Sustainability - Framework and Governance

Framework

Responsible Global Citizen

We do our part by nurturing an ecosystem that promotes the continuous growth of our business and supports inclusive development. We do this through:

Conducting our business in a responsible and ethical manner
Complying with all legal and regulatory requirements
Using resources efficiently
Contributing to the communities that we operate in
Broadening our diversity initiatives and developing our people.

Enabler of a Sustainable World

We strive to enable our customers on their journey by offering products and solutions that will help them grow and operate sustainably. We do this through:

Harnessing technology and innovation to address real-world problems.
Our sustainability-linked products and services, which incorporate green technologies and climate related design considerations.
Integrating sustainability into our strategy and operations, ensuring that our business remains resilient amid an uncertain and volatile world.

Governance Structure

We believe that success is built on a culture of sustainability in the organisation. Our culture of sustainability is dependent on a strong, committed and accountable leadership, with the support of every employee.

Board of Directors	The Board holds ultimate accountability, provides strategic direction and considers sustainability issues, including the management of material ESG factors, in the formulation of the Group’s strategies and policies.
Risk and Sustainability Committee (RSC)	The RSC sets direction and provides oversight on risks, internal controls and sustainability matters. Our annual risk and sustainability work plans are also reviewed and approved by RSC.
Group EXCO and Group Senior Business Council (GSBC)	The Group President & CEO (P&CEO), supported by the Group Executive Committee (EXCO), is accountable to the Board for the implementation of these strategies and directions. The Group Chief Strategy & Sustainability Officer ensures that sustainability is a core part of our business strategy, and that ESG considerations are integrated into our business strategies and plans.
Business Area and Group Functions	Sustainability is the responsibility of ST Engineering employees at every level. Our Business Areas’ management teams and Group Functions play critical roles in shaping and executing our strategy. They work across the Group in key areas such as Technology and Innovation, Operational Excellence and Sustainability. They are enabled by an annual planning process which is underpinned by our strategic and financial planning processes as well as our governance and ERM systems.

Commitment

We are committed to conducting our business in a responsible manner.
As a Group, we are committed to:

Zero tolerance for fraud and corrupt practices
Protecting human rights and adhering to all labour laws and regulations where we operate
Maintaining zero tolerance for unethical labour practices such as child labour, forced labour, slavery and human trafficking in any of our operations
Prohibiting discrimination and harassment at our workplaces
Not designing, producing or selling antipersonnel mines, cluster munitions and white phosphorous munitions or any of their related key components
Complying with all Export Control Regimes governing the export of Controlled items in all jurisdictions that we operate in

Performance Measurement

We measure a range of financial, non-financial and operational Key Performance Indicators (KPIs). These have a significant impact on the resilience and sustained performance of our Group’s businesses globally, whether in the short, medium or long-term. Our KPI areas include those indicated in the table below.

Our Senior Management’s remuneration is linked to the achievement of annual performance targets, including material risks and sustainability performance.

MEASURING PERFORMANCE

Framework and Governance

Framework

Governance Structure

Commitment

Performance Measurement

You may also be interested in

Our Material Factors

Materiality Assessment

Climate Change

Key Risks

Subscribe to our newsletter