Yinson Annual Report 2020

139 Annual Report 2020 The efforts that we put into creating a happy workforce goes hand in hand with our emphasis on our corporate culture. FYE 2020 has seen a structured and deliberate integration of our corporate culture into daily lives at Yinson, including the measures such as brand awareness campaigns, the launch of our corporate intranet, a restructuring of our appraisal and hiring process to be aligned with our Core Values and the establishment of various communication channels, tools and platforms to encourage openness and transparency. established a new Asset Lifecycle Management (“ALM”) team, which is tasked to identify potential inefficient processes in each stage of our assets’ lifecycles. Data is drawn from several of our key systems into our ALM platform, which via computer- based analysis and modelling, provides objective data-based recommendations for performance, learning and development through all phases of an asset. Human Capital (pg 84) Corporate Social Responsibility (pg 110) Company culture and communication (pg 82) Building up our people is another key focus of ours as having an engaged and experienced workforce – and retaining them – is essential to us achieving our goals. We frame the investment that we put into our people by six priority areas – recruitment and retention, adding value through work life balance, localisation, leveraging on digital technologies, and health and safety. energy needs, contributing towards a reliable power supply that supports the country’s industries, agriculture, trade and transportation. We believe that these are the building blocks that help people escape poverty and create better lives. With sufficient energy, industries can develop and jobs can be created. In addition to providing the energy that powers the nations, we want to go a step further by getting directly involved in helping the local communities where we operate. We hope that our CSR efforts will be able to build local capacity, encouraging social mobility and empowerment. Renewables – a new focus area Yinson’s commitment to sustainable growth is also demonstrated through our decision to establish a Renewables Division. Our long-term objective is to establish a global business operating renewable energy generation assets, which can also pursue related opportunities in a rapidly growing, and technologically advanced segment of the energy industry. The renewables business is expected to contribute to Yinson’s financial performance, while also enabling diversification of both risk and revenue. It will support achievement of our social and environmental goals with a minimal carbon footprint and ability to provide cheaper energy to remote communities or developing countries. Renewables is now in a period of rapid growth worldwide as the all-in cost of new renewable generation In recent years, Yinson has focused on digitalisation as a strategy to improve business performance and form new, differentiating business capabilities. Business systems and processes (pg 74) Looking to the future It is our vision to be a global energy solution provider that meets the world’s growing demand for energy in a safe, and a socially and environmentally responsible way. Energy is linked to well-being and prosperity around the globe - it supports economic and social progress and builds better quality of life, particularly in developing countries. In Ghana, where FPSO JAK operates, all of the gas produced is channeled back for the country’s