Climate Change Data

ST Engineering

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:3430 tCO2e/year
Renewable Energy Share:13% (Singapore operations)
Total Energy Consumption:549000 GJ/year
Water Consumption:588000 m3/year (Singapore operations)
Waste Generated:26900 tons/year (Singapore operations)
Carbon Intensity:12 tCO2e/$million revenue in 2022

ESG Focus Areas

  • Climate Change
  • Economic Performance & Productivity
  • Technology & Innovation
  • Responsible & Resilient Supply Chain
  • Environmental Protection
  • Sustainable Quality Products & Solutions
  • People Excellence
  • Total Workplace Safety & Health
  • Corporate Community Contributions
  • Ethical Business & Regulatory Compliance
  • Cybersecurity & Data Protection

Environmental Achievements

  • Reduced absolute GHG emissions by 37% compared to 2010 baseline.
  • Increased renewable energy share in Singapore operations from 8% to 13% of total electricity used.
  • Achieved a waste recycling rate of 75% in Singapore operations.
  • Reduced emissions by at least 80 tCO2e/year by implementing a smart building management system in Singapore.

Social Achievements

  • Launched a 24-hour mental support helpline for employees in Singapore.
  • Contributed close to $2.9m to community causes.
  • Average training hours per employee: 22.5 hours.
  • No cases of discrimination lodged.

Governance Achievements

  • Published first TCFD analysis.
  • Updated Enterprise Risk Management (ERM) framework to incorporate climate-related considerations.
  • Launched initiative to enhance monitoring of emerging risks.
  • Zero substantiated cases of bribery and corruption.
  • Zero significant regulatory non-compliances.

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions (target year not specified).
Medium-term Goals:
  • Halve absolute Scope 1 and 2 GHG emissions by 2030 (2010 baseline).
  • Increase sustainability-linked revenue to more than $3 billion by 2026.
Short-term Goals:
  • Reduce water usage intensity in Singapore operations by 15% by 2025 (2015 baseline).

Environmental Challenges

  • Potential impact of carbon tax and costs passed through suppliers.
  • Shifts in demand and innovation within industries.
  • Impact on supply chain from climate change and other macro trends (geopolitical tensions, pandemic, inflation, energy costs).
  • A fatal accident occurred in December 2022.
Mitigation Strategies
  • Monitoring carbon price and sector-specific regulations.
  • Tracking sectoral structural shifts and investing in climate-related business and technology opportunities.
  • Reviewing climate risks in the broader supply chain and addressing them through sustainability initiatives.
  • Implemented a group-wide Safety Time-Out, reviewed material handling operations, intensified safety assessments, and emphasized workplace safety.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct
  • ESG criteria in screening of new suppliers
  • Incorporation of Supplier Code of Conduct into purchase orders (Singapore operations)

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Extreme weather events
  • Increasing temperatures
Transition Risks
  • Regulatory changes
  • Market shifts
  • Rising cost of carbon
Opportunities
  • Energy management and efficiency
  • Recycling and reuse
  • Technology-enabled carbon verification solutions
  • Sustainable Aviation Fuel (SAF) adoption
  • Circular economy businesses (P2F conversions)
  • Materials recycling and reuse

Reporting Standards

Frameworks Used: GRI Standards, SGX Listing Rules 711A, 711B and Practice Note 7.6, SASB Aerospace and Defence standards, TCFD recommendations, UNGC

Certifications: ISO 14001 (Singapore entities), ISO 45001 (Singapore entities), ISO 9001 (majority of operations) or equivalent, AS 9100D (relevant business units)

Third-party Assurance: LRQA Limited (GHG emissions data for Singapore entities)

UN Sustainable Development Goals

  • Goal 8: Decent Work and Economic Growth
  • Goal 9: Industry, Innovation and Infrastructure
  • Goal 11: Sustainable Cities and Communities
  • Goal 12: Responsible Consumption and Production
  • Goal 13: Climate Action
  • Goal 16: Peace, Justice and Strong Institutions

The report details how ST Engineering's initiatives contribute to these goals through various programs and operations.

