Yinson Annual Report 2020

121 Annual Report 2020 Governance of our Natural Capitals The management of this capital is the responsibility of Yinson’s highest governance bodies, including our Senior Management. As such, we are committed to improving Group-wide environmental performance. by independent consultancies at the sites in accordance with local environmental assessment regulations as well as international lender environmental and social standards. Stakeholders from local communities are also typically consulted within this process. Further to the report, management plans are then created as follow- ups to eliminate or reduce adverse environmental, social and health impacts where plausible. We have not identified any non-compliance with environmental laws and/or regulations. Further, our management of environment aspects is guided by our internal Emergency Response Plan, which details procedures to effectively identify potential impacts towards the environment for further action. This acts as an additional layer of control on top of our environment management systems. Following the revision of our Sustainability Policy, we have expanded our boundary of environmental aspects to be managed and disclosed. We acknowledge the gaps in our existing reporting mechanisms, and target to improve comprehensiveness of data gathering for our assets and corporate offices moving forward. Implementing robust environmental impact monitoring and controls is one of the goals our sustainability team has set for FYE 2021, in line with the Group’s overall direction towards digitalisation. Working together with our HSEQ team, we aim to digitalise and automate some monitoring processes to ensure that data for key sustainability indicators are accurately captured. Strengthen sustainability governance and reporting (pg 71) Utilise digitalisation tools for HSEQ improvements (pg 78) We seek to minimise our environmental impacts at all levels of our organisation, as reflected by the environmental goals set in our Sustainability Policy. Our strategy for doing so emphasises strict adherence to environmental regulations, such as our continued maintenance of certifications such as ISO 14001:2005 Environmental Management Systems. We also benchmark our processes against industry best practices and strive to improve our monitoring and disclosure-related indicators. Yinson conducts its business activities through an intricate system of management frameworks in all business activities. On top of having our operations certified to the relevant standards, we focus as well on the aspects beyond those that are key to the oil production process. For example, before the initiation of any projects, Environmental Impact Assessments are performed We understand that reporting and monitoring of data indicators is a Group-wide effort, with various departments across our various assets and offices playing their part to diligently ensure accurate data inputs are provided. Thus, we realise the importance of raising awareness amongst employees on the importance of energy management towards achieving Yinson’s sustainability goals. We have planned and initiated several awareness initiatives through our corporate intranet and town hall sessions throughout the year. Data captured within this section pertains to the FPSOs that were in operation for the entirety of the financial year – FPSO JAK and FPSO Adoon. As FPSO Helang began operations in December 2019, we will be disclosing data for this asset in the next review cycle. At present, our focus is on setting our baselines before committing to reduction strategies.