MANAGEMENT APPROACH ST Engineering’s Board, EXCO and senior management are committed to a pathway towards net zero. In addition, stewardship of resources, including energy, water, and non-renewables are essential to the competitiveness of the Group. Commitment In 2021, we set a new target to achieve a 50% absolute Scope 1 and 2 GHG emissions reduction by 2030 compared to a 2010 base year. We will also continue to track overall emissions intensity for the Group. Over the next three years, we will also be expanding the tracking and disclosure of Scope 3 GHG emissions. The goal is to have a comprehensive global GHG emissions inventory by 2024, and to subsequently have the data externally verified under ISO 14064-1:2006 - Greenhouse Gases. With our commitment to the TCFD journey, the Group has begun to report on both risks and opportunities from climate change, and will expand this reporting over the next 2 years. Our integrated Environment, Health and Safety (EHS) policy and Environmental Pledge sets out our environmental expectations and standards. ENVIRONMENTAL → Environmental Protection Governance and Organisation The Group integrated multiple operations optimisation efforts into the Operational Excellence Steering Committee (OESC) in 2020. This comprises the operations leaders of each business area. In 2021, the OESC's Environment Committee was formed comprising representatives from each business area to focus on data gathering, reporting and initiatives for: • GHG emissions • Energy (fuel, electricity, heating, cooling) • Water (including recycling) • Waste (including recycling) The Environment Committee also advises the respective business area management teams and project manages key environmental initiatives across the Group. More details on our TCFD efforts are available on page 13 Emissions In 2014, the Group set a target for its Singapore operations to reduce GHG intensity by 16% by 2025, compared to a 2010 base year. This target was raised in 2018 to 36% by 2030, in alignment with Singapore’s Nationally Determined Contribution pledge. This was met in 2019 and in 2021 we committed to achieve a 50% absolute Scope 1 and 2 GHG emissions reduction by 2030 compared to a 2010 base year. Our material Singapore business units' GHG emissions are validated in accordance with ISO 14064-1:2006 - Greenhouse Gases by a reputable third party auditor. We continue to reduce our emissions through the following: • Optimising the energy efficiency of workplace processes and replace existing equipment with more energy efficient models when due for replacement • Preventing the contamination of surrounding air using air pollution control equipment such as scrubbers and spray booth exhausts • Monitoring and minimising stack emissions and the level of air pollutants • Reducing Scope 1 emissions by optimising our operational activities such as delivery runs, engine test cell usage and vehicle testing • Reducing Scope 2 emissions by installing solar PV systems across our global sites • Reducing Scope 3 emissions by reducing air travel and conducting virtual meetings where possible 17 ST ENGINEERING SUSTAINABILITY REPORT 2021 OVERVIEW OUR SUSTAINABILITY APPROACH ENVIRONMENTAL SOCIAL GOVERNANCE AWARDS INDEX
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