Stepping forward with confidence into a sustainable future

Yinson has embarked on an ambitious journey that puts sustainability considerations at the core of all our decision-making. This has required us to step out into the unknown to pioneer, innovate and forge new partnerships toward achieving our targets.

  • Key corporate sustainability milestones achieved

  • Sept 2018

    Sustainability set as a Core Value
  • Feb 2020

    RM200 million Sustainability-Linked Financing provided from HSBC Amanah Malaysia
  • May 2021

    Announced Climate Goals to be carbon neutral by 2030 and net zero by 2050
  • Jun 2021

    Received A1/stable and A+ stable ratings from RAM and MARC
  • Aug 2021

    Received ESG Risk Rating of 21.7 from Sustainalytics placing us in the top 9th percentile in the Energy Services Industry
  • Aug 2021

    Announced support for TCFD
  • Oct 2021

    Released Climate Goals Roadmap and Sustainability-Linked Financing Framework
  • Dec 2021

    RM1.0 billion raised through Malaysia’s first Sustainability-Linked Sukuk Wakalah Programme
  • Dec 2021

    Released inaugural TCFD-aligned Climate Report

Recent sustainability awards and partnerships

  • CORPORATE SUSTAINABILITY MILESTONES

    RM200 million revolving credit facility through Malaysia’s first Sustainability-Linked Financing

    In February 2020, Yinson collaborated with HSBC Amanah to deploy a market-leading Islamic sustainability-linked financing with a RM200 million revolving credit facility granted to Yinson. This tiered pricing product feature allows Yinson to receive a discounted financing rate of the facility upon meeting pre-agreed targets related to our ESG performance.

    In August 2021, Yinson’s actual performance against the sustainability KPIs were measured and validated based on Yinson’s ESG Risk Rating Report from Sustainalytics. The Group successfully achieved the stretch targets, thus discounted rates were applied to new drawdowns – creating even greater value for our shareholders and stakeholders.

  • CORPORATE SUSTAINABILITY MILESTONES

    RM1.0 billion raised through Malaysia’s first Sustainability-Linked Sukuk Wakalah Programme

    On 25 November 2021, Yinson successfully priced Malaysia’s first Sustainability-Linked Sukuk via the issuance of RM1.0 billion 5-year Sustainability-Linked Sukuk Wakalah pursuant to its Islamic Medium Term Notes Programme of up to RM1 billion in nominal value. The landmark tranche has been assigned a rating of A1 and A+ by RAM and MARC respectively, with a Second Party Opinion on its Sustainability-Linked Financing Framework from ISS ESG. HSBC Amanah acted as the sole Principal Adviser, Lead Arranger, Lead Manager and Shariah Agent for the Sukuk Wakalah Programme and Sustainability-Linked Structuring Agent for the Framework.

    Due to overwhelming demand with orderbook of RM1.66 billion, the offer size was upsized from an initial target of RM700 million to RM1.0 billion. The strong confidence and demand from investors were clearly reflected in the Sukuk Wakalah's oversubscription of 1.66 times, allowing Yinson to tighten the issuance yield to 5.55%.

    A unique feature of the Sukuk Wakalah is the link to Yinson’s Sustainability Performance Targets, which would trigger profit rate step ups across remaining profit payment dates should the targets not be met. Yinson views the deal as both a challenge and a golden opportunity for the Group to demonstrate the serious action we are taking to achieve their climate-related targets.

    • Increase Yinson Group’s renewable energy generation

      2021 baseline 300GWh
      • 2025
        2030
        2050
      • 1,700 GWh
        5,600 GWh
        22,400 GWh
    • Decrease Yinson Group’s carbon intensity per barrel of oil equivalent

      2021 baseline 16.3 kg CO2e/BOE
      • 2025
        2030
        2050
      • 16.2 kg CO2e/BOE
        11.4 kg CO2e/BOE
        8.0 kg CO2e/BOE
    • Decrease Yinson Group’s carbon intensity per MWh

      2021 baseline 279.1 kg CO2e/MWh
      • 2025
        2030
        2050
      • 192.5 kg CO2e/MWh
        136.7 kg CO2e/MWh
        23.0 kg CO2e/MWh
  • CORPORATE SUSTAINABILITY MILESTONES

    Released inaugural TCFD-aligned Climate Report.

