Keppel embraces sustainability not only as a guiding principle, but on strategic and operational levels. As a multi-business company, the Keppel Group harnesses the strengths of its businesses in Offshore & Marine, Property, Infrastructure and Investments to provide solutions for sustainable urbanisation.
Solutions for Sustainable Urbanisation
Engines of economic growth, particularly in Asia, continue to be powered by urbanisation. This process of urbanisation has created demand for clean energy, high quality homes and offices, clean urban environments, good infrastructure and connectivity—areas where Keppel has strong core competencies and can make a decisive impact. Keppel’s Offshore & Marine division is strengthening its capabilities to meet the growing global demand for Liquefied Natural Gas, a clean-burning, low-carbon fuel. The Property Division is committed to create live-work-play environments of enduring value for the community and is recognised for developing high quality green homes and offices, while Keppel’s Infrastructure Division has a robust portfolio of sustainable infrastructure which includes high-quality townships, Waste-to-Energy plants, a water treatment plant, district cooling systems and green data centres.
Keppel’s Sustainability Framework
Keppel’s Sustainability Framework articulates the company’s commitment to deliver value to all stakeholders through Sustaining Growth in its business, Empowering Lives of people, and Nurturing communities wherever the company operates. The Framework guides the company’s investments in host countries and local communities. The Framework is supported by management systems, policies and guidelines, including an Employee Code of Conduct, Health, Safety and Environment Policy and Supplier Code of Conduct, which translate corporate principles into practice by setting standards for both for the company and those whom it works with.
The commitment to responsible business is anchored at the highest levels of Keppel Corporation. The Group Sustainability Steering Committee provides guidance on strategic and operational issues. The committee is chaired by Keppel Corporation CEO Loh Chin Hua and comprises senior management from across the Group. The Working Committee, consisting of 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 environmental, social and governance (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 Global Reporting Initiative (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 the company’s businesses. The resulting Keppel Corporation Materiality Matrix illustrates the relative importance of the issues.
Close collaboration with stakeholders supports Keppel in addressing its sustainability challenges. The company continually engages with, listens to and learns from its stakeholders. Stakeholder relations, including engagement with customers, employees, investors, media, government agencies and communities, are managed by departments at the corporate level, as well as by functional divisions and volunteer committees across business units worldwide. Keppel also engages with stakeholders on broader issues through memberships and support of multi-stakeholder initiatives such as 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 & Health Council to build industry capabilities to better manage safety and health at work.
Best Practice Reporting
Keppel Corporation is part of the widely respected Dow Jones Sustainability Index. The company is listed on a number of other sustainability indexes and rankings, including CDP (formerly Carbon Disclosure Project), MSCI Global Sustainability Index, Euronext Vigeo Eiris Index – World 120 and all four sustainability indices launched by the Singapore Exchange in 2016. The company’s sustainability reports draw on internationally-recognised standards of reporting, including the GRI. The reports are published annually and are externally assured in adherence to the AccountAbility AA1000 Assurance Standard (2008).