Our Sustainability Framework articulates our commitment to deliver value to all our stakeholders through Sustaining Growth in our businesses, Empowering Lives of people and Nurturing Communities wherever we operate.
Our management systems, policies and guidelines, including our Employee Code of Conduct; Health, Safety and Environment Policy, and Supplier Code of Conduct, translate our principles into practice by setting standards both for our Company and those whom we work with.
We publish sustainability reports annually, and the next report will be published in May 2018. Our sustainability reports draw on internationally‑recognised standards of reporting, including the Global Reporting Initiative (GRI), and are externally assured in adherence to the AccountAbility AA1000 Assurance Standard (2008). Since 2017, our report has been brought in line with the new sustainability reporting requirements by the Singapore Exchange.
This section contains a summary of our approach on sustainability issues that are most material to our business and stakeholders.
Sustainability issues are managed and communicated at all levels of the Group. The Keppel Corporation Board and management regularly review as well as oversee the management and monitoring of the material Environmental, Social and Governance (ESG) factors of the Company, and take them into consideration in the determination of the Company's strategic direction and policies.
The Group Sustainability Steering Committee, chaired by Keppel Corporation's CEO Loh Chin Hua and comprising senior management from across the Group, provides guidance on the Group’s sustainability strategy while the Working Committee, comprising discipline‑specific working groups, executes and reports on the Group’s efforts.
A robust process was undertaken to identify and prioritise the Company’s material ESG issues. The assessments were based on the foundational principles of inclusivity and materiality outlined in the AccountAbility AA1000 Principles Standard (2008) as well as the GRI Principles for Defining Report Content – stakeholder inclusiveness, sustainability context, materiality and completeness.
The process was supported by an independent consultant and involved stakeholder consultations, workshops for senior management, an assessment of long‑term global trends and an internal review of our businesses. The key material ESG issues for Keppel Corporation were reviewed by the Steering and Working Committees in 2017 and deemed to remain relevant.
Collaboration with stakeholders supports us in addressing sustainability challenges. We promote ongoing communication and active engagement with our stakeholders.
Stakeholder relations, including engagement with customers, employees, investors, media, government agencies and communities where we operate, are managed by departments at the corporate level, as well as by functional divisions and volunteer committees across our business units worldwide.
We also engage with stakeholders on broader issues through our membership and support of multi‑stakeholder initiatives. These include Global Compact Network Singapore to advance the United Nations Global Compact initiative and its 10 principles, Singapore Institute of Directors to uphold high standards of corporate governance, as well as Workplace Safety and Health Council to build industry capabilities to better manage safety and health at work.
Keppel Corporation has been part of the widely respected Dow Jones Sustainability Index for five consecutive years. We participate in the CDP (formerly Carbon Disclosure Project) and are listed on a number of other sustainability indices and rankings, including MSCI Global Sustainability Index, Euronext Vigeo Eiris Index – World 120 and all four sustainability indices launched by the Singapore Exchange in 2016.
Keppel Corporation was conferred the Best Workforce award and received Special Recognition for Strategy and Sustainability Management at the Sustainable Business Awards 2017. The Awards, organised by Global Initiatives in partnership with PwC Singapore, recognise businesses with sustainable business practices.
Keppel Corporation was also awarded Winner of the inaugural Sustainability Award at the Securities Investors Association (Singapore) 18th Investors' Choice Awards. The Award honours companies with a strong commitment towards corporate responsibility.