HIAP SENG INDUSTRIES LIMITED
Climate Impact & Sustainability Data (2022-04-01 to 2023-03-31, 2023, 2024)
Reporting Period: 2022-04-01 to 2023-03-31
Environmental Metrics
Renewable Energy Share:0%
Total Energy Consumption:2858 GJ
Water Consumption:1052 m3
Waste Generated:19.7 tons (non-hazardous)
ESG Focus Areas
- Human capital management
- Occupational health and safety
- Governance
- Energy consumption
- Water consumption
- Waste management
- Product quality and safety
- Responsible supply chain
- Regulatory compliance
Environmental Achievements
- Total electricity and diesel consumption reduced by 50% year-on-year, with diesel consumption reduced by 13%
- Achieved target of increasing the proportion of energy-efficient lighting used in office & workshop to 68%
- Overall water consumption decreased in workshop facilities and project sites (80% decrease in office and workshop)
- Total amount of non-hazardous waste disposed decreased
- No release of contaminating fluids or toxic waste into the environment
Social Achievements
- Total training hours provided to all employees amounted to more than 3600 hours
- Implemented telecommuting and staggered work hours arrangements for employees to encourage work-life balance
Governance Achievements
- No reported incidents of violation and grievances
- No reported incidents of corruption
- Maintained full compliance with all regulations
Climate Goals & Targets
Long-term Goals:
- Maintain full compliance to all regulations
Medium-term Goals:
- Expand supplier assessment and implement additional considerations (e.g., environmental, social, productivity)
Short-term Goals:
- Increase office and workshop energy-efficient lighting usage to 80%
- Include water management procedures into IMS
- Implement at least 1 new initiative that improves the workplace environment
- Adopt Tripartite Standards on flexible work arrangement
Environmental Challenges
- Challenging economic conditions resulting in the unavoidable necessity to adjust the workforce level in relation to the activity levels forecasted
- High turnover rates
- Reduction in fabrication activities leading to decreased hazardous waste
Mitigation Strategies
- Adjusting workforce levels based on activity levels
- Offering flexible work arrangements
- Implementing procedures for water management to minimize potable water consumption
- Continuing efforts for reduction of material usage
Supply Chain Management
Supplier Audits: 100% of procurement expenditure was from local suppliers
Responsible Procurement
- Evaluating suppliers based on a set of criteria
- Re-evaluation cycle for previously approved suppliers
- Engaging bizSAFE certified suppliers
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI 2021 Standards
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, bizSAFE Star, bizSAFE Partner
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Safety
- Environmental Responsibility
- Sustainable Practices
- Talent Development
- Employee Engagement
Environmental Achievements
- Minimising carbon footprint
- Embracing energy-efficient solutions
Social Achievements
- Upholding highest safety standards
- Talent development and employee engagement initiatives
Governance Achievements
- Generally complied with the principles and recommendations of the Code of Corporate Governance 2018
Climate Goals & Targets
Environmental Challenges
- Tough and intense competition
- Lower volume of shutdown activities
- Higher costs of operation due to high inflation and tighter margins amid new regulations
- Lower gross profit margin
- Disposal of subsidiaries
- Judicial Management since 15 September 2020
Mitigation Strategies
- Cost cutting measures
- Strengthening maintenance capabilities
- Growing company reserves
- Working closely with Judicial Managers in restructuring the business
- Proposed Transaction with investors
- Rights issue exercise to raise up to S$3.3 million
- Continue to source for upcoming shutdown and maintenance contracts
- Implement cost containment measures
- Renew relationships with past customers and the provision of comprehensive scale of services to clients, including supporting their green initiatives
- Close down/divest the Company’s non-core investments to reduce overheads
- Explore available options in utilising any part of the premises/assets for value
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2024
Environmental Metrics
Renewable Energy Share:0%
Total Energy Consumption:2728 GJ
Water Consumption:498 m3
Waste Generated:3.8 MT (non-hazardous)
ESG Focus Areas
- Energy consumption
- Water consumption
- Waste management
- Human capital management
- Occupational health and safety
- Product quality and safety
- Responsible supply chain
- Regulatory compliance
Environmental Achievements
- Total electricity and diesel consumption reduced by 30% year-on-year
- Achieved target of increasing the proportion of energy-efficient lighting used in office & workshop to 80%
- Achieved target of decreasing water consumption in the office and workshop by 50%
- Total amount of non-hazardous waste disposed decreased
- Amount of hazardous waste disposed remained 0 MT
Social Achievements
- Total training hours provided to all employees amounted to more than 5300 hours
- Implemented telecommuting and staggered work hours arrangements for employees
Governance Achievements
- Recorded a 0 total recordable injury rate (TRIR)
- 100% of procurement expenditure was from local suppliers
- No incidents of non-compliance concerning the health and safety impacts of our products and services
- No warnings, fines or penalties incurred
Climate Goals & Targets
Long-term Goals:
- Invest in solar panels installation to reduce carbon footprint
- Maintain or reduce water consumption in office and workshop (using 1052 m3 in FY2023 as baseline)
Medium-term Goals:
- Maintain or reduce energy consumption (using 2,858 GJ in FY2023 as baseline)
- Maintain or reduce water consumption in office and workshop (using 1052 m3 in FY2023 as baseline)
- Collect rainwater in the Group’s yard for non-potable uses
- Review and evaluate the Group’s management approach to responsible supply chains
- Expand the Group’s supplier assessment
Short-term Goals:
- Maintain or reduce energy consumption (using 2,858 GJ in FY2023 as baseline)
- Maintain or reduce water consumption in office and workshop (using 1052 m3 in FY2023 as baseline)
- No release of contaminating fluids or toxic waste into the environment
- Zero incidents of non-compliance relating to discrimination, forced labour, child labour or freedom of association
- Achieve a TRIR of not more than 0.3
- Continue incorporating quality and safety considerations in projects, maintain compliance without safety incidents
- Majority of procurement from local suppliers
- Maintain full compliance to all regulations
Environmental Challenges
- Challenging economic conditions resulting in the unavoidable necessity to adjust the workforce level in relation to the activity levels forecasted
- High turnover rates affecting the bottom line through higher training costs and impacting knowledge continuity
Mitigation Strategies
- Fair labour practices aligned with TAFEP
- Closely ensuring compliance to legal regulations for foreign workers
- Providing adequate dormitory facilities for foreign workers
- Public recruitment channels and referrals for talent attraction
- Mandatory and specialized trainings for workers
- Incentives and benefits such as hospital and surgical insurance coverage
Supply Chain Management
Supplier Audits: Regular re-evaluation cycle
Responsible Procurement
- Engaging bizSAFE certified suppliers
- 100% procurement from local suppliers
Climate-Related Risks & Opportunities
Opportunities
- Investing in solar panels
Reporting Standards
Frameworks Used: GRI 2021 Standards
Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, bizSAFE Star, bizSAFE Partner