Sapura Energy Berhad
Climate Impact & Sustainability Data (2023-02-01 to 2024-01-31)
Reporting Period: 2023-02-01 to 2024-01-31
Environmental Metrics
Total Carbon Emissions:228,864 tCO2e/year
Scope 1 Emissions:218,039 tCO2e/year
Scope 2 Emissions:10,825 tCO2e/year
Total Energy Consumption:847,138 MWh/year
Water Consumption:464,890 m3/year
Waste Generated:16,477 tons/year
ESG Focus Areas
- Sustainable Economic Growth
- Shifting Towards Low-Carbon
- Caring for Our People
- Strengthening Integrity and Governance
Environmental Achievements
- 11% decrease in Scope 2 GHG emissions
- 13,072 tonnes of metal scrap were recycled across Sapura Energy
- Four minor oil spill incidents in FY2024, indicating 75 percent reduction of incidents from FY2023
- Launched Kitar Solutions, a strategic partnership offering integrated decommissioning services
Social Achievements
- 82.5% customer satisfaction score in FY2024
- 56% reduction in LTIF compared to the previous year
- 13,043 total attendees trained on Health & Safety
- Zero substantiated complaints against human rights violations
- Attrition rate halved from 25 percent in FY2023 to just over 12 percent in FY2024
- 335 promotions in FY2024
Governance Achievements
- Established the Group’s Sustainability Policy
- Introduced significant enhancements to our Code of Ethical Conduct
- Aligned Anti-Bribery and Anti-Corruption and Whistleblowing policies with organisational structure
- Developed new policies including Sustainability Policy, Directors’ Fit & Proper Policy, Personal Data Protection Policy, Corporate Disclosure Policy, and Board Diversity Policy
- Zero instances of confirmed corruption incidents in FY2023 and FY2024
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2050 (aligned with Malaysia's target)
Environmental Challenges
- Unsustainable financial condition and liquidity constraints
- Execution challenges due to legacy contracts not accounting for rapid market movements
- Limited access to working capital and bank guarantee facilities
- Competition
- Project execution challenges in Malaysia and West Africa
- Loss of a colleague in an offshore incident
Mitigation Strategies
- Debt restructuring and portfolio rationalisation (divestment of SapuraOMV Upstream)
- Reset plan to strengthen balance sheet, enhance operational excellence, and chart future business direction
- Portfolio rationalisation, focusing on core capabilities
- Bid Right, Execute with Discipline principle
- Strengthening operational performance through simplified organisation and improved business processes
- Forming alliances with key business partners
- Launch of Kitar Solutions for decommissioning services
- Intensified efforts to ensure a safe work environment
- Reintroduction of Stop Work Authority policy
- Measures to curb employee turnover (robust platform for career advancement, enhanced engagement, harmonised rewards structure)
- Strengthening talent development frameworks
Supply Chain Management
Responsible Procurement
- Prioritising local suppliers (47% in FY2024)
Climate-Related Risks & Opportunities
Transition Risks
- Decrease in demand for fossil fuels due to climate change and energy transition
Opportunities
- Growth in gas, renewables, and decommissioning projects
Reporting Standards
Frameworks Used: Bursa Malaysia Sustainability Reporting Guide (3rd Edition), Illustrative Sustainability Reporting Guide, GRI Standards, UN SDGs
Certifications: ISO 9001:2015, ISO 45001:2018
UN Sustainable Development Goals
- SDG 8
- SDG 12
- SDG 13
- SDG 16
Initiatives aligned with targets related to youth employment, natural resource management, climate change measures, and anti-corruption
Sustainable Products & Innovation
- Kitar Solutions