Our Board of Directors (“the Board”) determines the overall direction for the Company’s sustainability strategies. The Audit and Risk Management Committee (“ARC”) under the stewardship of the Board evaluates and incorporates sustainability issues as part of the Group’s strategic formulation, and to approve, manage, and monitor ESG factors material to the business.
To drive organisation-wide sustainability initiatives, we have established a Sustainability Team (“the Team”) consisting of employees from various departments with a diversity of experience and background. The Team is responsible for implementing and formalising sustainability policies and procedures, management processes, and sustainability development standards. It also supports and provides adequate resources to various functional units to perform the established sustainability processes and practices.
The Team works closely with AEM’s Sustainability Steering Committee (“SSC”), comprised of our senior management team. The SSC, set up to support the Company’s efforts in driving sustainability-related efforts, is responsible for implementing AEM’s sustainability objectives and strategy, managing and monitoring overall sustainability performance, and ensuring the Board is regularly updated on AEM’s sustainability progress. With the support of the Team, the SSC helps the ARC and the Board determine the Company’s material economic, environmental, and social aspects and set quantitative and qualitative targets for the forthcoming year.
In FY2021, COVID-19 regulations and restrictions have made traditional in-person meetings difficult. However, AEM is committed to understanding and safeguarding our stakeholders’ interests. We continue to engage all our stakeholder groups by updating AEM developments and receiving feedback on digital platforms such as LinkedIn and our Corporate Website.
We identify our stakeholders as groups that 1) impact our business, 2) impacted by our business, and 3) provide expertise in material factors such as external organisations. Our stakeholders’ feedback helps us determine our material topics and identify our focus areas. AEM is committed to listening to our stakeholders, and we welcome their concerns and expectations via our webpage: https://www.aem.com.sg/contact
|Key pillar||FY2021 Achievements||Perpetual Targets|
|Corporate Governance & Anti-Corruption|
|Economic Performance – Economic Value Generated and Distributed (S$’000)|
|Solidifying Relationships with Our Stakeholders|
|Occupational Health and Safety (OHS)|
|Training and Education|
|Diversity and Equal Opportunity||Increased gender and age diversity on the Board|
|Market Presence and Contribution|
|Socioeconomic Compliance||No instances of non-compliance with governmental laws and regulations||Continue to maintain our overall compliance record, as well as compliance with specific laws or regulations in the social and economic area|
|Customer Health and Safety||Zero (0) incident of non-compliance with regulation and/or voluntary codes concerning the health and safety impacts of our products and services||Maintain zero (0) incident of noncompliance and continue to deliver quality products|
|Customer Privacy||Zero (0) substantiated complaint concerning breaches of customer privacy and loss of customer data||Maintain zero (0) substantiated complaint and continue with the efforts to promote protection of customer privacy|
|Sustainable Supplier Management|
|Energy||Purchase of 6,000 Renewable Energy Certificate ("RECs") in FY2021, equivalent to 6,000 megawatt-hour|
|Waste Management||First-year of monitoring waste generation|
|Environmental Compliance||Zero (0) fines or non-compliance of environmental-related compliance measures||Maintain zero (0) incident of environmental-related compliance issues|
|Water Management||Water consumption has increased with the increased production and the acquisition of CEI. However, measures have been taken to reduce water consumption|