MESSAGE FROM GROUP PRESIDENT & CEO Dear shareholders, ST Engineering is committed to sustainability. 2021 has been an eventful year for our sustainability journey, as we stepped up to decarbonise and better organise ourselves for sustainability across the Group. Our efforts include: • Setting a target to halve our absolute greenhouse gas (GHG) emissions by 2030 compared to 2010, as we continue our journey alongside global efforts towards net zero; • Integrating sustainability considerations into our latest five-year business plans; • Launching Group-wide Eco-Initiatives to further increase eco-consciousness in our workplaces and align our work habits and culture; • Being accepted as a signatory of the UN Global Compact (UNGC) and committing to its 10 principles in the areas of Human Rights, Labour, Environment and Anti-Corruption; • Launching a new innovation platform - In.Vent - as a pathway for the Group to build new ventures, with a strong emphasis on business and sustainability impact; and • Incorporating Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) reporting elements in our Sustainability Report. OUR APPROACH We aim to positively impact people’s lives and the health of our planet by being a responsible global citizen. We do this by harnessing technology and innovation to address real-world problems. We also incorporate ESG practices into our businesses globally. DOING OUR PART We continue to reduce our impact on the environment, bring value to our people and maintain a high standard of governance practices. These actions build trust and credibility with our wide range of stakeholders. We increased the number of buildings with solar photovoltaic (PV) systems to 39 in our Singapore operations. In the spirit of the circular economy, we provided over 1,000 decommissioned laptops to be refurbished for school children from families in need, to help in their home-based education. We contributed $2.8m in our philanthropic efforts and community investments. This is to encourage volunteerism among our employees and positively impact our communities. We significantly enhanced our policies for export control and intermediaries and strengthened our governance processes and disclosures. ENABLING OUR CUSTOMERS We are committed to enabling a sustainable world through our products and solutions. Our aerospace products and conversion solutions significantly extend the life of aircraft. Our first floating power plant enables a reduction in emissions. Our suite of Smart City solutions helps cities reduce energy consumption and traffic congestion. A PURPOSE-DRIVEN GROUP ST Engineering will continue to harness technology and innovation to enable a more secure and sustainable world. Our focus is on long-term resilience and sustainable value creation for all our stakeholders – customers, employees, communities, shareholders, regulators and suppliers. Sincerely, → VINCENT CHONG Group President & CEO 28 February 2022 03 ST ENGINEERING SUSTAINABILITY REPORT 2021 OVERVIEW OUR SUSTAINABILITY APPROACH ENVIRONMENTAL SOCIAL GOVERNANCE AWARDS INDEX
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