Climate Change Data

Mooreast Holdings Ltd.

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:320 tCO2e/year (Scope 2)
Scope 1 Emissions:Not applicable
Scope 2 Emissions:320 tCO2e/year
Scope 3 Emissions:Information unavailable
Renewable Energy Share:Approximately 50% (potential from solar panels)
Total Energy Consumption:798 MWh/year
Water Consumption:2.29 megalitres/year
Waste Generated:377 tons/year
Carbon Intensity:0.013 tCO2e/S$’000 revenue

ESG Focus Areas

  • Upholding Governance and Ethics
  • Building Climate Resilience
  • Protecting Our Environment
  • Pursuing Quality and Innovation
  • Safeguarding Health and Safety
  • Strengthening Our People and Community

Environmental Achievements

  • Successfully installed and begun utilizing electricity from solar panels within our operations, potentially generating enough energy to supply an estimated 50% of the Group’s energy requirements.

Social Achievements

  • Zero workplace fatalities, high-consequence work-related injuries and work-related ill health. 100% return to work and retention of employees who took parental leave in FY2023.
  • Donated 70 sets of refurbished desktops to underprivileged students in Cambodia and made cash donations to various organizations in Singapore.

Governance Achievements

  • Zero incidents of non-compliance with laws and regulations regarding environmental, economic and social issues. Zero reported incidents of corruption and whistle-blowing reports received.

Climate Goals & Targets

Long-term Goals:
  • To provide at least average 12 hours training per employee by FY2028
  • To provide at least 14 hours training for each employee from FY2030 onwards
Medium-term Goals:
  • To increase minimum number of training hours per employee to upgrade employees’ professional competency
  • To quantify Scope 3 GHG emissions in FY2026
Short-term Goals:
  • Increase the usage of renewable energy to reduce energy drawn from the electrical grid
  • Continue to monitor and improve the Group’s proportion of reusable waste
  • Maintain our ISO14001 and ISO45001 certifications
  • Provide 100% of eligible employees with performance reviews
  • To achieve zero workplace fatalities

Environmental Challenges

  • Higher carbon taxes and reduced demand for traditional offshore drilling platforms and vessels due to the transition to renewable energy.
  • Severe oceanic weather conditions affecting equipment reliability and installation.
  • Potential negative environmental impacts from supply chain and operations.
Mitigation Strategies
  • Installed solar panels to reduce energy costs and carbon emissions.
  • Diversified into mooring systems for floating renewable platforms.
  • Developed resilient mooring systems and incorporated severe weather conditions into equipment design.
  • Improved purchasing policy to include environmental and social factors in supplier screening.
  • Annual reviews and audits of key suppliers.

Supply Chain Management

Supplier Audits: Annual reviews and frequent audit checks of key suppliers; 92% of business expenditure in Mooreast Europe spent on local suppliers.

Responsible Procurement
  • Environmental and social factors included in screening processes for new suppliers; preference for ISO certifications; compliance with classification societies’ requirements for existing suppliers.

Climate-Related Risks & Opportunities

Physical Risks
  • Severe oceanic weather conditions affecting equipment reliability and installation
Transition Risks
  • Higher carbon taxes
  • Reduced demand for traditional offshore drilling platforms and vessels
Opportunities
  • Adoption of renewable energy in operations
  • Lower cost of financing green projects
  • Providing renewable energy to yard customers
  • Designing systems resilient to severe weather
  • Technological improvements in renewable energy storage and generation

Reporting Standards

Frameworks Used: GRI Standards 2021, GRI 11: Oil and Gas Sector 2021 Standards, TCFD

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO/TS 29001:2010

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 8 (Decent work and economic growth)
  • Goal 9 (Industry, innovation and infrastructure)
  • Goal 13 (Climate action)

Contributions through daily operations, strategy development, and collaboration with stakeholders; supporting renewable energy sector; providing safe and healthy workplace; promoting fair employment and equal opportunities; community engagement initiatives.

Sustainable Products & Innovation

  • MA9P anchor
  • Moorfloat (floating solar farm solution)

Awards & Recognition

  • Enterprise 50 Award – 2020