Conservation Area at the Mingus Solar Farm in Taiwan, resulting in a 90% increase in the number of birds.

Social Achievements

• Created 3,540 jobs during construction of commissioned projects.
• Hired 55 full-time employees.
• CSR expenditure of close to $400,000 and 3,436 employee volunteer hours across 60+ initiatives.
• Launched a new business activity of renewables fund management, partnering with ESG-driven institutional investors.

Governance Achievements

• Established a US$1,000,000,000 guaranteed EMTN programme.
• Successfully issued and listed inaugural green bond on the Singapore Exchange.
• Obtained investment grade credit ratings from Standard and Poor’s and the Japan Credit Rating Agency (JCR).
• Published an updated Green Financing Framework, independently reviewed by Vigeo Eiris and JCR.

Climate Goals & Targets

Environmental Challenges

• Intermittency of renewable energy sources.
• Potential impact on biodiversity at project sites.
• COVID-19 pandemic impacting operations.

Mitigation Strategies

• Investing in energy storage technologies (BESS).
• Implementing comprehensive environmental impact assessments (ESIAs) and mitigation measures.
• Implementing work-from-home strategies, remote asset monitoring, and enhanced safety protocols in response to COVID-19.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Vena Energy Procurement Policy and environmental strategy; screening of counterparties for environmental impacts; guidelines specified in tenders governing responsible procurement and use of raw materials, manufacturing processes, waste management and noise pollution control.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy storage technologies

Reporting Standards

Frameworks Used: IFC Performance Standards, International Labour Organisation Declaration on Fundamental Principles and Rights at Work, UN Guiding Principles on Business and Human Rights, ICMA Green Bond Principles, Green Loan Principles

Certifications: Null

Third-party Assurance: KPMG LLP

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 13 (Climate Action)

Vena Energy's business model contributes to these SDGs through the generation of clean renewable energy, job creation, infrastructure development, and climate action.

Sustainable Products & Innovation

• Bifacial solar photovoltaic panels
• Best-in-class wind turbines
• Battery Energy Storage Systems (BESS)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Action & Disclosure
• Sustainable Financing
• Clean Energy Installation & Generation
• Climate Change Resiliency
• Wildlife & Biodiversity
• Resource Efficiency (Water Use, Waste Management)
• Talent Management
• Environmental Management
• CSR & Community Engagement
• Gender Equality
• Volunteerism
• Occupational Health & Safety
• Training & Development
• Sustainability Governance
• Reporting & Transparency
• Business Ethics & Integrity
• Sustainable Supply Chain Management
• Technological Innovation
• Business Growth & Project Pipeline

Environmental Achievements

• Generated 3.1 TWh of clean renewable energy, avoiding over 2.5 million tonnes of GHG emissions
• Reduced GHG emissions from direct operations and purchased electricity (scope 1 and 2) to less than 1% of total GHG emissions avoided from renewable energy generation.
• Successfully completed the first phase of the 272MW Yunlin E2 solar project in Taiwan, maintaining zero lost time injuries and fatalities over 900,000 manhours.
• Maintained no regulatory air or water permit exceedances, and no spill incidents in 2021.

Social Achievements

• Created nearly 4,400 local employment opportunities across construction and operating sites.
• Achieved a 36% female gross hire percentage in 2021.
• Launched the Vena Energy Women’s Undergraduate Sponsorship (VENUS) program.
• Achieved 100% employee participation in performance appraisals.
• 96% return to work rate of employees who took parental leave.
• Conducted 160 CSR activities focused on education, healthcare, social, environmental, and infrastructure development, benefiting over 87,000 people.

Governance Achievements

• Established a sustainability-linked revolving credit facility (RCF) with three sustainability-linked KPIs.
• Rewrote the Code of Conduct in 2021.
• Received an ESG Risk Rating of 9.5 from Sustainalytics, placing them in the top 1% of Utility companies globally.
• No material fines or sanctions for non-compliance with anti-corruption laws or regulations in 2021.

Climate Goals & Targets

Environmental Challenges

• Impact of COVID-19 pandemic on construction schedules and workforce.
• Irregular weather phenomena affecting project performance (heavy snowfalls, low wind speeds).
• Climate-related physical risks (storm intensification, increased rainfall, heatwaves, rising sea levels).

Mitigation Strategies

• Implemented a COVID-19 Mitigation Plan.
• Geographical diversification of projects.
• Technology diversification.
• Detailed civil design and planning.
• Pre-emptive O&M strategy.
• Comprehensive emergency response protocols.
• Robust insurance coverage.
• Selection of climate-resilient equipment and technologies.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• ESG due diligence on key suppliers.
• Compliance with ILO Core Conventions, ILO Basic Terms and Conditions of Work, and the UN Universal Declaration of Human Rights.

Climate-Related Risks & Opportunities

Physical Risks

• Storm intensification
• Increased rainfall
• Heavy snowfall
• Heatwaves/droughts
• Rising sea levels

Transition Risks

• Not disclosed

Opportunities

• Energy transition

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 14001/ISO 45001 (aligned)

Third-party Assurance: ERM CVS

UN Sustainable Development Goals

• 1
• 2
• 3
• 7
• 8
• 9
• 11
• 13
• 17

Vena Energy's activities align with the UN Sustainable Development Goals (SDGs) and contribute to nine of them.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Apex India OH&S Awards (Gold)
• HR Asia Best Companies to Work for in Asia
• The Asset Best Green Bond, Renewable Energy Deal of the Year, Battery Storage Deal of the Year, Renewable Energy Sponsor of the Year
• IJGlobal Awards Asia-Pacific Energy Storage Deal of the Year
• Singapore Red Cross United for Humanity Award

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Management
• Resource Management
• Occupational Health and Safety
• Community Engagement
• Diversity & Inclusion
• Talent Development
• Ethical Business Conduct
• Anti-Corruption
• Supply Chain Management
• Human Rights

Environmental Achievements

• Generated 3.7 TWh of clean renewable energy, equivalent to avoiding 2.7 million tonnes of CO2 emissions.
• Reduced water consumption by 5.1% compared to 2021.
• Reduced non-hazardous waste by 80.2% compared to 2021.
• Commissioned 10 projects (562 MW), including the first utility-scale battery project in Queensland, Australia and the largest solar PV project in Taiwan (272 MW E2 solar project).

