The Board of Directors oversees the management, including the review of material environmental, social and governance (ESG) factors for
ST Engineering and takes them into consideration when setting the Group’s strategic direction.
We remain steadfast in positively impacting people’s lives and the health of our planet by operating responsibly in our communities and the wider global ecosystem. We create value by addressing real-world problems, including those related to climate change, urbanisation, pandemics, public safety and evolving security challenges. We harness technology and innovation to enable a more secure and sustainable world.
In the medium term, we will focus on our decarbonisation pathways, and the opportunities and risks from climate change. We link a range of operational, financial and non-financial key performance indicators to our material ESG factors to encourage the adoption of strategies and practices that are aligned to the sustainable and long-term success of the Group.
ST Engineering believes that creating value for our stakeholders in a sustainable manner is essential to the Group’s success. Our business processes reflect long-term and multi-stakeholder considerations, balancing our customers’ needs today with what the world needs tomorrow.
We believe in doing well while doing good, and adopt a two-pronged approach of doing our part and enabling our customers. This includes offering products and solutions that enable our customers to operate sustainably while conducting our business ethically and responsibly.
In assessing materiality, ST Engineering considers factors that impact our businesses and our stakeholders, from both the financial and non-financial perspectives. Our key stakeholders include customers, employees and other workers, local communities, suppliers and collaborators, shareholders and investors, and regulators and governments.
ST Engineering recognises the impact of climate change. We support the efforts to address it both globally and locally where we operate. We target to halve our absolute greenhouse gas emissions by 2030 compared to 2010. We joined the Singapore Low Carbon Network as an inaugural member in 2021.
We agree that the recommendations of TCFD are useful for our stakeholders and have adopted their framework, developing mitigation plans and defining strategic opportunities related to climate.
We are committed to conducting our business in a responsible manner and comply with all applicable law and regulations including export control, data privacy, trade sanctions and embargoes.
We do not tolerate fraud, bribery, corruption and misconduct in all our business units globally and throughout our supply chain. We are determined to foster and maintain an environment where anyone can report any wrongdoing, in good faith, without the fear of retaliation.
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.
Vincent Chong, Group President & CEO
The Sustainability Report 2022 is available now.
This Report is approved by the Board and prepared in accordance with Global Reporting Index (GRI) Standards: Core Option, Singapore Exchange Securities Trading Limited Listing Rules 711A, 711B and Practice Note 7.6, recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB), Standards (Aerospace & Defence).