BUILDING A SUSTAINABLE FUTURE - Sustainability Report 2020 - Keppel Corporation
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BUILDING A SUSTAINABLE FUTURE Sustainability Report 2020
AS ONE
INTEGRATED
BUSINESS
We will harness the strengths
and expertise of the Group
to provide solutions for
sustainable urbanisation
that are good for the planet,
for people and for Keppel.
VISION
A trusted global company building
a sustainable future.
MISSION
We deliver solutions for sustainable
urbanisation safely, responsibly
and profitably.
STRATEGIC PILLAR:
RESPONSIBLE BUSINESS
Economic Sustainability 36
Corporate Governance and
Risk Management 40
Supply Chain and
Responsible Procurement 56
Product Quality and Safety 60
STRATEGIC PILLAR:
PEOPLE AND COMMUNITY
Occupational Safety and Health 64
Labour Practices, Talent Management
GROUP OVERVIEW and Human Rights 71
Letter to Stakeholders 2 Community Development 80
Vision 2030 – with Sustainability at
the Core of Our Strategy 7
Highlights 8 OTHER INFORMATION
Awards and Recognition 9 About this Report 90
Global Presence 10 GRI Content Index 91
Group Structure 12 Independent Assurance Statement 95
Materiality 13 Independent Verification Statement 97
Sustainability Framework 14 Business for Societal Impact (B4SI)
Framework Assurance Statement 2020 99
Sustainability Management 15
Key Personnel 100
Sustainable Development Goals 18
United Nations Global Compact 22
STRATEGIC PILLAR:
ENVIRONMENTAL STEWARDSHIP
Climate Action 24
Environmental Management 29
GROUP OVERVIEW
2
LETTER TO STAKEHOLDERS 3
GRI 102-14
BUILDING A
SUSTAINABLE
FUTURE
As part of Vision 2030, Keppel has
put sustainability at the core of our strategy,
and we are committed to supporting the
UN Sustainable Development Goals.
LOH CHIN HUA Chief Executive Officer
DEAR STAKEHOLDERS, CLIMATE ACTION Given the progress we have achieved in reducing
At the United Nations Climate Ambition
COVID-19 caused significant human Summit in December 2020, 75 global leaders carbon emissions intensity, we are looking into setting
suffering and disruption. It also highlighted
the interconnectedness of the global
presented ambitious new commitments to
confront the climate crisis, demonstrating an absolute emissions reduction target aligned with
eco-system and our vulnerability to
trans-border risks, whether from pandemics,
the impact of the Paris Agreement in
accelerating climate action and ambition.
climate science and Singapore’s national targets.
environmental degradation or climate
change, and the importance of sustainable Earlier on, in March 2020, the Singapore
development and building resilience. government had submitted its enhanced
More recently, the Singapore government 28.8% reduction in carbon emissions intensity
Nationally Determined Contribution and
has launched the Singapore Green Plan 2030 from 2010 levels by 2030. Both targets
In May 2020, Keppel unveiled Vision 2030, our Long-Term Low-Emissions Development
in March 2021, a whole-of-nation movement are aligned with national goals set by
long-term roadmap to grow and transform Strategy, with an absolute emissions target
to advance Singapore’s national agenda the Singapore government over the years.
the Company from a conglomerate of diverse to peak emissions at 65 million tonnes
on sustainable development.
parts into an integrated business providing of carbon dioxide equivalent (MtCO2e)
I am pleased to announce that as at
solutions for sustainable urbanisation, with around 2030, halve emissions from its
Keppel is committed do its part to support end-2020, we have achieved and surpassed
sustainability at the core of our strategy. peak to 33MtCO2e by 2050, with a view to
the international agenda on climate action our 2020 target, with a 29.4% average
achieving net zero emissions as soon as
and also contribute towards Singapore’s reduction in carbon emissions intensity
Beyond articulating the Company’s strategy, viable in the second half of the century.
Green Plan 2030. from our 2010 baseline. Given the progress
it also reflected our determination to focus
we have achieved, we are looking into how
on long-term growth and sustainability, even
Our stance on environmental sustainability is Keppel can further enhance its carbon
as we worked hard to combat the pandemic.
articulated in our Environmental Sustainability emissions reduction target, including
Policy, which is available on Keppel’s setting an absolute emissions reduction
We are committed to sustainable development,
website. We are committed to improving target aligned with climate science and
and leverage collaboration and partnership to
our environmental performance, and have Singapore’s national targets.
support the achievement of the United Nations
integrated environmental sustainability
Sustainable Development Goals (SDGs).
considerations into our major business Reflecting our commitment to reduce
We have incorporated 10 of the SDGs
and investment decisions, as well as our carbon footprint, Keppel’s corporate
as a supporting framework to guide our
the performance appraisal of senior headquarters in Singapore has been
sustainability strategy.
management across the Group. powered by renewable energy since
end-2018. This year, we have also acquired
In 2014, we set ourselves a target to reduce carbon credits to offset emissions from
carbon emissions intensity by 16% from business travel and employee commuting,
2020 business-as-usual levels. In 2018, allowing our corporate office to achieve
we set a longer-term target to achieve a carbon neutrality for the whole of 2020.
Sustainability Report 2020 Keppel Corporation Limited
GROUP OVERVIEW
4 LETTER TO STAKEHOLDERS 5
STRONG GOVERNANCE investigated the incident and put in place provide support to communities affected Community Hospital, which is the first in
Beyond running our business in a sustainable Keppel is committed to upholding high
standards of corporate governance.
enhanced training and other measures to
prevent recurrence.
by the pandemic in Singapore and overseas.
This included a $4.2 million package to
Singapore to be integrated within a hospital
compound, and also the first of NKF’s centres
manner, we are making sustainability our We have a strong and independent board,
with six independent directors out of We are also committed to sustainable
support lower income households in 1 and
2-room HDB flats through rebates given by
to offer fully integrated and seamless
dialysis care for both haemodialysis and
business through the solutions we provide. a total of eight directors. We recognise
that diversity in the composition of the
procurement and supply chain management.
Suppliers of the Keppel Group of companies
M1, Keppel Electric and City Gas. Assistance
was also provided to frontline staff, migrant
peritoneal dialysis patients.
