Yinson Annual Report 2018

Sustainability Statement Stewardship Yinson Holdings Berhad and its group of companies is a leading and trusted partner in energy solutions for the global oil and gas industry. We are committed to enhance long-term shareholder value with due regard to the economic, social and environmental responsibility to our stakeholders. These stakeholders include our shareholders, employees, clients, business partners, regulatory bodies, local communities as well as the natural environment. Our immediate and short-term objectives are very clear, i.e. to optimise our operations and maximise equitable returns to our shareholders. The earlier sections of this report, together with the financial pages, account for our operational activities during FYE2018 and provide a snapshot of where we are today from the financial perspective. This section provides summary information on our sustainability practices based on Economic, Environmental and Social considerations in line with Bursa Malaysia Sustainability Guidelines. OUR APPROACH Our economic, social and environmental responsibility forms the foundation on which we have formulated our sustainability strategy, and the basis on which we move forward. The strategy was developed based on the Global Reporting Initiative (“GRI”) guidelines, where we identified five material aspects in which we have the skills, experience and financial ability to make a meaningful and valuable difference. A key component of our sustainability journey is the process from which we strategised and identified the plan required to achieve our sustainability objectives. Areas of responsibility and reporting processes were also identified to ensure full accountability and transparency. A three-year plan was launched in August 2016withprocesses inplace to ensure that we focus on and account for sustainable practices in each area of our day-to-day operations. These processes include: I. Information collection and analysis II. Identifying relevant activities for implementation III. Activity reports IV. Integration of sustainable practices into business processes V. Review and evaluation of the sustainability strategy At the end of the three-year period (2019), we will review the current sustainability strategy and hold further engagements with our stakeholders to add or replace objectives in areas where targets have been met. A new sustainability strategy will also be planned at that point. BOARD OF DIRECTORS The Board is ultimately responsible for the sustainability performance of the company SECTION/DIVISION HEADS IMPLEMENTATION DATA COLLECTION & REPORTING CORE GROUP The core group comprises of leaders from across the business and is responsible for systematically integrating our sustainability strategy into business processes, managing the data/information hub and monitoring results of our integration efforts. The group reports to the sustainability committee on the progress together with recommendations for improvements. SUSTAINABILITY COMMITTEE The sustainability committee is appointed by the Board and is made up of members of the senior management team. It is responsible for the company’s sustainability strategy. The committee periodically reviews the company’s sustainability performance based on the reports from the core group. Where necessary, external stakeholders will be consulted for changes to the strategy to be made. This is then tabled to the Board for approval. 50 Yinson Holdings Berhad Annual Report 2018