Climate Change Data

Yinson Holdings Berhad

Climate Impact & Sustainability Data (2019, 2024)

Reporting Period: 2019

Environmental Metrics

ESG Focus Areas

  • Environmental Conservation & Protection
  • Human Rights & Human Capital Development
  • Good Corporate Governance

Climate Goals & Targets

Supply Chain Management

Responsible Procurement
  • embed the sustainability principles in our supply chain management and ensure that our suppliers and subcontractors abide by the Group’s ethical values

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, Bursa Malaysia Sustainability Reporting Guide, United Nations Sustainable Development Goals

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:2,007,641 tCO2e
Scope 1 Emissions:43,487 tCO2e
Scope 2 Emissions:445 tCO2e
Scope 3 Emissions:2,004,635 tCO2e

ESG Focus Areas

  • Climate Change
  • Energy Transition

Environmental Achievements

  • Reduced carbon intensity of FPSO operations by 30% by 2030 (target)
  • Purchased 3,000 high-quality nature-based carbon credits
  • Achieved an overall Sustainalytics ESG Risk Rating of 17.4 (2023)

Social Achievements

  • Improved FTSE4Good ESG Rating: top 14th percentile in ICB Supersector (2023)
  • Ranked top 10th percentile by Sustainalytics (2023)
  • Launched 30 by 30 ESG targets to achieve by 2030

Governance Achievements

  • Established Board-level oversight and Management-level responsibility to govern climate-related issues
  • Streamlined governance with the integration of the Sustainability Committee into the Management Committee (2023)
  • Linked executive compensation to performance against sustainability KPIs

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero emissions by 2050 (Scopes 1, 2 & 3)
Medium-term Goals:
  • Achieve carbon neutrality by 2030 (Scopes 1 & 2)
  • Allocate 30% of total equity investment to non-oil-based FPSO activities by 2030
Short-term Goals:
  • Reduce carbon intensity of FPSO fleet by 30% by 2030

Environmental Challenges

  • Market demand shifts to favor low-carbon products and services
  • Changes in accessing equity and debt financing
  • Increased adoption of mandatory carbon-based regulations
  • Increased scrutiny from stakeholders regarding environmental impact
Mitigation Strategies
  • Adopting a three-pronged climate strategy: Carbon Reduction, Carbon Removal, and Carbon Compensation
  • Investing in the carbon value chain and low-carbon energy solutions
  • Implementing an Internal Carbon Pricing (ICP) framework
  • Developing and implementing Zero Emissions FPSO Concept technologies
  • Building strategic partnerships

Climate-Related Risks & Opportunities

Physical Risks
  • Increased severity of extreme weather events
  • Sea level rise
Transition Risks
  • Policy risks
  • Legal risks
  • Technology risks
  • Market risks
  • Reputation risks
Opportunities
  • Leveraging low-carbon solutions to create new business streams
  • Adopting cutting-edge technologies to enhance operational efficiency
  • Pursuing growth opportunities in renewable energy and green technology sectors

Reporting Standards

Frameworks Used: TCFD Recommendations, ISSB’s IFRS S2 Standard, Transition Plan Taskforce (TPT) Disclosure Framework, Bursa Malaysia Securities Berhad (Bursa Securities) Main Market Listing Requirements

Sustainable Products & Innovation

  • Zero Emissions FPSO Concept

Awards & Recognition

  • Recognised in S&P Global’s Sustainability Yearbook 2024