125 ANNUAL REPORT 2022 SUSTAINABILITY STATEMENT OUR APPROACH TO STAKEHOLDER ENGAGEMENT CLIENTS Who are they? Parties who pay us for services and goods rendered. Our client profiles vary across business divisions due to the differing natures of these businesses as explained in our business model. Yinson’s value proposition • Professional services as an energy solutions provider. • Timely and high-performance products and services. • Efficient and tailored energy solutions that support clients’ business growth. Stakeholder importance Our clients play a central role in our business success. We continuously seek to understand and meet our client’s expectations in order to deliver products and services that will build brand loyalty in the long run. Frequency and methods of engagement • Daily: Scheduled reports, Yinson website and social media. • Regularly: One-on-one engagements, communication and dialogue. • Monthly: Milestone meetings and updates. • Based on need: Kick-off meetings, continuous engagement, road shows, site visits, stakeholder engagement events. S2 Key areas of concern & Yinson’s response Operational excellence Industry-leading operational expertise is a Yinson Edge, which differentiates ourselves from our competitors. Our business divisions have strong track records of operational excellence, with Yinson Production demonstrating industry-leading operational and safety performance, Yinson Renewables demonstrating strong and stable energy generation and Regulus Offshore demonstrating good fleet utilisation and safety performances. Contractual obligations are met Project management is the core strength of Yinson, supported by a team of professional and skilled personnel who handles the execution of various projects across our business divisions. Yinson has a good track record of meeting our contractual obligations, including early or on-time delivery for our FPSO assets. CREW Who are they? The personnel who work onboard our FPSOs and OSVs, which include both permanent and contractual workers. Yinson’s value proposition • Stringent HSE programmes to protect the wellbeing of our people. • Inclusive, fair, and equal employment opportunities and work packages. Stakeholder importance We rely on the crew’s skills and performance for ongoing operations and success of our offshore assets. Frequency and methods of engagement • Daily: YNet, on-the-job learning and communication. • Regularly: Crew activities, training and development programmes, SAYFR, management visits, inspections. • Monthly: Shipboard safety meetings. • Quarterly: Group-wide town halls. S3 Key areas of concern & Yinson’s response Operational safety The safety and wellbeing of our crew is our upmost priority onboard as we continue to maintain industry-leading safety performance every year. We have a strong HSE governance framework covering HSE policies, HSE management systems, training programmes, competency models, internal audits, emergency response plans and HSE operationalisation programmes. Fair compensation We have collective bargaining agreements in place for our crew to ensure their rights are respected and they are compensated fairly by undertaking benchmarking activity in the markets in which we operate. Fair treatment in accordance with internationally-recognised principles of HLR We have a strong commitment to DEI as reflected in our HLR Policy. We actively implement Group-wide measures to prevent and remedy violations of HLR. We believe that diversity is our strength and it helps us to excel on a global playing field.
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