MANAGEMENT APPROACH Commitment ST Engineering’s Board, EXCO and senior management are committed to enabling our customers on their sustainability journeys via green products and services. We will continue to quantify our GHG emissions impact on our customers, as we work with our supply chain to understand the product carbon footprint of each of our offerings. Governance and Organisation At Board-level, the Research, Development & Technology Committee oversees policies for our technology development and innovation efforts. The Group’s Chief Operating Officer (Technology & Innovation) and Chief Technology & Digital Officer lead the efforts in R&D, product development and innovation across our businesses globally. The Innovation Technology Committee (ITC) provides leadership and direction, and coordinates the prioritisation of R&D and innovation investments, including in sustainability-related technology initiatives. The key function coordinating the efforts above is the Group Technology Office (GTO). Its roles include technology scanning and trend identification, R&D data gathering and analysis and formulating groupwide initiatives leading to new products, technologies and solutions across our global markets. GTO works in close partnership with the Group Engineering Centre (GEC), business area leaders, the Group Strategy & Sustainability Office and ST Engineering Ventures. Externally, the GTO is plugged into the R&D ecosystem, particularly in the geographies we operate in. Environmental Outcomes The Group defines sustainability-related revenue into three broad impact categories: • Reduce GHG Emissions • Solve Urban and City Issues • Circular Economy ENVIRONMENTAL → Green Products & Solutions Much of this is focused on environmental benefits, but there is significant social and governance benefit including safety, security, emergency response, crisis management, worker productivity, health and access to education. Alongside product functionality and cost-effectiveness, the Group considers sustainability to be a key factor in product and process development. We go beyond functional innovation, taking into account ecological considerations such as water and energy consumption, waste streams, circular economy principles and avoid the use of single-use plastic. These considerations are covered in the specification and concept stage of our products and solutions development process. In 2021, the GTO has ramped up its efforts to engage start-ups and ventures in environment technology areas, including in new materials, energy solutions and carbon removal. These are in current ST Engineering domain areas, as well as adjacent to them. We are open to partnerships with companies across the world which could lead to the above three sustainability impact outcomes. Group Technology Office Group Engineering Centre Strategic Technology Centres Research Alliance Future Operations Technology IP & Tech Partnership Digital & Data Management Advanced Technology Ventures Data Analytics Video Analytics Cybersecurity Autonomous Systems of Systems Smart MRO Advanced Technology ITC Group Strategy Learn about examples of our products & solutions under these categories 26 ST ENGINEERING SUSTAINABILITY REPORT 2021 OVERVIEW OUR SUSTAINABILITY APPROACH ENVIRONMENTAL SOCIAL GOVERNANCE AWARDS INDEX
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