    Yinson is pleased to release our inaugural Task Force on Climate-Related Financial Disclosure (TCFD) aligned Climate Report, which provides disclosure on Yinson’s management of climate-related issues as well as risks and opportunities. At Yinson, we recognise climate change as an increasingly urgent issue and are committed to doing our part to strengthen the world’s collective foundation for a durable, equitable and sustainable economy.

    Yinson adopts the TCFD recommendation of conducting climate scenario analysis, which highlights the importance for Yinson to decarbonise our operations and to develop a transition plan to favour integrating low-carbon solutions into our business offerings. This Climate Report represents an important step as we continue to execute our climate strategy and goals to achieve carbon neutrality by 2030 and net-zero by 2050.

OUR JOURNEY TO NET ZERO

Yinson’s Climate Goals:
Carbon Neutral by 2030
Net Zero by 2050

  • CARBON NEUTRAL BY 2030

    • Measure and verify our GHG emissions
    • Deploy emission reduction measures where reasonably practicable
    • Use high quality offsets to balance residual GHG emissions by 2030

    NET ZERO BY 2050

    • Focus on 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
  • Carbon Reduction

    • Reduce GHG emissions from Scope 1, 2 and 3
    • Limit carbon emission intensity of FPSOs
    • Utilise renewable energy in our operations where feasible
  • Carbon Removal

    • Invest into nature-based carbon removal solutions such as afforestation and reforestation
    • Utilise technology-based carbon removal solutions such as Direct Air Capture (“DAC”) and Carbon Capture, Utilisation and Storage (“CCUS”)
  • Carbon Compensation

    • Invest in zero or low-carbon technologies
    • Increase capacity of renewable energy generation

OUR JOURNEY TO NET ZERO

Yinson's Climate Goals Roadmap

The roadmap is designed to be ambitious and yet reflect a realistic business operation case. It provides a forward-looking trajectory of Yinson’s carbon profile up to 2050, highlighting specific action plans that are aligned to international standards and frameworks. The roadmap provides clear pathways toward emission reductions as well as Yinson’s growth into a low-carbon economy.
Carbon dioxide equivalent (‘000 tonnes) 2,000 1,500 1,500 1,000 2020 2025 2030 2035 2040 2045 2050 1,000 500 500 0 Business as usual pathway Reduced emissions pathway Carbon removal only Carbon removal andcompensation pathway Implement closed flaring, hydrocarbon blanketingand combined cycle technology on FPSOsSource office electricity from renewable energy andoffset travel emissionsIncrease renewable energy generation to generateRECs or carbon credits and accelerate transition toclean energy systemImplement green technology innovations to strengthen clean energy ecosystem Launch Zero Emission FPSOsPilot DAC and CCUS technologyBuild inventory for nature-based carbon creditsImplement renewable energy solutions onboard FPSOs Implement DAC and CCUS as mainstream technology toremove our operational carbon emissions Projected Launch points of proposed key measures NET EMISSIONS Increase renewableenergy generationup to 1.7TWh By 2030Carbon neutrality achieved Increase annual renewable energy generationby up to 5.6TWhReduce Group-wide carbon intensity (MWh) by 50%Reduce carbon intensity (BOE) of FPSO operationsby 30% Decreased dependence on carbonoffsets due to: Growth in renewables and greentechnology activitiesIncreasing maturity of carbonremoval technologiesStrengthened clean energy ecosystem By 2050Net zero achieved Increase renewable energy generation to 22.4TWhReduce Group-wide carbon intensity (MWh) by afurther 80%Reduce carbon intensity (BOE) of FPSO operationsby a further 30%

OUR JOURNEY TO NET ZERO

Operationalised by our Divisions

  • The roadmap is operationalised at Group and Division-level. The roadmap leverages on the unique synergies between the Offshore Production, Renewables and Green Technologies divisions to achieve our Climate Goals.