Board provides a range of perspectives are expected to abide by the Keppel Supplier workers and others affected by COVID-19. Despite the restrictions imposed by
and insights which support good decision- Code of Conduct, which covers business The package was funded by voluntary COVID-19, Keppelites contributed more
The Group is estimated to have saved daily from either seawater or water from making, and have in place a Board Diversity conduct, labour and environmental aspects. contributions from the Keppel Group’s than 10,000 hours of volunteer community
1,040,420 GJ of energy from its energy the Marina Reservoir, depending on the Policy that sets out the framework and In 2020, all new suppliers were screened in directors, senior management and staff, service globally, including both physical events
efficiency initiatives in 2020 and through prevailing weather conditions. The ability approach for the Board on this matter. accordance with environmental, social and with matching contributions from Keppel held in compliance with safe management
cumulative green initiatives implemented to switch from treating rainwater to treating governance (ESG) criteria, and 100% of Corporation. We also contributed to the measures, as well as creative virtual
at Keppel Land’s Green Mark-certified seawater during drier seasons strengthens In 2019, Keppel O&M became one of the qualified suppliers endorsed the code or Courage Fund and supported the relief engagement programmes to provide relief
developments. The total energy saving is Singapore’s water supply resilience in first companies in Singapore to achieve have their own codes which met Keppel’s efforts of the Singapore Red Cross and the for beneficiaries, including seniors who have
equivalent to about 54% of the Group’s total the face of increasing rainfall uncertainty global certification for the ISO 37001 requirements. In line with our efforts to Shanghai Charity Foundation, among others. been isolated as a result of the pandemic.
energy consumption in 2020, and translates caused by climate change. Anti-Bribery Management System. enhance the well-being of migrant workers,
to estimated cost savings of $68 million Reflecting Keppel’s zero tolerance for Keppel O&M also wrote to its contractors Keppel also supported environmental SUPPORTING A GLOBAL COMPACT
and avoidance of around 120,000 tCO2e. In the urban development space, Keppel Land corruption, we have continued to enhance and employment agents earlier this year initiatives such as NParks’ OneMillionTrees Since 2018, Keppel has been a signatory
is actively contributing towards greening our compliance measures, including to require that they abide by the Dhaka movement, with a $3 million commitment of the United Nations Global Compact,
MAKING SUSTAINABILITY the built environment. In December 2020, progressively rolling out the ISO 37001 Principles for Migration with Dignity that will go towards the planting of the world’s largest corporate sustainability
OUR BUSINESS Keppel Bay Tower, where Keppel Corporation Anti-Bribery Management System across going forward. 10,000 trees over the next five years in initiative promoting sustainable business
Beyond running our business in an is headquartered, was certified by the business units. Apart from Keppel O&M, parks and nature reserves in Singapore. practices. We affirm our support of
environmentally responsible manner, Building and Construction Authority as the Singapore entities of both Keppel Land CARING FOR THE COMMUNITY Keppel Land also worked with the the Global Compact’s 10 principles on
we see sustainability as a business and Singapore’s first Green Mark Platinum and Keppel Data Centres also achieved Keppel is committed to doing good and Sustainable Singapore Gallery, which human rights, labour, environment and
envisage Keppel playing a significant role (Zero Energy) commercial building. We ISO 37001 certification in 2020. giving back to the community wherever is managed by PUB, to launch a public anti-corruption, and this report serves
in helping businesses and communities see this not just as one isolated example, we operate. As a result of COVID-19, a lot outreach programme to raise awareness as our Communication on Progress.
around the world become more sustainable but a demonstration of how we can Our commitment to sustainability is one of our community outreach efforts in 2020 on rising sea levels and the urgent need We also support the Taskforce on
through the solutions that we provide. help existing commercial buildings in practised at all levels of the company. were focused on building resilience against for climate action. Climate-related Financial Disclosures
Singapore and overseas become greener, We respect and uphold fair employment the pandemic. and are working towards incorporating
In line with Vision 2030, we have been or even zero energy buildings, in the years practices and human rights principles, In addition, Keppel made a $2 million its recommendations on voluntary
progressively refocusing the Group’s to come. and are committed to the well-being Since the start of the COVID-19 pandemic, donation towards a new National Kidney climate-related disclosures in our
portfolio on more sustainable solutions of our workforce. In 2020, against the Keppel has committed over $5 million to Foundation (NKF) dialysis centre at Yishun reporting framework.
that contribute to a cleaner and Keppel Data Centres is exploring floating backdrop of the pandemic, the Company
greener world. data centre technologies as well as other took additional efforts to rigorously
innovative solutions including a cold energy implement safe management measures
Keppel Offshore & Marine (Keppel O&M), harnessing facility and a hydrogen powered to ensure the health and safety of our
traditionally known for being a global leader tri-generation plant to reduce the carbon employees, partners and other stakeholders,
in building offshore drilling rigs, has been footprint of data centres. It is also partnering both in Singapore and overseas.
pivoting towards renewables and cleaner industry leaders to explore the first
fossil fuels such as liquefied natural gas, end-to-end decarbonisation process in I am glad to report that despite the very
which together made up more than 80% of Singapore that can help reduce carbon challenging operating environment, our
its $3.3 billion orderbook as at end-2020. intensity across key sectors such as employees have remained highly engaged.
Earlier this year, we announced that energy, chemicals and construction. In the 2020 Employee Engagement Survey,
Keppel O&M will exit the offshore rig we achieved an overall employee engagement
building business, after completing the Last December, the newly established score of 87%, significantly higher than
existing rigs under construction, and will Keppel Renewable Energy also announced Mercer’s global average of 80%, with 91%
transit to being a developer and integrator its first solar farm project in Australia, of respondents indicating that they would
of offshore energy and infrastructure taking the Group a step closer towards go beyond the norm to contribute to
assets, that is well-placed to support the our target of growing our renewable Keppel’s success. We also continued
global energy transition. energy portfolio to 7GW by 2030. to be recognised in Forbes’ list of the
World’s Best Employers 2020.