Social Achievements

• Created over 5,000 local employment opportunities across multiple construction sites.
• Increased community engagement efforts through 191 different CSR activities.
• Achieved a 32% female representation, a 2 percentage points increase over two years since 2020.
• Achieved a 37% female gross hire percentage in 2022.
• Vena Energy Philippines named “Best Company to Work For in Asia 2022” by HR Asia for 2 consecutive years.

Governance Achievements

• Launched corporate level feedback channel managed by an independent third party.
• Introduced Group Integrity Awards to recognize ethical and integrity acts.
• Published Vena Energy’s first edition of a Supplier’s Code of Conduct.
• 99% of employees participated in 3 hours of compliance training.

Climate Goals & Targets

Environmental Challenges

• Extreme snow and landslides in Japan and Indonesia.
• Supply chain disruptions due to global inflation and price volatility in energy markets.
• Indirect Scope 3 emissions from manufacturing and transporting renewable energy equipment.

Mitigation Strategies

• Geographical diversification of projects.
• Technological diversification.
• Detailed civil design and planning.
• Pre-emptive O&M strategy.
• Comprehensive emergency response protocols.
• Insurance coverage.
• Engaging top 20 suppliers to understand and mitigate their emissions.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct
• ESG due diligence on key suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (snow, landslides, floods, cyclones)
• Extreme heat
• Wildfires

Transition Risks

• Not disclosed

Opportunities

• Growth in renewable energy sector due to increasing energy demand and government targets.

Reporting Standards

Frameworks Used: GRI Standards

Certifications: Null

Third-party Assurance: ERM CVS

UN Sustainable Development Goals

• SDG 1
• SDG 4
• SDG 7
• SDG 8
• SDG 11
• SDG 13
• SDG 14
• SDG 15

Vena Energy's initiatives contribute to these goals through clean energy generation, job creation, community development, environmental protection, and ethical business practices.

Sustainable Products & Innovation

• Utility-scale batteries
• Green hydrogen

Awards & Recognition

• IJ Global APAC Awards: Sponsor of the Year
• Triple A Awards: Renewable Energy Deal of the Year - Taiwan
• HR Asia Best Companies to Work For 2022 (Philippines)
• APEX India Occupational Health & Safety Award 2022

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Management
• Resource Efficiency
• Community Engagement
• Health and Safety
• Diversity and Inclusion
• Governance
• Supply Chain Management
• Human Rights

Environmental Achievements

• Generated 4.5 TWh of clean renewable energy, equivalent to avoiding 3.2 million tonnes of CO2 emissions.
• Reduced carbon intensity from 2.4 tCO2/GWh to 1.6 tCO2/GWh (33.6% improvement).
• Maintained a record of environmental compliance across the entire portfolio with no fines or sanctions.

Social Achievements

• Created 2,374 jobs across construction projects.
• Increased workforce by 16% to 963 employees.
• Launched Women Empowerment program.
• Received several awards including HR Asia’s Best Company to Work for in Asia in the Philippines and Indonesia.
• Conducted over 200 CSR initiatives.

Governance Achievements

• No material fines or sanctions for non-compliance with laws or regulations.
• 98% of employees participated in compliance training.
• All reported incidents and compliance breaches were properly investigated and addressed.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to global events.
• Intermittency of solar and wind energy.
• Physical climate risks (floods, cyclones, landslides, extreme heat, wildfires, extreme snow).
• Gender gap in the renewable energy industry.

Mitigation Strategies

• Developed alternative sourcing strategies and established partnerships with suppliers.
• Expanding battery project pipeline to enhance reliability of renewable energy.
• Implemented robust risk mitigation strategies (design, operations, emergency response, insurance).
• Developed MET ALERT weather monitoring system.
• Set diversity targets and implemented initiatives to address gender gap (Women Empowerment program, diversity-linked KPI in RCF).

Supply Chain Management

Supplier Audits: Independent ESG due diligence on key suppliers.

Responsible Procurement

• Vena Energy Procurement Policy and ESG Policy
• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Floods
• Cyclones
• Landslides
• Extreme heat
• Wildfires
• Extreme snow

Transition Risks

• Not disclosed

Opportunities

• Energy transition in APAC region.

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001, ISO 45001

Third-party Assurance: ERM CVS (limited assurance on environmental metrics and Scope 1 & 2 emissions)

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 13 (Climate Action)
• SDG 4 (Quality Education)
• SDG 5 (Gender Equality)
• SDG 15 (Life on Land)

Vena Energy's activities contribute to these SDGs through renewable energy development, job creation, community engagement, environmental conservation, and educational initiatives.

Sustainable Products & Innovation

• Energy storage solutions (stationary and transportable storage), green hydrogen.

Awards & Recognition

• HR Asia Best Companies to Work for in Asia 2023 (Philippines and Indonesia)
• HR Tech Festival Award for Best Workplace Culture & Engagement
• RoSPA Health and Safety Awards (Indonesia, Philippines, and Taiwan)
• APEX India Green Leaf Award 2023 for Sustainability