Keppel Corporation debuted on the Global 100 Most Sustainable Corporations in the World 2016, a list of the world’s most sustainable corporations, ranking at the top of the Industrial Conglomerates category and 55th worldwide.
The results were announced on Thursday during the World Economic Forum in Davos, Switzerland, by Corporate Knights, a Toronto-based media and investment advisory company. The Global 100, in its 12th year, is recognised worldwide as the gold standard in corporate sustainability analysis.
Publicly-listed companies with a market capitalisation of at least US$2 billion - numbering 4,353 - were considered in the 2016 Global 100 assessment. Companies were then evaluated across 12 key performance indicators that measure the management of resources, employees and finances.
Mr Loh Chin Hua, CEO of Keppel Corporation, shared, “Keppel’s inclusion in the Global 100, alongside established global firms leading the field in sustainability, is recognition of our commitment to high environmental, social and governance standards. As a conglomerate operating in over 30 countries, we place sustainability at the heart of our corporate strategy and operations, so as to create enduring value for all our stakeholders - sustaining growth, empowering lives and nurturing communities.”
Mr Toby Heaps, CEO of Corporate Knights, remarked, “Keppel Corporation’s debut at 55th on the Global 100 is a commendable achievement. The presence of Asian firms on the Global 100 has grown significantly since the index was first launched in 2005. This is a trend that is set to continue as the region develops and sustainability issues gain prominence on companies’ agendas.”
To communicate its sustainability strategy, practices and performance, Keppel Corporation produces an annual Sustainability Report in accordance with Global Reporting Initiative guidelines and Singapore Exchange’s Guide to Sustainability Reporting for Listed Companies. In its latest Report covering performance in 2014, the Company shared that it had implemented new energy-saving initiatives which were expected to save 530,983 GJ of energy, enough to power over 380,000 HDB 4-room flats for a month. The Company had also invested $14.2 million in the training and development of its employees globally, as well as $5.88 million in social causes.
Keppel Corporation is also listed as an index component of the Dow Jones Sustainability Indices (DJSI) Asia Pacific Index, the MSCI Global Sustainability Index and the Euronext Vigeo World 120 Index. The Company recently won the Singapore Sustainable Business Awards for Strategy and Sustainability Management.
The DJSI Asia Pacific Index tracks the performance of the top 20% of the 600 largest Asia Pacific companies that lead the field in sustainability, while the MSCI Global Sustainability Index targets the highest ESG-rated (environmental, social and governance) companies making up 50% of the adjusted market capitalisation in each sector of the underlying index.
The Euronext Vigeo World 120 Index is composed of the 120 highest-ranking listed companies globally in terms of performance in corporate responsibility, and is developed by Euronext, the primary exchange in the Eurozone, and Vigeo, a leading European agency in Corporate Social Responsibility ratings. The Singapore Sustainable Business Awards is organised by Global Initiatives in partnership with international advisory firm PwC.
Keppel Corporation’s Sustainability Report is validated in accordance with the DNV GL Protocol for Verification of Sustainability Reporting, which draw on AccountAbility’s AA1000 Assurance Standard 2008 and the International Standard on Assurance Engagements 3000 by the International Federation of Accountants.
The systems and processes that support the Company’s sustainability framework are in adherence to AccountAbility’s AA1000 Principles of Inclusivity, Materiality and Responsiveness.
Key business units are certified to ISO 9001, ISO 14001 and OHSAS 18001 or equivalent standards, demonstrating commitment towards product quality, environmental protection and occupational health and safety respectively.