In April 2020, Keppel Infrastructure, through These are just a few examples of the
a Keppel-led consortium, secured a contract many exciting opportunities in sustainable Safety is one of Keppel’s core values, and
worth about $1.5 billion to develop a solutions that we are seizing across we continue to enhance the Group’s safety
waste-to-energy facility and a materials the Group. performance, including through harnessing
recovery facility for Singapore’s Tuas Nexus technology such as using wearables,
Integrated Waste Management Facility. This With the risks and impact of climate change data analytics and artificial intelligence
will be Singapore’s first integrated facility becoming more evident, we are applying to improve our health and safety systems
to treat multiple waste streams, and will the lens of sustainability to the Group’s and processes. At the Singapore Workplace
contribute significantly towards the country’s major investment decisions. In 2020, we Safety & Health Awards 2020, Keppel
long-term waste management plans. started introducing a shadow carbon price won 21 awards, the highest number by
in the evaluation of all major investments, a single organisation for the year. In 2020,
In June 2020, Keppel Infrastructure also to help us better understand the carbon our total recordable injury rate improved.
commenced commercial operations for footprint of our business activities, Regrettably, despite our best efforts, the
the Keppel Marina East Desalination Plant the possible impact of future increases Group recorded one fatality at a yard in
In February 2021, Prime Minister Lee Hsien Loong (third from left) together with Minister for Sustainability and the Environment, Ms Grace Fu (fourth from right) officiated at the
in Singapore. The plant can produce up in carbon taxes, and also avoid potential Singapore. We are deeply saddened by the opening of the iconic Keppel Marina East Desalination Plant.
to 137,000m3 of fresh drinking water stranded assets. loss of our colleague. We have thoroughly
Sustainability Report 2020 Keppel Corporation Limited
GROUP OVERVIEW
6 LETTER TO STAKEHOLDERS
Keppel Volunteers distributed festive care packs to beneficiaries as part of the Group’s support for vulnerable communities affected by COVID-19.
Keppel is committed to doing good and
giving back to the community wherever
we operate.
We are encouraged by the international and has been succeeded by Mr Danny Teoh,
recognition of our sustainability efforts. a longstanding director of the Company.
Keppel Corporation retained the highest On behalf of the Board and management,
triple-A rating in the MSCI ESG ratings, I would like to express my deep appreciation
and has also been included in S&P Global’s to Boon Yang for his strong support and
Sustainability Yearbook 2021 for the first wise counsel over the past 12 years, which
time, achieving the Industry Mover Award helped Keppel to remain resilient and grow
for the Industrial Conglomerates category. from strength to strength.
Keppel also improved its ranking in the
Singapore Governance and Transparency Guided by Keppel’s Vision 2030, we will
Index, and continued to be included continue to work closely with all stakeholders
in the iEdge SG ESG Leaders Index and to build a sustainable future.
Transparency Index by SGX, FTSE4Good
Index Series and Euronext Vigeo Eiris –
World 120 Index. Yours sincerely,
ACKNOWLEDGEMENTS
I would like to thank our many partners,
customers and stakeholders for their trust
and support for Keppel as we navigate
the current challenging environment.
On 23 April this year, Dr Lee Boon Yang LOH CHIN HUA
retired as Chairman and non-executive Chief Executive Officer
Director from the Board of Keppel Corporation, 10 May 2021
Sustainability Report 2020
7
VISION 2030
WITH SUSTAINABILITY
AT THE CORE
OF OUR STRATEGY
Keppel aims to be a powerhouse of end-to-end
solutions for sustainable urbanisation, an ESG leader
advancing climate action, as well as a valuable company
with a strong growth trajectory, delivering 15% ROE,
steady recurring income and good dividends.
As one integrated business, Keppel will contribute to
building a sustainable future for all stakeholders.
FOUR FOCUS AREAS KEY MACROTRENDS THAT
VISION 2030 SEEKS TO ADDRESS
Energy Transition,
Climate Change
Energy & Environment
Rapid Urbanisation,
Ageing Populations
Urban Development
Digitalisation
Connectivity
Super
Liquidity
Asset Management
Keppel Corporation Limited
GROUP OVERVIEW
8
HIGHLIGHTS
SUSTAINABILITY BENCHMARKS ECONOMIC VALUE EMISSIONS REDUCTION
AAA $7.1b 29.4%
Rating achieved in the MSCI Of economic value generated Average reduction in carbon
ESG ratings. Ranked top 8% of for our stakeholders. emissions intensity from
all industrial conglomerates in our 2010 baseline achieved
the MSCI All Country World by operations in Singapore
Index, based on ESG criteria. and overseas.
ENERGY SAVINGS GOVERNANCE WORKPLACE SAFETY & HEALTH AWARDS
$68m 6th 21 Awards
In estimated cost savings On the Singapore Governance The highest number of
from energy efficiency and Transparency Index 2020, awards won by a single
initiatives implemented which recognises companies organisation in 2020.
in 2020 and from for strong corporate governance
Keppel Land’s Green Mark- disclosures and practices.
certified developments.
EMPLOYEE ENGAGEMENT TRAINING & DEVELOPMENT SOCIAL INVESTMENTS
87% 19.0hrs $9.6m
Overall engagement score, Of training per Invested in support of worthy
higher than Mercer’s employee globally. social and environmental
global average of 80%. causes, including COVID-19
relief efforts, caring for the
underprivileged, supporting
education, and protecting
the environment.
SUPPLIERS GREENING THE ENVIRONMENT VOLUNTEERISM
100% 10,000 trees >10,000hrs
Of new qualified suppliers To be planted by Keppel in Of community service achieved
were screened in accordance parks and nature reserves in by Keppel Volunteers, including
with environmental, social Singapore over the next five engaging beneficiaries virtually.
and governance criteria. years, in support of NParks’
OneMillionTrees movement.
