Climate Change Data

Environmental Metrics

ESG Focus Areas

• Network Reliability
• Innovation
• Customer Empowerment

Environmental Achievements

• Reduced carbon footprint by 19% compared to FY2018/2019; Customers avoided more than 29,000 tonnesCO2e through low-carbon solutions.
• Installed a hydrogen energy system at the Woodleigh Park training centre, making it the first zero-emission building in Southeast Asia powered by green hydrogen.
• Implemented a zero-waste solution at Gardens by the Bay, reducing waste volume to 5% and emissions by up to 20%.

Social Achievements

• Facilitated the switch for 46% of residential customers and 43% of small business customers to the Open Electricity Market, enabling savings of 20% to 30%.
• Launched My Carbon Footprint calculator and GreenUP initiative on the SP Utilities app to increase environmental awareness.
• Engaged students from Nanyang Polytechnic to develop gas safety awareness videos.

Governance Achievements

• Launched the world’s first Smart Grid Index (SGI) to benchmark grid smartness across 75 utilities from 35 countries.
• Signed an agreement with the International REC Standard Foundation to be the first authorized local issuer of I-RECs in Asia Pacific.
• SP Group represents Singapore in the Heads of ASEAN Power Utilities Authorities (HAPUA).

Climate Goals & Targets

Environmental Challenges

• Inherent GHG emissions from technical losses in the distribution and transmission network.
• Singapore's limited land for scaling up renewable energy systems.
• Increasing waste generation in Singapore.

Mitigation Strategies

• Commitment to identifying opportunities to reduce emissions from other key business activities.
• Collaboration with neighboring countries on cross-border power supply and using renewable energy credits.
• Piloting a zero-waste solution using compact gasification technology to convert waste into thermal energy and biochar.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

UN Sustainable Development Goals

• SDG 7

SP Group’s sustainability strategy anchors around the United Nation’s Sustainable Development Goal (SDG) 7 – to ensure access to reliable, sustainable and modern energy for all.

Sustainable Products & Innovation

• Smart Grid Index
• Blockchain-powered Renewable Energy Certificate marketplace
• Integrated Energy Solutions system
• Micro-climate control solution
• Tenancity energy-efficient solution
• My Carbon Footprint calculator
• GreenUP initiative

Awards & Recognition

• 2019 Minister for National Development’s R&D Merit Award

Environmental Metrics

ESG Focus Areas

• Network Reliability
• Innovation
• Customer Empowerment

Environmental Achievements

• Avoided more than 206,000 tonnes CO2e, equivalent to planting more than 10 million rain trees or taking more than 180,000 cars off the road for a year
• Marina Bay district cooling system helped customers avoid more than 21,000 tonnes CO2
• Tampines Central Distributed District Cooling (DDC) network will help reduce carbon emissions by 1,359 tonnes annually
• Tengah residential district cooling system expected to save at least 30 GWh of electricity per year
• STMicroelectronics district cooling plant will help reduce carbon emissions of up to 120,000 tons per year
• Raffles City Chongqing district cooling plant helped avoid more than 4,000 tonnes CO2
• 4.5 MWp of solar panels installed, helping customers avoid more than 2,300 tonnes CO2e
• Almost 800 kWp of solar panels installed across SP premises, avoiding close to 370 tonnes CO2e

Social Achievements

• 179,000 hours of staff training and development provided
• $4.5 million in donations, sponsorships and volunteer manpower
• Zero fatalities, Lost time injury frequency rate of 0.42 per million working hours

Governance Achievements

• Adoption of TCFD recommendations
• Established a Green Financing Framework

Climate Goals & Targets

Environmental Challenges

• Riverine Flooding
• Coastal Flooding
• Heavy Precipitation
• Air Surface Temperature Change
• Increased expectations from regulatory bodies for organisations to track and publicly report on GHG emissions or climate risks
• Shift in investor preference and emergence of responsible investment mandates
• Changing the energy mix due to the adoption of distributed renewable energy resources may impact overall grid stability and flexibility

Mitigation Strategies

• Monitoring updates for future Singapore flood maps
• Monitoring maximum air surface temperatures and ensuring equipment specifications are within limits
• Climate risk disclosure included in SP’s annual Sustainability Review, with GHG emissions data externally assured
• Climate risks discussions incorporated into the Board agenda and company’s strategy
• Investing in upgrading grid network infrastructure and adopting new technologies
• Investments in energy-efficient technologies

