Environment

Climate change & carbon management

Integrate and adopt climate considerations for business resiliency and manage decarbonisation efforts through technology-driven optimisation and low-carbon processes. 

At Yinson, we aspire to be part of the solution towards solving the global climate issue. We recognise that effective greenhouse gas (“GHG”) management enables Yinson to mitigate climate-related risks and capitalise on opportunities, and acknowledges our role in delivering clean and equitable energy while managing our climate impacts.

Climate action is integral to the Group strategy development and is closely integrated and operationalised throughout our businesses.

Our climate strategy
GHG verification and assurance

Inclusive energy transition

A balanced approach to the energy trilemma to support the global energy shift towards an equitable and inclusive low-carbon economy through renewable and innovative low-carbon solutions.

We believe in a future where energy is clean, accessible, affordable and reliable for everyone. We strive to provide energy security and affordability to as many people as possible today, bringing them along through the transition.

Our businesses contribute to advancing an inclusive energy transition as depicted in the graphic below.

Energy security

Yinson Production and Yinson Renewables contribute both traditional and alternative forms of energy to the mix, catering to localised energy demands. This approach keeps the supply stable and accessible throughout the transition.

Energy equity

Yinson Production and Yinson Renewables play a key role in keeping energy costs low during the transition by providing a stable energy supply tailored to the economics and infrastructure of the communities in which we operate. Meanwhile, Yinson GreenTech is building an energy-efficient, integrated technology-driven ecosystem that helps to keep energy costs low.

Environmental sustainability

While Yinson Renewables and Yinson GreenTech drive the transition to a clean energy ecosystem, Yinson Production contributes to lowering emissions in offshore production operations and supporting others in this endeavour.

Biodiversity management

Strategies to reduce negative impact from operations to enhance ecosystem resilience through partnerships and conservation efforts.

Yinson firmly believes in biodiversity management to safeguard our planet’s biodiversity, recognising its critical role in sustaining ecological equilibrium, supporting human health and ensuring long-term prosperity.

Yinson’s commitment to biodiversity is outlined in our Biodiversity Policy, which sets out how we strive to develop a business model that promotes sustainable practices that preserve and enhance natural ecosystems.

Aside from employee-driven biodiversity activities, we also operationalise biodiversity conservation across our business operations. For example, our FPSO assets have incorporated environmental design values to mitigate potential impacts on biodiversity.

Biodiversity Policy

Environmental management

Responsible management of materials, encompassing their acquisition, disposal and effective measures to address waste, water, effluent and air pollution.

We aim to address environmental challenges responsibly. This includes managing waste and pollutants from offshore operations with specialised procedures to minimise environmental impact.

Our offshore businesses have a thorough waste management structure, compliant with the International Convention for the Prevention of Pollution from Ships (“MARPOL”). We are striving towards full adoption of the principle of reduce, reuse and recycle on our waste streams, with responsible disposal from licensed waste management companies as the last resort. We target oil water discharge content of less than 15 parts per million, compared to the World Banking Group guideline limit of less than 30 parts per million.

We also diligently monitor and evaluate air emissions aboard our FPSOs to mitigate our carbon footprint. In line with our commitment to reducing air emissions, we prioritise the adoption of low-emission technologies whenever feasible on board our assets.

Sustainability Policy
Biodiversity Policy

Resource efficiency

Responsible use of input material in product development, construction and operations.

Infrastructure assets, such as our FPSOs and solar farms, are resource-intensive due to their sheer scale and complexity. Prioritising efficient and responsible resource utilisation over the projects and operations phases of our assets is paramount so that we can ensure that our assets can contribute to economic growth without negatively affecting natural resources.

On our FPSOs, design solutions that contribute to resource efficiency include combined cycle technology, electrification of our FPSOs, variable frequency drives, seawater turbine generators and digitalisation technologies. In our renewables business, we consider environmental footprint when selecting equipment and product, practice strict quality controls to ensure materials are used efficiently and incorporate end-of-life recycling as part of our procurement evaluation.

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Yinson’s climate strategy

The global structural shifts towards a low-carbon economy and the urgent push from governments for self-sufficiency and energy security have continued to drive sustainable infrastructure investments. Yinson continues to be transition-focused as a Group. As part of our overarching strategy, we consciously adjust various levers to balance the speed of our transition with global market factors such as inflation, supply chain constraints, and capital cost for growth.

Yinson Climate Goals

Yinson has set ambitious targets to achieve carbon neutrality by 2030 (encompassing Scopes 1 and 2 emissions) and net zero emissions by 2050 (encompassing Scopes 1, 2 and 3 emissions).

Carbon neutral by 2030

Reduce Group-wide Scope 1 and 2 GHG emissions to the lowest possible levels while compensating for any residual emissions via carbon offsets to achieve carbon neutrality by 2030.
  • Measure and verify GHG emissions.
  • Deploy emission reduction measures where reasonably practicable.
  • Use high-quality offsets to balance residual GHG emissions by 2030

Net zero by 2050

Reduce Group-wide Scope 1, 2, and 3 GHG emissions to the lowest possible levels while compensating for and removing any residual emissions to achieve net zero by 2050.
  • Invest in nature-based and technology-based carbon removal projects.
  • Actively invest in the carbon value chain and low-carbon energy solutions.

Three-pronged Climate Strategy

As our key businesses contribute to the building of sustainable energy infrastructure that empowers communities, drives economic growth, and protects the environment for current and future generations, we continue to operationalise our climate strategy through a three-pronged approach.

Carbon Reduction

Reduce emissions across Scopes 1, 2, and 3 by optimising internal processes and operations, while adopting innovative emissions-reducing technologies and utilising renewable energy where possible.

Carbon Removal

Explore various nature-based (such as afforestation and reforestation) and technology based (such as Direct Air Capture) carbon removal solutions to remove atmospheric carbon dioxide for any residual emissions.

Carbon Compensation

Utilise carbon compensation mechanisms, including high integrity and high-quality carbon credits, to offset residual Scope 1 and 2 emissions after reduction efforts.

Yinson’s Climate Report

Yinson’s Climate Report outlines Yinson’s climate strategy and approach to net zero, the progress of our climate action, and the methods adopted for the management of climate risks and opportunities.

The Climate Report 2024 streamlines our disclosures into a single document. The Report continues to adopt and align with applicable climate-related disclosure frameworks, including TCFD, ISSB S2 and TPT, ensuring our climate transition plans are robust, credible, and aligned with industry best practices.

Yinson Climate Report 2024