Sustainability Report 2020
GROUP OVERVIEW
AWARDS AND RECOGNITION 9
MSCI World ESG Leaders Index iEdge SG ESG Indices FTSE4Good Index Series
Keppel Corporation has retained the highest Keppel Corporation continued to be listed Keppel Corporation continued to be included
triple-A rating in the MSCI environmental, social among the top 10 constituents of the iEdge as an index constituent of the FTSE4Good
and governance (ESG) ratings1. The company SG ESG Leaders Index and iEdge SG ESG Index Series. The FTSE4Good Index Series
has held the triple-A rating since February Transparency Index in 2020. The iEdge SG identifies companies demonstrating
2020. Keppel Corporation is ranked as a leader, ESG Indices are composed of SGX-listed strong ESG policies and practices. To
and among the top 8% of global industrial companies that meet minimum sustainability be included in this index, companies are
conglomerates, based on ESG criteria, in the reporting requirements and are considered independently assessed on more than
MSCI All Country World Index (ACWI), MSCI’s ESG leaders with established and leading 300 indicators, which are applied according
flagship global equity index, which covers more ESG practices. to each company’s unique ESG risk exposure.
than 2,800 constituents. Keppel Corporation Keppel has been included in the FTSE4Good
is a constituent on the MSCI ACWI and World Index since 2019.
ESG Leaders Indexes, and has been included
on the MSCI ESG Leaders Indexes since 2014.
Euronext Vigeo World 120 S&P Global Sustainability Yearbook CDP
Keppel Corporation was listed as an index Keppel Corporation was included in S&P Keppel Corporation achieved a score of
component of the Euronext Vigeo Eiris – Global’s Sustainability Yearbook 2021, A- for CDP’s Climate Change Assessment,
World 120 Index for the eighth consecutive achieving the Industry Mover Award for and was recognised by CDP as one of
year. Developed by Euronext, the primary the Industrial Conglomerates category. the Most Improved Companies for the
exchange in the Eurozone, and Vigeo, The Yearbook showcases the best performing year 2020, in the Hong Kong, Macau and
the leading European agency in corporate companies in terms of financially-material Southeast Asia region. CDP is a non-profit
social responsibility ratings, the Euronext ESG metrics. In 2020, S&P Global assessed that runs a global disclosure system that
Vigeo Eiris – World 120 Index is composed 7,032 companies in 61 industries, with helps companies and cities manage their
of 120 of the highest-ranking listed 630 sustainability leaders selected for the environmental impacts.
companies globally in terms of performance Yearbook. Keppel scored among the top
in corporate responsibility. 15% in the industry.
Forbes World’s Best Employers Workplace Safety and Health Awards Community Chest Awards
Keppel was recognised in Forbes’ list of The Keppel Group was conferred 21 awards Keppel Corporation was conferred the
the World’s Best Employers 2020 for the at the Workplace Safety and Health (WSH) Community Spirit Platinum Award by
second year running, and was the only Awards 2020 organised by Singapore’s Ministry the Community Chest in recognition of
Singapore company ranked in the engineering/ of Manpower and the WSH Council. The Group Keppel’s CSR efforts and donation to
manufacturing industries. Companies were received accolades in the following categories: The Courage Fund in 2020 in support of
chosen based on global independent surveys Safety and Health Award Recognition for those affected by the COVID-19 pandemic.
of over 160,000 workers on their opinion on Projects Awards, WSH Performance Awards,
the attractiveness of employer brands. WSH Innovation Awards and WSH Awards
for Supervisors. Since 2014, Keppel has
consistently been awarded the highest
number of accolades at the WSH Awards.
1 The use by Keppel Corporation of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein,
do not constitute a sponsorship, endorsement, recommendation, or promotion of Keppel Corporation by MSCI. MSCI services and data are the property of MSCI or its
information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
Keppel Corporation Limited
GROUP OVERVIEW
10
GLOBAL PRESENCE 11
GRI 102-4 | 102-6 | 102-7
TOTAL FY 2020 REVENUE ASIA
$6.6b $5,246m
Markets outside of Singapore • China
contributed about 41% of the EUROPE • India
$374m
Group’s revenue for FY 2020. • Indonesia
• Japan
• Belgium • Malaysia
• Germany • Myanmar
• Italy • The Philippines
• Ireland • Singapore
• The Netherlands • South Korea
• The United Kingdom • Vietnam
NORTH AMERICA
$644m
• The United States
MIDDLE EAST
$105m
• Qatar
• The United Arab Emirates
SOUTH AMERICA AUSTRALIA
$72m $133m
• Brazil
Sustainability Report 2020 Keppel Corporation LimitedGROUP OVERVIEW
12
GROUP STRUCTURE
GRI 102-2 | 102-5 | 102-7 | 102-45
KEPPEL CORPORATION LIMITED
ENERGY & ENVIRONMENT URBAN DEVELOPMENT CONNECTIVITY ASSET MANAGEMENT
• Offshore & Marine • Property Development • Data Centres • Asset Management
• Energy Infrastructure & Investment • Telecommunications • REITs & Trust
• Environmental Infrastructure • End-to-End Master Development • Logistics • Private Funds
• Renewable Energy
KEPPEL OFFSHORE & KEPPEL LAND LIMITED KEPPEL TELECOMMUNICATIONS & KEPPEL CAPITAL HOLDINGS
MARINE LTD TRANSPORTATION LTD PTE LTD
100% 100% 100% 100%
Keppel FELS Limited 100% Keppel Land 100% Keppel Data Centres Holding 100% Keppel REIT Management 100%
– various holding companies Pte Ltd6 Limited
Keppel Shipyard Limited 100% Southeast Asia and India
Keppel Logistics Pte Ltd 100% Alpha Investment Partners Ltd 100%
Keppel Singmarine Pte Ltd 100% Keppel Land China 100%
China UrbanFox Pte Ltd 100% Keppel Infrastructure Fund 100%
Keppel LeTourneau 100% Management Pte Ltd
Keppel Nantong Shipyard 100% Keppel Bay Pte Ltd 100%
M1 LIMITED2 Keppel DC REIT 100%
Company Limited 100%
Management Pte Ltd5
China KEPPEL URBAN SOLUTIONS
PTE LTD Keppel Capital Alternative 100%
Offshore Technology 100% 100%
Asset Pte Ltd
Development Pte Ltd
SINO-SINGAPORE TIANJIN Keppel Pacific Oak US REIT 50%
Keppel Marine & 100%
ECO-CITY INVESTMENT AND Management Pte Ltd
Deepwater Technology Pte Ltd
DEVELOPMENT CO., LTD1
Keppel AmFELS LLC 100% China 50% Keppel REIT3,4
United States
49%
Keppel FELS Brasil SA 100%
Brasil
Keppel DC REIT4,7
Keppel Philippines Marine Inc 98% 21%
The Philippines
Keppel Subic Shipyard Inc 86% KEPPEL PACIFIC OAK
The Philippines US REIT4
7%
Floatel International Ltd 50%
Bermuda
KEPPEL INFRASTRUCTURE
HOLDINGS PTE LTD GROUP CORPORATE SERVICES
100%
Control & Accounts Information Technology Strategy & Development
Keppel Gas Pte Ltd 100%
Corporate Communications Internal Audit Tax
Keppel Electric Pte Ltd 100%
Cyber Security Legal Treasury
Keppel DHCS Pte Ltd 100%
Health, Safety & Environment Mergers & Acquisitions
Keppel Seghers Pte Ltd 100%
Human Resources Risk & Compliance
Keppel Infrastructure 100%
Services Pte Ltd
Keppel Merlimau Cogen Pte Ltd 49%
KEPPEL RENEWABLE
ENERGY PTE LTD
100%
KRISENERGY LTD4
Cayman Islands
40%
Notes:
