Yinson recorded a significant improvement in the ESG Risk Rating by Sustainalytics, placing the Group in the top 1st percentile of both the energy services industry and the Oil and Gas Equipment subindustry as of November 2022. The Group was also ranked in the top 17th percentile in the Global Universe.
The Group marked a 4.4-point improvement to achieve an overall ESG Risk Rating of 17.4, placing the Group under the ‘Low-Risk’ category. Sustainalytics rated medium and strong for Yinson’s ESG Risk Exposure and overall ESG Risk Management, respectively. The exposure score measures the extent of exposure of material ESG issues to a company and takes into consideration the subindustry and company-specific factors; whereas the management score assesses the robustness of a company’s ESG programmes, practices, and policies. Sustainalytics concluded that Yinson’s overall ESG-related disclosure follows best practices, demonstrating the Group’s strong accountability to investors and the public.
Yinson’s Core Value of sustainability guides Yinson’s decision-making at every level, including daily activities and operations. Some notable achievements for the Group over the last year include our Human Capital Management, environment-focused and emissions reduction initiatives. The ability to attract and retain employees with the skillsets required for Yinson’s diverse activities is crucial. The Group run several initiatives globally to attract talents to join us, whilst engaging and developing its existing talent pool, with regular training, performance reviews and periodic employee surveys. Our commitment to Diversity, Equality & Inclusion (“DEI”) is also a key focus area of our HR Transformation Plan. In the past year, efforts have been made to provide Yinsonites with an open and all-inclusive working environment.
With countries implementing measures to reduce the use of fossil fuels and adopting carbon regulation, Yinson recognises the importance of our environmental performance to our long-term success. Yinson remains proactive in the energy transition conversation, with the Group supporting the TCFD Framework and publishing our first TCFD-aligned Climate Report in 2021. Over the past year, we are making progress in integrating climate considerations into Yinson’s Enterprise Risk Management framework and improving our GHG emission accounting. Yinson continues to look for avenues to improve and close gaps in our ESG reporting as we strive to further add value to our stakeholders.
Yinson Group Chief Executive Officer Lim Chern Yuan commented, “As a global energy solutions provider, providing access to sustainable energy and our associated environmental, societal and economic impact has always been a matter close to our hearts. Achieving the recognition of 1st percentile ranking in the Sustainalytics ESG Risk Ratings is a huge milestone for Yinson. This achievement inspires us to continuously be driven by a firm sustainability mindset, to create sustainable value for all our stakeholders. It also strengthens our resolve to be an industry leader in the global fight against climate change. My sincerest gratitude to the collective efforts of all Yinsonites, business partners and clients in realising this important rating.”
For more information about Sustainalytics, please visit: https://www.sustainalytics.com/.
[UPDATE AS AT 6 DECEMBER 2022] Yinson achieved an overall ESG Risk Rating of 17.4 as rated by Sustainalytics, after Yinson’s annual rating cycle on November 2022. The group was ranked 2nd percentile in both the Energy Services industry and the Oil and Gas Equipment subindustry, as of December 2022, after the rating conclusion of our peers.
