105 SUSTAINABILITY REVIEW | EMPOWERING PEOPLE AND COMMUNITIES EMPOWERING PEOPLE AND COMMUNITIES MS1 OCCUPATIONAL HEALTH & SAFETY Provision of secure working conditions and systems to safeguard human health and well-being in all operations. Concerned stakeholders S2 S3 S6 S4 S8 S5 S9 S10 Risks • Impact on employee health and well-being, potentially resulting in the most severe consequence: loss of life. • Potential damage to assets, time loss, and financial impacts such as costs for workforce recovery or asset repair. • Reputational damage. • Excessive focus on this material topic may result in rapidly diminishing marginal benefits. Opportunities • A strong OHS record is a key differentiator in the FPSO business, leading to reduced downtime – and thus better reliability of our assets and people-related processes. • Received favourably by current and potential financial stakeholders. • Leveraging technological innovations such as realtime data reporting and AI predictability may yield further improvements in OHS performance. WHY IS THIS TOPIC MATERIAL TO US? Occupational Health and Safety (“OHS”) is paramount to our organisation. In our commitment to ensuring the safety of our employees and crew, we strive to comply with laws and regulations to boost employee well-being and morale, mitigate risks and enhance our reputation. To demonstrate our commitment to sustainability, we invest in OHS management, operational efficiency and employee engagement, ultimately driving organisational success and growth. We are driven by a commitment to prevent fatalities and accidents by optimising our safety performance and embedding a culture of safety to minimise risks to our business, including regulatory non-compliance, operational disruptions, damaged assets and reputational harm. MANAGEMENT APPROACH Upholding strong HSE governance Yinson has an Integrated Health, Safety, Security, Environment and Quality (“HSSEQ”) Management System. This system includes protocols for identifying, analysing, evaluating and governing requirements aligned with industry standards. It also ensures compliance with the International Safety Management (“ISM”) Code, International Ship and Port Security (“ISPS”) Code and ISO certifications such as ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018. Our Integrated HSSEQ Management System covers our offshore and onshore employees and contractors. We remain guided by our Health & Safety Policy, which ensures that we comply with the highest standards in Health, Safety and Environment (“HSE”). This includes protecting the health and safety of all personnel within our operations and minimising the environmental impacts of our activities. Aligning our performance with global benchmarks To assess our HSSEQ performance against international standards, Yinson has adopted safety performance indicators established by International Association of Oil & Gas Producers (“IOGP”). This association serves as the primary source of safety performance data in the global exploration and production sector, covering both onshore and offshore operations worldwide. IOGP’s extensive database includes member companies and contractors, encompassing 52 entities across 92 countries. Yinson’s HSSEQ performance for FYE 2024 surpassed industry benchmarks, whether in terms of LTIF, TRIF, or Injury Severity Rates (Average Lost Workcase Days per event and Average Restricted Workcase Days per event). Additionally, there were no major non-conformities in ISM or ISO standards for the year ending 2024. However, our strong performance has not made us complacent. We continued to implement safety initiatives during the year to prevent complacency and strengthen our commitment to continuous improvement and optimisation. Occupational Health and Safety performance, pg 362.
RkJQdWJsaXNoZXIy NDgzMzc=