1 Owned by a Singapore Consortium, which is in turn 90%-owned by the Keppel Group.
2 Owned by Keppel Telecommunications & Transportation Ltd (19%), a wholly-owned subsidiary of Keppel Corporation,
and Konnectivity (81%), a company jointly owned by Keppel Corporation and Singapore Press Holdings.
3 Owned by Keppel Land Limited (43%) and Keppel Capital Holdings Pte Ltd (6%).
4 Public listed company.
5 Owned by Keppel Capital Holdings Pte Ltd (50%) and Keppel Telecommunications & Transportation Ltd (50%).
6 Owned by Keppel Telecommunications & Transportation Ltd (70%) and Keppel Land Limited (30%).
7 Owned by Keppel Telecommunications & Transportation Ltd (20.6%) and Keppel DC REIT Management Pte Ltd (0.4%).
Updated as at 10 March 2021. The complete list of subsidiaries and significant associated companies is available at
https://www.kepcorp.com/annualreport2020.
Sustainability Report 2020GROUP OVERVIEW
MATERIALITY 13
GRI 102-21 | 102-46
Keppel Corporation’s sustainability reporting
OUR MATERIALITY PROCESS FOCUSES ON THE framework and material environmental,
social and governance (ESG) factors were
MOST IMPORTANT SUSTAINABILITY-RELATED reviewed in 2020 by the Group Sustainability
ISSUES, OPPORTUNITIES AND RISKS FROM Steering and Working Committees and were
deemed to remain relevant.
THE PERSPECTIVE OF OUR STAKEHOLDERS.
The Company last conducted a comprehensive
materiality assessment in 2019 which was
supported by an independent consultant.
REVIEW & This involved surveys, workshops and
IDENTIFY PRIORITISE INTEGRATE interviews with around 170 internal and
VALIDATE
external stakeholders, an assessment of
Step 1 Step 2 Step 3 Step 4 long-term global trends, and an internal
Identify and define Prioritise material Manage and Review and review of our businesses. The ESG factors
material factors. factors with the monitor high validate defined were prioritised in a matrix. The
most significant priority material material issues. outcome of the process was a revised
impacts. factors as part sustainability reporting framework and
of business an updated set of material ESG factors
processes. which were presented to and approved by
Keppel Corporation’s Board of Directors.
MATERIALITY MATRIX
Ranking of material issues in terms of
relative importance to stakeholders
1. Business Ethics & Integrity
2. Corporate Governance
3. Product Safety & Quality
4. Cyber Security & Data Protection
Issues Issues 5. Occupational Health & Safety
9-16 1-5 6. Economic Performance
7. Training & Development
8. Talent Attraction & Retention
Importance to External Stakeholders
9. Economic Contribution to Society
10. Customer Service Engagement
11. Waste Management
Issues 12. Water Management
17-22
13. Emissions
14. Energy Management
Issues
23-27 15. Sustainable Design
Issues
6-8 16. Climate Action
17. Research & Development
18. Sustainable Supply Chain
Management
19. Capital Allocation & Asset
Issues Management
28-29 20. Labour & Human Rights
21. Diversity & Inclusion
22. Community Development
23. Fair Treatment of Suppliers
Importance to Internal Stakeholders 24. Biodiversity
25. Land Degradation & Contamination
The outcome of the materiality review was a matrix illustrating the degree of importance that internal and 26. Employee Wellness
external stakeholders accord to the company’s material issues.
27. Rights of Local Communities
Legends 28. Noise Pollution
29. Collective Bargaining
Business Practices Environment Labour Communities
Keppel Corporation LimitedGROUP OVERVIEW
14
SUSTAINABILITY FRAMEWORK
GRI 102-47
We regard sustainability both as a corporate responsibility
and a source of business opportunities.
STRATEGIC PILLAR: STRATEGIC PILLAR: STRATEGIC PILLAR:
ENVIRONMENTAL RESPONSIBLE PEOPLE AND
STEWARDSHIP BUSINESS COMMUNITY
As part of Keppel’s Vision 2030, The long-term sustainability of our People are the cornerstone of our
we are progressively guiding and business is driven at the highest businesses. We are committed
refocusing our portfolio towards level of the organisation through to providing a safe and healthy
sustainable urbanisation solutions, a strong and effective board, good workplace, as well as investing
through evaluating their fit with Keppel’s corporate governance and prudent risk in training and developing our
Vision, Mission and ESG goals, as well management. We are driving innovation people to help them reach their
as through shadow carbon pricing and to seize opportunities, and through our full potential. We strive to build
climate risk assessments. We have set integrated business model, we seek vibrant and inclusive communities,
high-impact sustainability goals and to improve both the magnitude and through supporting initiatives
publicly committed to long-term targets quality of our earnings with more that protect the environment,
to reduce our carbon, waste and water recurring income, while enhancing promote education and care
intensity. We are tapping our engineering returns though active capital recycling. for the underprivileged, with the
nous to explore greener solutions, and We work closely with stakeholders in goal of building a sustainable
will continue to explore opportunities our value chain to enhance their future together.
in renewable energy assets. sustainability performance.
