163 ANNUAL REPORT 2022 OUR CAPITALS NATURAL CAPITAL Yinson recognises the importance of Scope 3 emissions and our role in the value chain to reduce emissions on a global scale. Yinson is looking to have close partnerships and regular discussions with our clients to further reduce Scope 3 emissions, especially emissions from downstream leased assets. We are also expanding supplier engagement through our VRP to further understand Scope 3 emissions accounting in our value chain. Compliance of our supply chain & third parties, pg 73; Sustainable supply chain management, pg 157; Client relationships, pg 158 MATERIAL TOPIC: WASTE & POLLUTION MANAGEMENT DEFINITION OF MATERIAL TOPIC Responsible management of materials from acquisition to waste disposal that relate to the achievement of our business goals. IMPACTS GS5 GS6 S2 S3 S4 S7 S8 S9 GS1 GS2 WHY IS THIS TOPIC MATERIAL TO US? Waste and pollution are byproducts of Yinson’s business operations that can have a significant negative impact on our surrounding natural environment and biodiversity if not managed well. Waste and pollutants from our offshore operating assets need to undergo highly specialised handling procedures, due to the specific nature of the waste as a byproduct of oil & gas production; as well as the asset’s position of being out at sea, i.e. with limited access to waste disposal infrastructure on land. Management of waste and pollutants is highly regulated, and needs to be adhered to in order to receive our regulatory license to operate. Managing this material topic well contributes to the creation of natural surroundings that are more conducive to business activities in terms of health and wellbeing, smooth business operations and positive brand recognition. RISKS • Poor waste and pollutant management results in a natural environment that is polluted, causing health & wellbeing issues and loss of biodiversity, with long-term effects on the balance of the natural ecosystem – indirectly impacting business operations. • Poor waste and pollutant management affects brand reputation and performance against ESG indicators, making a company less attractive to skilled talent, investors and other stakeholders. • A company may face penalties or lose its license to operate if found to be in violation of regulatory standards for waste and pollutant management. OPPORTUNITIES • Good waste and pollutant management contributes to healthier natural surroundings and biodiversity, providing a conducive environment for business operations. • Companies which display strong leadership in managing waste and pollutants can enjoy a strong brand reputation, which is attractive to skilled talent, investors and other stakeholders. • Companies that invest in technologies to monitor and manage their waste and pollutants can establish a competitive edge, as well as contribute to industry improvement in this area as a whole. Management approach Waste Management Plan Yinson Production adheres to the International Convention for the Prevention of Pollution from Ships (MARPOL). The requirements set out in Annex V of the protocol aims to eliminate any discharge of garbage from shipboard operations to the environment. This is achieved by creating vessel-specific Garbage Management Plans to ensure a system for garbage management onboard our assets. The waste onboard is segregated into 11 different categories, among those are plastics, food waste, cooking oil, e-waste and fishing gear, hazardous waste from our operations and cargo residues. Yinson continuously strives to keep waste or potential pollutants that we may be emitting from operations at a minimum level. Where unavoidable, we seek to ensure all such discharges are properly handled as per guidance from relevant regulatory and best practice approaches. Data monitoring We cannot manage what we do not measure, hence much focus is placed on ensuring we accurately monitor the waste and pollutants we generate onboard. We monitor and measure waste and pollutants onboard our vessels through our ISO 14001-certified HSE Management System and internal processes detailed within our YMS. Our environmental performance is monitored through dashboards that provide up-to-date, aggregated graphical representations of environmental statistics. MN2
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