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Reporting Structure

ST Engineering’s Risk and Sustainability Committee (RSC) assists the Board in the oversight and governance of risk and internal controls, as well as sustainability governance responsibility. The RSC is supported by the Group Risk and Assurance function and the Group Strategy and Sustainability function, accountable to the Group CFO and Group President & CEO respectively.

Reporting Approach

We have been reporting aspects of our sustainability efforts since our formation in 1997 and in 2011, evolved that into a sustainability segment within our annual report, guided by Singapore’s internationally benchmarked Business Excellence Framework. In 2014, we formalised that into our maiden Sustainability Report prepared in accordance with GRI Standards: Core Option, and with reference to the LBG framework for corporate community contributions. In 2016, we further aligned the Sustainability Report to the SGX Sustainability Reporting Guide and renamed the ST Engineering Risk Review Committee as the Risk and Sustainability Committee (RSC) to formalise its oversight of sustainability matters.

In 2019, we affirmed our support of all the United Nations 17 Sustainable Development Goals and identified six goals where the Group has more contributions in terms of our internal practices, and the products and services we offer to our customers.

We identify and prioritise sustainability issues that matter most to ST Engineering and our stakeholders through materiality assessments.

Our Enterprise Risk Management Framework provided the backdrop upon which the sustainability materiality assessment was carried out and reviewed, with both financial and non-financial impact assessed against the Group’s risk tolerance limits and implications for our key stakeholders.

Material Stakeholders & Engagement

We believe that creating sustainable value for our stakeholders is essential to the Group’s long-term success. Engaging our stakeholders enables us to understand and address their concerns, and strengthen crucial relationships for which our business is dependent on. Material stakeholders are identified as part of the ST Engineering’s Enterprise Risk Management process, based on the magnitude these parties can impact or be impacted by the Group’s activities.

Material Stakeholders

Shareholders & Investors

Shareholders and investors play a significant role in the financing and governance of our business. We engage our shareholders annually through our AGMs and our institutional investors, proxy advisors and ESG analysts through our annual investor relations calendar of activities and other communication channels. We are committed to provide timely, comprehensive and balanced information on the Group’s performance, business developments and challenges.


Customer satisfaction is crucial to our success. We forge enduring relationships with our customers and make sure our products and services stay relevant, are safe and reliable, and meet their expectations. We do this through frequent engagements and feedback channels including annual customer surveys to determine satisfaction levels and develop action plans to continually enhance areas such as quality, delivery, responsiveness, service levels and value add of our products and services.

Regulators & Governments

Disclosing pertinent information in a clear and concise manner on a timely basis, and complying with listing, legal and regulatory requirements in the jurisdictions where we operate and the industries we are in are part of our commitment to good corporate governance. We monitor developments around regulations closely and provide feedback as needed to regulators on new or revisions to regulations.

Employees & Other Workers

People are our most valuable asset. We focus our efforts in enhancing our capability and capacity for growth, strengthening a passionate and engaged workforce, and being at the forefront of people practices. We engage our people through open dialogues, continuous performance feedback, regular town halls, internal communications channels including our intranet, grievance mechanisms and whistle-blowing channels.

Suppliers & Collaborators

Strong, ethical and mutually beneficial relationships with suppliers and collaborators are cornerstones of our business. We engage suppliers through our vendor management programmes and stay connected with collaborators through frequent exchanges.

Local Communities

We are committed to contribute to the development of our host communities. Our operations generate employment, collaborations with local institutions, contracts for local small-medium enterprises, and tax revenues for governments. We act responsibly, protect our environment and also contribute to our communities’ well-being through our corporate community contributions.