ECONOMIC ENVIRONMENTAL Why it is Material Economic Performance & Productivity We are committed to delivering a sustainable and balanced triple bottom line of “People, Planet, Profit”. Inclusive growth and productive value creation for our stakeholders are key to our long-term viability. Technology & Innovation We improve lives and make the world more secure and sustainable through technology and innovation. Our ability to harness disruptive technology and to direct our engineering expertise towards building innovative products and solutions allows new business growth and differentiates us from our competitors. Responsible & Resilient Supply Chain We depend on a resilient and sustainable supply of goods and services to meet our business needs. We are committed to managing our suppliers ethically and working with them to ensure a responsible and resilient supply chain. Environmental Protection Climate change is an issue of urgency and importance. A low carbon business strategy is not only good for the environment, but also enables us to better respond to climate change related regulations and price volatilities of hydrocarbon resources. Sustainable Quality Products & Solutions Customers rely on us to meet their operational needs. Our products must be compliant with all relevant regulations and be safe to produce, operate and maintain. It must also be reliable over the product’s lifecycle. In addition, our services must meet our customers’ requirements and be delivered at the promised quality and within the committed turnaround time. Cities and organisations around the world are looking to minimise their carbon footprint while reducing operating costs. How we Manage It Our strategic planning community reviews the Group’s strategy in the context of global trends and developments. We focus on operational excellence to ensure that we continue to add value to our stakeholders and have a positive impact on our communities. Productivity efforts are coordinated by the Group Continuous Improvement Office. We manage technology and innovation at the highest levels, drive and coordinate efforts across our businesses, and embed it into our culture. The Group Technology Office (GTO) and Group Engineering Centre (GEC) identifies, develops, and leverages common competencies to increase our development strategy, speed and quality. The Innovation and Technology Committee (ITC) provides guidance and support to leaders of each business area. Our procurement community champions the effective management of our suppliers to align business behaviours, drive greater efficiencies, streamline processes and build greater resilience. We work with our suppliers to embed responsible procurement principles into our processes. Environmental efforts are coordinated by OEST - Environment. All our material business units in Singapore are certified to ISO 14001 Environmental Management Systems. Our global operations abide by relevant environmental regulations and requirements. Our quality efforts are coordinated by OEST - Quality. The majority of our operations are certified to ISO 9001 Quality Management Systems or the equivalent. We design, manufacture and service our products in accordance with industry standards and meet all regulatory requirements. Sustainability and green considerations are incorporated into our products as well as in production processes and lifecycle support. We actively work with our suppliers and collaborators and regularly seek feedback from our customers. UN SDGs OUR MATERIAL FACTORS OUR SUSTAINABILITY APPROACH 16 ST ENGINEERING SUSTAINABILITY REPORT 2022
RkJQdWJsaXNoZXIy NjMyNDM=