Climate-Related Risks & Opportunities

Physical Risks

• Riverine Flooding
• Coastal Flooding
• Heavy Precipitation
• Air Surface Temperature Change

Transition Risks

• Policy and Legal
• Market
• Technology

Opportunities

• Increasing access to new markets
• Developing innovative products and services

Reporting Standards

Frameworks Used: TCFD, ISO 14064-1:2018, ISO 14064-3:2019

Certifications: ISO 45001

Third-party Assurance: LRQA

UN Sustainable Development Goals

• SDG 7
• SDG 9

Initiatives aligned with SDG 7 (affordable and clean energy) and SDG 9 (industry, innovation, and infrastructure).

Sustainable Products & Innovation

• District cooling
• Electric vehicle charging
• Renewables
• Energy as a service
• GET™ TenantCare
• Utilities Monitoring & Insights
• Smart meters
• Green Energy Tech (GET™)

Awards & Recognition

• Labrador Tower achieved Green Mark Platinum Super Low Energy (SLE) certification

Environmental Metrics

ESG Focus Areas

• Network Reliability
• Innovation
• Customer Empowerment

Environmental Achievements

• Avoided more than 778,575 tonnesCO2e emissions through low carbon initiatives (district cooling, solar, electromobility), equivalent to planting over 38 million rain trees or removing over 707,796 cars from the road for a year.
• Installed rooftop solar panels at 6 substations (7.1 MWp) by end of 2023, with a plan to complete 37 substations (15.7 MWp) by 2025.
• Installed 8.5 MWp of solar panels for customers, helping them avoid close to 4,000 tonnesCO2e.
• Installed close to 800 kWp of solar panels across SP premises, avoiding close to 321 tonnesCO2e.

Social Achievements

• Zero fatalities and a Lost Time Injury Frequency Rate of 0.37 per million working hours.
• Provided 155,000 hours of training and development.
• Donated over S$5 million and provided staff volunteering time towards various community causes.
• Supported KidSTART Singapore with a S$1.1 million donation, benefiting over 3,000 children and families.
• Donated S$750,000 to Youth Guidance Outreach Services (YGOS).

Governance Achievements

• Implemented a robust Enterprise Risk Management (ERM) framework, including climate-related risks.
• Established a Green Financing Framework in 2020.
• Welcomed a new Chairman and Board member in 2023.
• Consistently reported climate risk disclosure in annual Sustainability Review since FY21/22.

Climate Goals & Targets

Environmental Challenges

• Riverine flooding, coastal flooding, heavy precipitation, and increased air surface temperature impacting infrastructure and operations.
• Increased regulatory expectations for GHG emissions reporting and climate risk disclosure.
• Shift in investor preferences towards responsible investments.
• Changing energy mix impacting grid stability due to distributed renewable energy resources.

Mitigation Strategies

• Monitoring updates for future Singapore flood maps and ensuring aboveground infrastructure is located above the Minimum Platform Level (MPL).
• Including climate risk disclosure in annual Sustainability Review.
• Incorporating climate risks into company strategy and Board agenda.
• Investing in grid network infrastructure upgrades and adopting new technologies to enhance grid stability and flexibility.

Supply Chain Management

Responsible Procurement

• Conducted basic ESG training for tier 1 suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Riverine Flooding
• Coastal Flooding
• Heavy Precipitation
• Air Surface Temperature Change

Transition Risks

• Policy and Legal changes
• Market shifts
• Technological changes

Opportunities

• Increased adoption of sustainable and low-carbon solutions by corporations.

Reporting Standards

Frameworks Used: TCFD

Certifications: ISO 45001

UN Sustainable Development Goals

• SDG 7 (Affordable and Clean Energy)
• SDG 9 (Industry, Innovation and Infrastructure)

Initiatives align with targets for clean energy access, renewable energy share, energy efficiency, reliable infrastructure, and sustainable infrastructure.

Sustainable Products & Innovation

• District cooling
• Electric vehicle charging
• Renewable energy solutions
• Digital energy management tools
• Green Energy Tech (GETTM)

Awards & Recognition

• Community Chest Platinum, Volunteer Partner and Enabler Awards
• Champions of Good
• Community Cares Award
• President’s Certificate of Commendation
• COVID-19 Resilience Certificate
• Global Healthy Workplace certification by the Global Centre for Healthy Workplace (GCHW)