101 SUSTAINABILITY REVIEW | BUILDING ENVIRONMENTAL AND CLIMATE RESILIENCE WHY IS THIS TOPIC MATERIAL TO US? Yinson is dedicated to integrating climate action, clean energy, water and waste management into our strategic development and daily operations, aiming to address environmental challenges responsibly. This commitment includes managing waste and pollutants from offshore operations with specialised procedures to minimise environmental impact. Adhering to strict regulations ensures regulatory compliance, operational efficiency and minimal environmental harm. By prioritising environmental responsibility, we contribute to stakeholder well-being, enhance our reputation and ensure our continued operation. As a multinational corporation, Yinson recognises the importance of promoting environmental awareness and responsible stewardship at all levels of the organisation. MANAGEMENT APPROACH Governance of environmental matters Our commitment towards environmental management is guided by the Group’s Sustainability Policy with oversight from the Board and Management in governing sustainability matters. In January 2024, we integrated our Sustainability Committee into our Management Committee, which is now renamed the Management & Sustainability Committee (“MSC”). This further institutionalises and reinforces the management and oversight of sustainability at the management level, augmenting our agility to react to any emerging sustainability-related risks. ME4 ENVIRONMENTAL MANAGEMENT Responsible management of materials, encompassing their acquisition, disposal and effective measures to address waste, water, effluent and air pollution. Concerned stakeholders S2 S3 S6 S7 S9 S8 S10 Risks • Adopting novel environmentally-friendly technologies may increase the cost and reduce the profit of businesses in the near term, bringing financial risk if not planned accordingly. • Poor management of environmental issues poses financial and reputational risks. • Pollution of the natural environment causes health and well-being issues and biodiversity loss. • Poor management may incur penalties and loss of license to operate. Opportunities • Meeting and exceeding environmental regulations enhances Yinson’s brand value. • Healthier natural surroundings are conducive to business operations. • Strong environmental performance is attractive to skilled talents and investors. • Companies that manage environmental performance well have a better competitive edge and industry leadership position. The Corporate Sustainability Department and the ESG Taskforce drive our initiatives in relation to environmental management. The ESG Taskforce consists of representatives from key businesses, making it a holistic corporate effort that ensures all operations adhere to the principles of our Sustainability Policy. Furthermore, we establish strong partnerships with pertinent stakeholders, including regulatory bodies, NGOs and governments to ensure we comply with all environmental and disclosure requirements. Waste and pollutants Waste Management Plan Yinson Production and Regulus Offshore have a thorough waste management structure, compliant with the International Convention for the Prevention of Pollution from Ships (“MARPOL”). To ensure compliance, we have vesselspecific Waste Management Plans in place that enable us to effectively handle waste on board our assets. We collaborate with licensed waste disposal companies to manage waste generated on board for recycling, treatment, recovery (where possible) or disposal, ensuring responsible handling and disposal. On one of our vessels, waste is safely incinerated on board using approved shipboard incinerators. Food waste on board all our vessels is discharged into the sea in accordance with MARPOL’s Annex V guidelines. We minimise our waste generation, and in situations where it is unavoidable, we make sure that proper management practices are followed in compliance with relevant regulations and industry best practices. Sustainability governance, pg 19.
RkJQdWJsaXNoZXIy NDgzMzc=