158 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 S8 LOCAL COMMUNITIES YINSON’S VALUE PROPOSITION • Sustainable operations driven by safety and environmental excellence. • Socio-economic contributions for social and community developments. • Energy security. STAKEHOLDER IMPORTANCE • As a responsible corporate citizen, it is vital to understand our host communities’ concerns to cultivate long-term and mutual trust. FREQUENCY AND METHODS OF ENGAGEMENT • Daily: Yinson website and social media. • Regularly: CSR activities, engagement with local vendors, local trainee programmes, press releases, and community development programmes. KEY AREAS OF CONCERN MG4 MS1 MS4 MG3 ME1 ME3 ME4 OVERVIEW OF YINSON’S RESPONSE • Strong culture of compliance. • Extensive compliance programmes and training on topics such as COBE, ABAC, Whistleblowing and Sanctions. • Group Strategic IT Roadmap maps out digitalisation initiatives, executed through seven core IT Group functions. • Integrated Health, Safety, Security, Environment and Quality (“HSSEQ”) Management system which adheres to ISM Code, ISPS Code and complies with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, benchmarked to IOGP. • Strong global HR team that champions a comprehensive HR strategy. • ISO 9001 qualified VRP, which is integrated with our Supply Chain Policy. • Cross functional collaboration between all departments to enable procurement teams to have a holistic view of the market and industry. • Robust Biodiversity Policy which drives the implementation of biodiversity projects in all our areas of operation. • Strict adherence to all relevant environmental management standards. • All employees are encouraged to champion ESG projects and operationalise ESG in their daily work. S9 EQUITY PARTNERS YINSON’S VALUE PROPOSITION • Knowledge, expertise, and experience in the delivery of responsible energy solutions. • Disciplined business and financial management. • Collaborative, innovative, and tailored solutions to capitalise on market growth. STAKEHOLDER IMPORTANCE • Long-term strategic partnerships to leverage each other’s unique strengths for sustainable growth and continuous value creation. FREQUENCY AND METHODS OF ENGAGEMENT • Daily: Regular engagement, communication, and dialogue. • Regularly: Site visits, stakeholder engagement events, collaboration on announcements, and press releases. KEY AREAS OF CONCERN MS1 MS2 MS3 MG3 ME4 MG1 ME2 OVERVIEW OF YINSON’S RESPONSE • Adoption of technologies and processes to streamline operations to ensure they use available resources efficiently. • Strong business teams to enable agile and prudent decision-making to ensure efficient use of resources. • Climate Goals to be carbon neutral by 2030 and net zero by 2050, with strategies and targets outlined in our Climate Goals Roadmap. • Significant effort into measuring and monitoring our impact and performance in terms of carbon accounting and GHG emissions. • Support our stakeholders in meeting their own climate targets. • Our businesses work together to address the energy trilemma to ensure a sustainable future for all. These are the communities in the local areas where we operate. These are Yinson’s business partners who own equity in our assets, projects, and platforms.
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