  • GROUP
    • Strong commitment from Board & Senior Management
    • Embedding sustainability into our strategic framework
    • Committed to the highest standards of corporate governance
    • Alignment to global disclosure standards
    • Carbon compensation activities
  • YINSON PRODUCTION
    • Achieve absolute emission reductions from our existing FPSOs
    • Design all new FPSOs with emission-friendly solutions
    • Set emissions as key consideration when evaluating potential projects
    • Implement Zero Emission FPSO concept
  • YINSON RENEWABLES
    • Lower Group-wide carbon intensity through growth in renewable energy generation
    • Business transition pathway to becoming a clean energy provider
  • YINSON GREENTECH
    • Enable Yinson to grow in tandem with a low-carbon economy
    • Support the creation of an ecosystem to support internal and external decarbonisation agendas

OUR JOURNEY TO NET ZERO

Zero Emission FPSO Concept

Around 93% of Yinson’s overall carbon emissions are produced by our Offshore Production Division, therefore significant focus is placed on reducing the emissions of our current and future fleet. Developing and implementing the Zero Emissions FPSO concept is a key way for Yinson to lower our offshore production fleet’s emissions to net zero. Both existing and future technologies have been included in the design.

  • CARBON REMOVAL

    Remove carbon via technologies such as DAC and CCUS

    Up to 90% GHG reductions of power production
  • EMISSIONS-LOWERING TECHNOLOGIES

    Utilise technologies such as hydrocarbon blanketing, closed flaring and vapour recovery units to eliminate routineflaring and venting

    Up to 10% GHG reduction
  • COMBINED CYCLE TECHNOLOGY

    To efficiently capture heat generated in the production process to be used to produce electricity for FPSO operations

    Up to 20% GHG reduction
  • RENEWABLE ENERGY

    Partial / full electrification of FPSO operations by importing renewable energy sourced from onshore and / or nearby offshore infrastructure

    Up to 100% GHG reductions of power production

zero emission fpso technologies

Embracing The Energy Transition

We believe that there is a major and inevitable transition occurring in the energy sector to more sustainable energy sources. We are seizing the opportunity to adapt and participate in this global shift to a more sustainable future by making this a core part of our strategy moving forward.

May 2022

Formed Joint Venture with Plus Xnergy to develop 250MW of solar projects

Mar 2022

Acquired two late-stage wind development projects in Brazil

Aug 2021

Collaborate with Plus Xnergy to invest and develop solar projects via PPA schemes within and beyond Malaysia

Jun 2021

Collaborate with Verano Capital to progress 800MW pipeline of solar projects in Latin America

Apr 2021

Signed power purchase agreement for Nokh project

Mar 2021

Won 190MW project in Nokh Solar Park, India

Dec 2020

Increase stake in Rising Bhadla 1 & 2 solar plants to 95%

Oct 2019

Establish Renewables Division
Build a lean and experienced team

Mar 2019

Acquired 37.5% stake in 140MW Rising Bhadla 1 & 2 solar plants in India

DIVERSIFYING INTO RENEWABLES

DIVERSIFYING INTO GREEN TECHNOLOGIES

Sep 2020

Establish Green Technologies Division (YGT)

Nov 2020

Partner with Wilhemsen to develop customised on demand 3D printing products

Feb 2021

Invested in Lift Ocean AS to develop hydrofoil technology for marine applications

Apr 2021

Official launch of YGT at Singapore Maritime Technology Conference 2021
Unveil concept model of Hydroglyder

Jun 2021

Co-invested with SMRT Ventures in autonomous vehicle tech start-up, Moovita
Invested in Oyika to accelerate adoption of electric motorbikes with swappable battery technology

Aug 2021

Awarded grant by Maritime and Port Authority of Singapore and Singapore Maritime Institute as part of Goal Zero consortium to develop fully electric harbour craft solution in Singapore

Oct 2021

Invested in marine battery solutions pioneer, SPBES
Signed term sheet with GreenTech Malaysia Alliances to accelerate national vehicle charging infrastructure development

Feb 2022

Formed a joint venture with GTMA to accelerate the development of EV charging infrastructure in Malaysia




Join us on this journey towards a more sustainable future

Together, we can make a difference

  • FIND OUT MORE

  • About our Climate Goals and Roadmap

    Read More
  • About our strategy and business divisions

    Read More
  • © 2022 Yinson Holdings Berhad 199301004410 (259147-A).
    All rights reserved.
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