Kenon Holdings Ltd.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- OPC's use of gas for power generation, offering a lower carbon footprint than other fossil fuels.
- CPV's Keenan II Wind Plant offsetting carbon dioxide emissions equivalent to taking over 1 million cars off the road each year.
- CPV's development of 400+ MWs of renewable energy capacity at former coal mine sites.
- CPV's acquisition of four operating wind-powered electricity plants in Maine (81.5 MW).
- ZIM's long-term charter transactions of LNG dual-fuel vessels to reduce pollutant emissions.
Social Achievements
- Kenon's commitment to a diverse and inclusive workforce.
- Robust COVID-19 safety policies and procedures.
- Comprehensive health insurance and well-being benefits for employees.
- Paid parental and family care leave.
- Charitable contributions (over S$150,000 in 2020 and approximately S$35,000 in 2022).
- Employee volunteer program (Day of Service).
Governance Achievements
- Establishment of an ESG Committee.
- All directors considered independent according to NYSE standards.
- Code of Ethics and various compliance policies (Anti-Bribery & Corruption, Whistleblower, etc.).
- Commitment to complying with trade and economic sanctions.
- Anti-money laundering compliance program.
- Cybersecurity policies and procedures.
Climate Goals & Targets
Environmental Challenges
- The ever-growing threat of cyber attack.
- ESG regulation expected to intensify in the future for ZIM.
Mitigation Strategies
- Significant resource allocation to protecting and improving the security of systems.
- Regular cyber penetration tests and employee cybersecurity training.
- Engagement of independent internal auditors for cybersecurity audits.
- ZIM's focus on sustainability and compliance with future regulations.
Supply Chain Management
Responsible Procurement
- ZIM's supplier code of conduct.