REVEZ Corporation Ltd
Climate Impact & Sustainability Data (2020, 2022, 2023)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Governance
- Responsible digitalization
- Talent management
Social Achievements
- Implemented a wide variety of retention strategies including improved onboarding processes, recognition, engagement and award schemes, benefits enhancements and work-life balance initiatives.
- Developed and commercialised virtual event solutions for hybrid events, used in the Singapore Week of Innovation and Technology (SWITCH) 2020.
Governance Achievements
- Participated in the Intangible Disclosure Evaluation and Audit Scheme (IDEAS) Pilot.
- Established an IP-centric strategy to safeguard all IP and technological research.
- Successfully trademarked logo and tagline.
Climate Goals & Targets
Short-term Goals:
- Reduce employee turnover rate to 10% in 2021
Environmental Challenges
- COVID-19 disrupted project delivery timelines.
- Some customers unable to fulfill contractual obligations.
- Employee turnover rate above target (13.6% vs 6.6%).
Mitigation Strategies
- Delayed and extended supplier delivery deadlines.
- Adopted a flexible and consultative approach with customers (extended deadlines/contracts).
- Aim to reduce employee turnover rate to 10% in 2021 through continued engagements and communication.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI Standards (2016)
Sustainable Products & Innovation
- Virtual event solutions
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:7.53 tCO2e
Scope 2 Emissions:7.53 tCO2e
Total Energy Consumption:66,795.55 MJ
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced energy consumption by approximately 41% from FY2021 to FY2022. This reduction was primarily due to the disposal of AIAC and ceased operation of IOIO.
- Reduced GHG emissions by approximately 41% from FY2021 to FY2022. This reduction was primarily due to the disposal of AIAC and ceased operation of IOIO.
Social Achievements
- Implemented a wide variety of retention strategies including improved onboarding processes, recognition, engagement and award schemes, benefits enhancements and work-life balance initiatives.
- Provided learning opportunities for employees, such as short digital learning courses and workshops to enhance technical skills.
Governance Achievements
- Zero cases of violations in FY2022 relating to ethics and compliance.
- Zero cases of violations in data breach or data integrity in FY2022.
- Implemented a comprehensive security procedure when deploying business activities to reduce any risk of data breach due to employee carelessness or errors. All relevant employees are trained to understand the security system procedures.
Climate Goals & Targets
Short-term Goals:
- Reduce employee turnover rate to 10% in FY2023
Environmental Challenges
- Attracting and retaining well-qualified talent in a competitive job market.
- Shortage of skilled manpower.
Mitigation Strategies
- Working with an offshore service provider to support its Singapore workforce so as to spread out workloads for regional projects, while maintaining high standards of excellence and productivity.
- Continued engagements and communication to reduce employee turnover rate to 10% in FY2023.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI Standards
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:3.47 tCO2e/year
Scope 1 Emissions:0 tCO2e/year
Scope 2 Emissions:3.47 tCO2e/year
Total Energy Consumption:29,999.20 MJ (approximately 8333.11 MWh)
Carbon Intensity:0.0011 tCO2e/SGD 1,000 of revenue (FY2023)
ESG Focus Areas
- Environmental Stewardship
- Social Responsibility
- Governance
Environmental Achievements
- Reduced energy consumption by approximately 55.1% from FY2022 to FY2023. Reduced GHG emissions by approximately 53.9% from FY2022 to FY2023.
- Implemented energy-efficient LED bulbs in Magenta Wellness Pte Ltd offices.
- Promoted paper reduction and digital document management in Magenta Wellness Pte Ltd.
Social Achievements
- Maintained 0% employee turnover rate in FY2023 (excluding disposed subsidiaries).
- Implemented strategies for employee retention, including improved onboarding, recognition initiatives, and work-life balance programs.
- No substantiated complaints concerning breaches of customer privacy or data loss.
Governance Achievements
- Zero ethics and compliance violations in FY2023.
- Four out of five board members completed sustainability training.
- Board diversity of 20% female representation.
Climate Goals & Targets
Long-term Goals:
- Reduce energy intensity by 5% to 10%
- Maintain high customer service standards and promptly address complaints
- Certify internal data protection SOPs with ISO27001 certification
Medium-term Goals:
- Reduce energy intensity by 5%
- Expand service provider network to include government hospitals, TCM practitioners, and dentists
- Implement cybersecurity measures to enhance data privacy
Short-term Goals:
- Reduce energy intensity by 5%
- Increase medical service providers to 700 clinics by 2024
- Maintain high customer service standards with zero negative feedback
Environmental Challenges
- Significant changes in company structure due to disposal of subsidiaries (RM and PGK) and acquisition of MW, impacting data comparability.
- Understanding and managing climate-related risks and opportunities in the newly transitioned healthcare sector.
Mitigation Strategies
- Established a team to develop climate-related policies, set targets, and monitor progress.
- Implementing energy efficiency measures and promoting energy conservation practices.
- Actively engaging with stakeholders to promote sustainable practices and enhance transparency and accountability.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI Standards 2021, TCFD