Sustainable Products & Innovation

  • Airbitat Data Centre Cooling System
  • Carbon Prospecting Dashboard
  • P2F Conversions
  • Ship Conversions
  • Integrated Waste and Water Treatment Solutions
  • Smart City solutions
  • Electric and Autonomous Vehicles

Awards & Recognition

  • Dow Jones Sustainability Asia Pacific Index
  • iEdge SG ESG Transparency Index
  • iEdge SG ESG Leaders Index
  • WSH Innovation Awards (Singapore)
  • Food For Neighbour’s Community Champion

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:37,749 tCO2e (Scope 1,2 & 3)
Scope 1 Emissions:3678 tCO2e
Scope 2 Emissions:1730 tCO2e
Scope 3 Emissions:32341 tCO2e
Renewable Energy Share:12%
Total Energy Consumption:1500000 GJ
Water Consumption:796000 m3
Waste Generated:20916 tons
Carbon Intensity:11 tCO2e/$million revenue in 2023

ESG Focus Areas

  • Climate Change
  • Economic Performance & Productivity
  • Technology & Innovation
  • Responsible & Resilient Supply Chain
  • Environmental Protection
  • Sustainable Quality Products & Solutions
  • People Excellence
  • Total Workplace Safety & Health
  • Corporate Community Contributions
  • Ethical Business & Regulatory Compliance
  • Cybersecurity & Data Protection

Environmental Achievements

  • Reduced absolute Scope 1 and Scope 2 GHG emissions by 36% over 2010 base year
  • 12% of electricity consumption from global operations derived from renewable energy
  • Recycled 67% of 20,916 tonnes of waste generated in Singapore operations
  • Reduced energy consumption by 9% in Belgium laboratories over nine months through CI initiatives

Social Achievements

  • Zero fatalities in operations
  • Lowered major injuries year-on-year
  • Launched Group’s DEI commitment statement
  • Launched series of upskilling and retraining programmes for employees
  • Finalised first Collective Agreement with STESU in Singapore
  • Contributed $2.3m to community causes

Governance Achievements

  • Zero substantiated cases of bribery and corruption
  • Established a supply chain resilience framework
  • Incorporated ESG criteria into suppliers’ tender evaluation
  • Formalised the Emerging Risk Management Framework

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions (long-term goal mentioned, specific year not stated)
Medium-term Goals:
  • Halve absolute Scope 1 and Scope 2 GHG emissions by 2030 compared to 2010
  • Increase sustainability-linked revenue to more than $3 billion by 2026
Short-term Goals:
  • Continue to increase year-on-year planned productivity savings
  • Improve RFR and RSR by 5%
  • Enhance and fine tune data collection processes

Environmental Challenges

  • Supply chain disruptions due to geopolitical tensions and climate change
  • Climate change related physical and transition risks
  • Cybersecurity threats
Mitigation Strategies
  • Developed alternative sourcing strategies and a supply chain resilience framework
  • Implemented an internal shadow carbon price on major capital expenditure
  • Established roadmaps for development of product carbon footprint
  • Strengthened ERM framework to incorporate climate-related considerations
  • Launched Emerging Risk Management Framework
  • Implemented a multi-layered security framework and regular cybersecurity training

Supply Chain Management

Supplier Audits: Regular quality audits and ESG questionnaires

Responsible Procurement
  • Supplier Code of Conduct
  • ESG assessment as part of tender evaluation criteria

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
Transition Risks
  • Regulatory changes, market shifts
Opportunities
  • Energy management
  • Composites recycling and applications
  • Technology-enabled carbon verification solutions

Reporting Standards

Frameworks Used: GRI Standards, SASB Standards – Aerospace and Defence, TCFD recommendations, UNGC

Certifications: ISO 14001, ISO 45001, ISO 9001

Third-party Assurance: Lloyd’s Register Quality Assurance Ltd (for Singapore entities’ GHG emissions)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • AGIL® Intelligent Traffic Management Systems
  • AGIL® Smart Water Solutions
  • P2F conversions
  • AUTONOMAST™
  • ACCESS expandable cabin lavatory solution
  • 8520C E-Paver

Awards & Recognition

  • Community Chest Awards – Charity Platinum Award (Fifth Consecutive Year)
  • MRO Asia Pacific Awards 2023 – Sustainability Initiative of the Year
  • National Environment Agency Energy Efficiency National Partnership Award for Excellence in Energy, Greenhouse Gas (GHG) Management (Honourable Mention)
  • Duke Energy’s Business Energy Excellence Award (LeeBoy)