Building our business and a better tomorrow
Climate change is a global agenda. According to the UN Intergovernmental Panel on Climate Change, we need to limit the global temperature increase to below 2°C and pursue efforts to cap the increase to within 1.5°C to avoid catastrophic consequences to natural and human systems. At Yinson, we aspire to be part of the solution towards solving the global climate issue.
Climate action is the centrepiece of our Group strategy development and it is closely integrated and operationalised throughout our Business Divisions.
With due consideration to the urgency of the current climate situation, we aim to take thoughtful and measured steps towards achieving the following goals:
Measure and verify our greenhouse gas (“GHG”) emissions.
Deploy emission reduction measures where reasonably practicable.
Utilise high-quality offsets to balance residual GHG emissions by 2030.
Focus investments into nature-based and technology-based carbon removal projects.
Actively invest into zero or low-carbon technologies.
Commit business operations in alignment with the Paris Agreement.
Strategies will be further implemented through a three-pronged framework, as follows :
Yinson is determined to do our part in the global movement towards a low-carbon, climate resilient environment. In March 2021, we established our Climate Goals to be carbon neutral by 2030 and net zero by 2050. Our climate targets have been set to be fully consistent with the ambitious goals of the Paris Agreement.
These form part of Yinson's overarching sustainability focus that drives us to contribute as much as possible to strengthen the world's collective foundation for a durable, equitable and sustainable economy. Yinson's Climate Goals Roadmap describes our key pathways towards achieving our Climate Goals.
Yinson is committed to ensure the accuracy and integrity of information and underlying operational processes, to improves the quality of our decision-making processes.
We continue to undertake external verification to a level of reasonable assurance of our equity GHG data and calculation methodology on an annual basis to ensure the integrity of our GHG quantification.
Verification of methodology for carbon footprint and emission for selected Yinson Production AS operations as of ISO 14064-1
Verification of Annual Report 2021 scope 1 GHG emission footprint
Verification of 2022 GHG emission footprint