Material ESG issues: Material ESG issues: Material ESG issues:
• Climate Action • Economic Sustainability • Occupational Safety and Health
• Environmental Management • Corporate Governance and • Labour Practices, Talent Management
Risk Management and Human Rights
• Supply Chain and • Community Development
Responsible Procurement
• Product Quality and Safety
Sustainability Report 2020GROUP OVERVIEW
SUSTAINABILITY MANAGEMENT 15
GRI 102-18 | 102-19 | 102-20 | 102-22 | 102-26 | 102-29 | 102-31 | 102-32
GUIDED BY VISION
2030, WE WILL GROW
KEPPEL AS AN
INTEGRATED BUSINESS,
PROVIDING SOLUTIONS
FOR SUSTAINABLE
URBANISATION, WITH
SUSTAINABILITY
AT THE CORE OF
OUR STRATEGY.
Keppel Data Centres is exploring floating data centre technologies as well as other innovative solutions to reduce
the carbon footprint of data centres.
OUR STRATEGY a shadow carbon price in the evaluation of pushing boundaries to explore and develop
In May 2020, we unveiled Vision 2030, our all major investments. This would help us new solutions that can contribute to
long-term roadmap to grow and transform better understand the carbon footprint of combatting climate change, while also
Keppel into an integrated business providing our business activities and the possible opening up new profit pools for the Group.
solutions for sustainable urbanisation. impact of future carbon taxes, and also
We will focus on four key areas, namely avoid potential stranded assets. Over and The Board and management of Keppel
Energy & Environment, Urban Development, above running our business in a sustainable Corporation regularly review as well as
Connectivity and Asset Management, and environmentally responsible manner, oversee the management and monitoring
all part of a connected value chain, we see Keppel playing a significant role of the material environmental, social and
while putting sustainability at the core in helping businesses and communities governance (ESG) factors of the Company,
of our strategy. become more sustainable through the and take them into consideration in the
solutions that we provide. Beyond the determination of the Company’s strategic
We are applying the lens of sustainability solutions that Keppel is already well-known direction and policies.
to the Group’s major investment decisions. for, such as waste-to-energy (WTE) and
With the risks and impact of climate change water solutions, district cooling plants, The Group Sustainability Steering Committee
becoming more evident, we have introduced green buildings and townships, we are provides oversight and guidance on strategic
and operational issues. The committee
is chaired by Mr Loh Chin Hua, Keppel
Corporation’s Chief Executive Officer (CEO)
and Executive Director, and comprises
CEOs of key business units across
BOARD STATEMENT ON SUSTAINABILITY the Group.
Supporting the Steering Committee is the
“The key material environmental, social and Group Sustainability Working Committee,
governance factors for Keppel Corporation have co-chaired by Mr François van Raemdonck,
Director of Group Strategy & Development
been identified and are regularly reviewed by and Managing Director of Keppel Technology
Keppel Corporation’s Board of Directors and & Innovation, and Mr Ho Tong Yen, Director
of Group Corporate Communications,
management. The Board oversees the management Keppel Corporation.
and monitoring of these factors and takes them
The working committee, comprising
into consideration in the determination of the discipline-specific working groups with
Company’s strategic direction and policies.” representatives from across our different
businesses, executes and reports on
Keppel Corporation Board of Directors the Group’s efforts across the material
ESG aspects.
Keppel Corporation LimitedGROUP OVERVIEW
16 SUSTAINABILITY MANAGEMENT
STAKEHOLDER ENGAGEMENT Company’s material ESG factors. Arising • Securities Investors Association (Singapore)
GRI 102-21 | 102-42 | 102-43 from the review, a revised sustainability to engage the investment community and
Regular engagement with our stakeholders reporting framework and an updated set of promote good corporate governance;
helps us refine our material areas of focus. material ESG factors were presented to and
We define our stakeholders as groups that approved by Keppel Corporation’s Board of • Singapore National Employers
our business has a significant impact on, Directors. Please refer to pages 13 and 14 Federation to promote excellence in
and those with a vested interest in for more details. employment practices;
our operations.
MEMBERSHIPS IN ASSOCIATIONS • Workplace Safety & Health Council to build
We have applied the reporting principles GRI 102-12 | 102-13 industry capabilities to better manage WSH
from the GRI Standards on defining In addition to engaging our stakeholders, and promote safety and health at work;
report content, which include stakeholder we participate as members of various
inclusiveness, whereby stakeholders organisations, including: • The Institute of Policy Studies to support
are defined as entities or individuals the analysis and discussion of public
that can reasonably be expected to be • United Nations (UN) Global Compact policy in Singapore;
significantly affected by Keppel, or whose as a Signatory, and Global Compact
actions can reasonably be expected to Network Singapore as a member. • Singapore Institute of International Affairs
affect the ability of Keppel to implement We are committed to the 10 principles to deepen understanding and forge
the Company’s strategy or achieve of the Global Compact and support the stronger partnerships between countries
its objectives. UN Sustainable Development Goals; in the region; and
Keppel conducted a stakeholder consultation • Singapore Institute of Directors to promote • GRI Singapore as a member of the
exercise from December 2018 to April 2019. the professional development of directors Founding Consortium to support
All stakeholder groups were represented in and corporate leaders and uphold the companies in ASEAN with relevant
the consultation exercise, and their inputs highest standards of corporate governance services and training to manage and
informed our comprehensive review of the and ethical conduct; report their most material ESG impacts.
KEPPEL GROUP’S SUSTAINABILITY MANAGEMENT STRUCTURE KEPPEL’S CORE VALUES*
GRI 102-16
BOARD OF DIRECTORS
Sustainability
Steering Committee
Sustainability
Working Committee
Economic Occupational
Climate Action
Sustainability Safety & Health
Environmental Corporate Labour Practices,
Management Governance & Talent Management
Risk Management & Human Rights
Supply Chain & Community * Refreshed on 1 March 2020
Responsible Development
Procurement
Product Quality
& Safety
Sustainability Report 202017
OUR STAKEHOLDERS
GRI 102-21 | 102-40 | 102-42 | 102-43 | 102-44
EMPLOYEES CUSTOMERS GOVERNMENTS
Significance Significance Significance
People are our most valuable asset. We are Customer satisfaction is crucial to Governments shape the business
committed to the well-being of our people the success of our businesses. We are environments in which we operate. Political
and investing in their development. We committed to continually improving our factors, policies and regulations can affect
adopt merit-based recruitment practices range of products to better meet customers’ how businesses are run and also create
and emphasise diversity and inclusiveness. needs, including through harnessing new opportunities for companies. We track
insights from customer engagement. topics of concern to governments and
regulatory bodies wherever we operate,
and seek to not only comply with but also
support the policies of national and
regional governments.
