Climate Change Data

HWA HONG Corporation Limited

Climate Impact & Sustainability Data (2019, 2020)

Reporting Period: 2019

Environmental Metrics

ESG Focus Areas

  • High standards of corporate governance
  • Regulatory compliance
  • Sustainable Business Growth
  • Stakeholder Communications
  • Fair employment practices

Social Achievements

  • Maintained stable workforce numbers.
  • 95% of workforce were Singaporeans.
  • Conducted yearly performance evaluation for 83% of employees.

Governance Achievements

  • Improved score in the Singapore Governance and Transparency Index (SGTI) from 208th to 179th.
  • Consistently participated in SIAS initiatives to uphold strong corporate governance.
  • No confirmed cases of corruption.
  • No material incidents of non-compliance with applicable laws and regulations.

Climate Goals & Targets

Supply Chain Management

Responsible Procurement
  • Only service providers verified to have the required license are allowed to carry out maintenance work and fitting-out works in the Group’s properties.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2016

Reporting Period: 2020

Environmental Metrics

ESG Focus Areas

  • Corporate Governance
  • Regulatory Compliance
  • Sustainable Business Growth
  • Stakeholder Communications
  • Fair Employment Practices

Social Achievements

  • Maintained a relatively constant workforce throughout the year with only one female non-executive team member turnover.
  • 94% of the workforce were Singaporeans.
  • Provided competitive pay packages benchmarked to the market and rewarded team members based on merit.
  • Offered various healthcare benefits, such as health insurance and health screenings, to full-time team members.
  • Provided additional leave days and flexible working arrangements.

Governance Achievements

  • Improved score in the Singapore Governance and Transparency Index (SGTI) from 179th to 174th in 2020.
  • Established a formalized risk management process.
  • Adopted an integrated Fraud Risk Management Framework to minimize fraud occurrences.
  • Adhered to the Code of Corporate Governance 2018 and relevant regulations.
  • Implemented a whistle-blowing policy.
  • No confirmed cases of corruption in FY2020 and FY2019.
  • No material incidents of non-compliance with applicable laws and regulations in FY2020 and FY2019.

Climate Goals & Targets

Environmental Challenges

  • COVID-19 pandemic and resulting global economic slowdown causing delays in a development project and impacting commercial properties in the UK.
  • Manpower shortage due to foreign worker dormitory lockdowns and closed borders impacting construction.
Mitigation Strategies
  • Restructured lease terms at 20 Midtown property.
  • Implemented measures to reduce the spread of COVID-19 at the workplace.
  • Supported virtual communication with customers, suppliers, and staff.
  • Took advantage of government support schemes such as Property tax rebate, Jobs Support Scheme, and Job Growth Incentive.

Supply Chain Management

Responsible Procurement
  • Only service providers verified to have the required license are allowed to carry out maintenance work and fitting-out works.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2016