Sustainability
Board Statement on Sustainability
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.
Our Sustainability Approach
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.
Materiality Assessment
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.
Climate Change
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.
"ST Engineering remains committed to sustainability, whether in our own operations, or through enabling our customers and other stakeholders. We seek to leverage our diverse capabilities and partner with innovative firms and institutions to deepen our expertise and broaden our offering of technologies, as we pursue greater sustainability in our businesses and operations globally."
Vincent Chong, Group President & CEO
The Sustainability Report 2023 is available now.Â
"This Report is approved by the Board and prepared in accordance with Global Reporting Initiative (GRI) Standards, Singapore Exchange Limited (SGX) Listing Rules 711A, 711B and Practice Note 7.6, Sustainability Accounting Standards Board (SASB) Standards – Aerospace and Defence, and references the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)."