Key Topics & Concerns Key Topics & Concerns Key Topics & Concerns
Vision, strategy and direction; innovation; Product quality & safety; Health, Safety and Opportunities for business collaboration
productivity; collaboration; talent Environment (HSE) excellence. and investment; sharing of industry best
management; people development. practices; setting industry benchmarks.
Approach Approach Approach
Annual employee engagement surveys; regular Regular meetings; ongoing communication Periodic visits and meetings; industry
townhalls and other engagement programmes; via different channels; regular customer forums; support for national and
training; mentorship programmes. satisfaction surveys. regional initiatives.
Our Response Our Response Our Response
Read more about how we manage our Read more about how we engage Read more about how we collaborate with
global workforce on pages 71 to 79. customers on pages 60 to 63. governments to raise industry standards
on pages 68 and 76.
SHAREHOLDERS LOCAL
& INVESTORS SUPPLIERS COMMUNITIES
Significance Significance Significance
Shareholders play an important role in the Strong, effective relationships with our As active members of our communities, we
financing and governance aspects of our suppliers give our businesses strategic aim to contribute towards their continued
business. Our Investor Relations Policy and operational advantages. By effecting well-being. We engage community leaders
sets out the principles that the Company stringent procurement processes and to develop impactful programmes that
abides by to ensure a level playing field a supplier code of conduct, we aim to drive community development.
and help shareholders and prospective encourage our suppliers to adopt more
investors make well-informed decisions. sustainable practices.
Key Topics & Concerns Key Topics & Concerns Key Topics & Concerns
Business strategy and direction; Compliance; HSE excellence; fair treatment; Community investments; donations to
economic performance. responsible procurement practices. charitable and environmental causes;
volunteer programmes.
Approach Approach Approach
Regular conference calls; shareholder Regular meetings by project managers and Regular meetings and community
meetings; briefings to retail shareholders; HSE teams with key subcontractors and outreach initiatives.
facility visits; results webcasts; ongoing suppliers; regular site visits by management.
email and phone communications.
Our Response Our Response Our Response
Read more about how we engage the Read more about how we work with Read more about how we collaborate with
investment community on pages 38 and 39 suppliers to influence their sustainability community partners to support social and
of the Company’s Annual Report 2020. performance on pages 56 to 59. environmental causes on pages 80 to 89.
Due to COVID-19 related restrictions in 2020, many physical meetings and visits were replaced by virtual engagements.
Keppel Corporation LimitedGROUP OVERVIEW
18
SUSTAINABLE DEVELOPMENT GOALS 19
GRI 102-12
WE ARE COMMITTED TO THE INTERNATIONAL SUSTAINABLE DEVELOPMENT AGENDA, AND LEVERAGE
COLLABORATION AND PARTNERSHIP TO SUPPORT THE ACHIEVEMENT OF THE UNITED NATIONS SUSTAINABLE
DEVELOPMENT GOALS (SDGs). WE HAVE INCORPORATED 10 OF THE SDGs AS A SUPPORTING FRAMEWORK
TO GUIDE OUR SUSTAINABILITY STRATEGY.
STRATEGIC PILLARS MATERIAL ISSUES SDGs APPROACH HIGHLIGHTS STRATEGIC PILLARS MATERIAL ISSUES SDGs APPROACH HIGHLIGHTS
Environmental Climate Action We seek to grow our business and seize The iconic Keppel Marina East Desalination Responsible Economic COVID-19 has accelerated many macrotrends, Keppel’s business operations generate
opportunities created by macrotrends Plant, Singapore’s first large-scale, dual-mode Sustainability such as increasing digitalisation, e-commerce employment, opportunities for suppliers
Stewardship such as climate change, energy transition desalination plant, capable of treating either Business and the energy transition, which we had and tax revenues for governments.
and urbanisation. seawater or rainwater from the Marina Reservoir, identified as part of Vision 2030.
commenced operations in June 2020. It is We have set targets to invest in
We are refocusing our portfolio on capable of producing about 30 million gallons We believe sustainability can be a good sustainability-linked innovation, and are
sustainable urban solutions, including of fresh drinking water per day. In addition, business, and will seize opportunities tapping our engineering nous to explore
through the use of shadow carbon pricing the ability to switch from treating rainwater in areas such as green developments, greener solutions such as floating data
and climate risk assessments. to treating seawater during drier seasons environmental solutions, renewables, centres, which are more energy efficient
strengthens Singapore’s water supply new energy and circular economy solutions. than traditional land-based ones. We are
Amidst the global energy transition, resilience in the face of increasing rainfall collaborating with partners to study
and reflecting Keppel’s commitment to uncertainty caused by climate change. hydrogen infrastructure for power
support climate action, Keppel Offshore generation and cooling, as well as
& Marine (Keppel O&M) has been pivoting Keppel O&M secured a contract to build the the development of carbon capture,
towards renewables and cleaner fossil first offshore wind turbine installation vessel utilisation and sequestration systems.
fuels such as liquefied natural gas. in the US, which is also one of the largest
Keppel O&M will also exit the offshore vessels of its kind in the world. Corporate As part of risk management, Keppel has Keppel’s business continuity plans were
rig building business, after completing Governance robust business continuity plans in place activated following the COVID-19 outbreak,
the existing rigs under construction. Keppel Renewable Energy entered into an & Risk to safeguard against the disruption of allowing us to continue operating effectively
agreement to undertake its first solar farm Management business operations. despite the implementation of various
project in Australia. measures to curb the spread of the
We are committed to being an effective, pandemic around the world, including
Keppel has adopted an evolutionary shadow accountable and transparent institution, working from home.
