Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Occupational Health and Safety
• Talent Management
• Environmental Protection
• Regulatory and Legal Compliance

Environmental Achievements

• No reports/incidences of non-compliance with environmental laws and regulations for FY2019
• Implemented energy conservation measures in standard operating procedures, including switching off air-conditioning and electricity during non-working hours
• Encouraged double-sided printing and recycling/reuse of materials

Social Achievements

• Partnered with Care Corners Senior Services Ltd for Lunar New Year Charity Dinner and Hot Meals program for seniors
• Organized a blood donation campaign with Rawabi Holding Company Limited, donating 36 liters of blood
• Maintained a strong focus on safety, resulting in no fatalities in the workplace despite one incident involving a vessel collision

Governance Achievements

• Established a whistleblowing policy with direct access to the Audit Committee
• No whistleblowing reports or incidents concerning anti-corruption and anti-fraud regulations received
• Ensured compliance with all laws and regulations in environmental, social, and economic areas; no material breaches reported

Climate Goals & Targets

Environmental Challenges

• Challenging business environment for the OSV sector due to intense competition and slow recovery in the offshore marine market
• Geopolitical events leading to uncertainty around the world and various climate events
• Decline in profit in FY2019

Mitigation Strategies

• Focusing on long-term contracts with national oil companies
• Pursuing business opportunities with existing and new customers in Asia and the Middle East
• In-depth evaluation of asset carrying value to address market challenges

Supply Chain Management

Responsible Procurement

• Integrating sustainability criteria into supplier selection
• Monitoring risks in priority areas of the supply chain
• Working with suppliers to drive social and environmental change

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option, SGX-ST Practice Note 7F Sustainability Reporting Guide, SGX-ST Listing Rule 711A and 711B

Environmental Metrics

ESG Focus Areas

• Economic Growth
• Environmental Protection
• Employee Management
• Occupational, Health and Safety
• Regulatory and Legal Compliance

Environmental Achievements

• No recordable oil spill incident for FP2023
• All 5 port state control deficiencies addressed and rectified on the same day

Social Achievements

• Zero marine casualties in FP2023
• Zero cases of bribery and fines related to corruption and bribery
• Average of 5.16 hours of training per employee in FP2023
• Various community engagement initiatives including donations and volunteer work

Governance Achievements

• Board of Directors underwent a sustainability course prescribed by the Singapore Exchange (SGX)
• Zero incidents of corruption in FP2023
• Implemented a whistleblowing policy

Climate Goals & Targets

Environmental Challenges

• Achieving accurate emission data
• Refining calculation methodology for emission footprint
• Challenging operating environment in 2022/2023 due to geopolitical factors and record inflation

Mitigation Strategies

• Upgrading fleet to enable remote monitoring of assets for data accuracy
• Continuous refinement of emission calculation methodology
• Implementing a systematic procurement process system (planned for 2024)

Supply Chain Management

Responsible Procurement

• Supplier prequalification form considering HSE, quality, and financial factors (planned for 2024)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards 2021, TCFD, UN SDGs

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018

UN Sustainable Development Goals

• SDG 1
• SDG 3
• SDG 4
• SDG 5
• SDG 7
• SDG 8
• SDG 10
• SDG 12
• SDG 13
• SDG 16

Alignment of material topics with UN SDGs demonstrates commitment to sustainable development.

Sustainable Products & Innovation

• Energy-efficient technologies
• Digitalization and SMART solutions
• Electrification of fleet
• Alternative fuel solutions