carbon pricing policy to mitigate climate-related and will conduct ourselves according to
risks in the mid to long term, prepare for the highest ethical standards and comply Keppel’s businesses provide many essential
tougher climate legislation and higher with all applicable laws and regulations services – such as power generation, water
carbon prices, and also avoid stranded assets. wherever we operate. Our tone on and waste treatment, telecommunications,
It starts at US$20 per tonne of carbon dioxide regulatory compliance is clear and data centres and logistics – and we continued
equivalent (tCO2e) in 2020 and will progressively consistently reiterated from the top of to operate during the pandemic, including
increase to US$50/tCO2e over time. the organisation. We have zero tolerance the Circuit Breaker period in Singapore.
for fraud, bribery, corruption and violation
of laws and regulations. Keppel O&M has complied with and
In addition, Keppel supported environmental
successfully concluded the Deferred
initiatives such as the National Parks Board’s
Prosecution Agreement which it had
OneMillionTrees movement, with a $3 million
entered into with the US Department
commitment that will go towards the planting
of Justice three years ago.
of 10,000 trees over the next five years in
parks and nature reserves in Singapore.
Reflecting Keppel’s zero tolerance for corruption,
we have continued to enhance our compliance
In line with Keppel’s focus on sustainability
measures, including rolling out the ISO 37001
and to advance the study of environmental
Anti-Bribery Management System across
sciences, Keppel partnered with the
business units. Beyond Keppel O&M, which
Nanyang Technological University, Singapore
had achieved global certification in 2019, the
(NTU Singapore) to establish the Keppel
Singapore entities of both Keppel Land and
Environmental Studies Gold Medals. The
Keppel Data Centres also achieved ISO 37001
Medals will be awarded to the top graduating
certification in 2020.
students of NTU’s Bachelor of Science in
Environmental Earth Systems Science. In recognition of Keppel’s strong corporate
Environmental We are committed to minimising our We have set high-impact sustainability goals governance disclosures and practices, the
Management environmental impact, and are focused and publicly committed to long-term targets Company was ranked sixth on the Singapore
on sustainable management and efficient in terms of reducing our carbon intensity, Governance and Transparency Index 2020.
use of natural resources. as well as waste and water use. Supply Chain The Group recognises the importance The Group did not experience any major
& Responsible of supply chain risk management and supply chain disruptions during the pandemic,
We aim to reduce waste generation Keppel Bay Tower, where Keppel Corporation Procurement sustainable procurement in building in part due to the supplier diversification
through resource efficiency, recycling is headquartered, was certified by the operational resilience. programmes in place.
and reuse of natural resources. Building and Construction Authority (BCA)
as Singapore’s first Green Mark Platinum We are committed to building a resilient All our suppliers are qualified in accordance
(Zero Energy) commercial building. and diversified supply chain, and we work with our requisition and purchasing policies,
closely with our suppliers to make a positive screened based on ESG criteria, and are
Since the end of 2018, Keppel’s corporate impact on their sustainability performance. expected to sign and abide by the Keppel
headquarters in Singapore has been powered Supplier Code of Conduct.
by renewable energy. We are also acquiring
carbon credits to offset Scope 3 emissions Product Quality We exercise due care and diligence in the We consider proper design, handling, storage
from business travel and employee commuting, & Safety design, construction and operation of our and disposal of materials starting from the
thus allowing our corporate office to achieve products and services to ensure that they planning stage of our projects. At the project
carbon neutrality for the whole of 2020. do not pose hazards to customers. execution stage, we carry out project reviews
and quality assurance programmes.
Keppel achieved an A- in CDP’s benchmark
assessment on climate change, and a B- in We will continue to engage our customers
the assessment on water security. for continuous service improvements.
Sustainability Report 2020 Keppel Corporation LimitedGROUP OVERVIEW
20 SUSTAINABLE DEVELOPMENT GOALS 21
STRATEGIC PILLARS MATERIAL ISSUES SDGs APPROACH HIGHLIGHTS STRATEGIC PILLARS MATERIAL ISSUES SDGs APPROACH HIGHLIGHTS
People and Occupational Providing a safe and healthy working Keppel’s first priority in our response to People and Labour Practices, Our businesses spark economic growth, Keppel is committed to nurturing and developing
Safety & Health environment for all stakeholders is the COVID-19 pandemic was to safeguard Talent productivity and jobs. Our hiring policies our employees. As part of the Group’s succession
Community fundamental to our commitment to the health and safety of our employees, Community Management & ensure equal employment opportunities planning and talent development, we announced
conducting business responsibly. customers and stakeholders. Human Rights for all, and we are committed to investing leadership renewal in a few key business units,
in nurturing our human capital. effective on 15 February 2021.
We are also strong advocates for safety Following the start of the pandemic, the Group
and health in the broader community, and rolled out a series of measures, including We uphold and respect the fundamental We continue to actively engage staff, despite
champion national and industry initiatives more frequent cleaning of office facilities and principles set out in the UN Universal COVID-19 and work-from-home arrangements.
to raise standards and drive innovation temperature screening, as well as implementing Declaration of Human Rights and the We achieved an Employee Engagement Score
in these aspects. split teams, alternative work sites, safe distancing International Labour Organisation’s of 87% in 2020, which is higher than Mercer’s
and working from home where practical. Declaration on Fundamental Principles global average of 80%.
and Rights at Work. Our stance on human
In addition, across the Group’s business units, rights is articulated in the Keppel Group IT collaborative tools and platforms are used to
pandemic representatives have been identified Human Rights Policy while our stance on facilitate telecommuting, and virtual townhalls
and trained in the protocols and procedures diversity and inclusion is articulated in and other staff engagement initiatives were
to handle confirmed and suspected cases our corporate statement on diversity and launched to facilitate communication and ensure
of COVID-19. inclusion. Both statements are publicly that employees’ needs were addressed despite
available online. COVID-19. These included team building activities,
From April to June 2020, four COVID-19 mental wellness talks and virtual fitness classes,
clusters were announced by Singapore’s as well as medical teleconsultation services.
Ministry of Health (MOH) at Keppel Shipyard
and at the two dormitories operated by An employee assistance programme was
Keppel Housing. We worked closely with also rolled out to provide mental health support
the authorities to minimise the spread of the for employees and their dependents whereby
coronavirus, including assisting with contact employees can tap on the services of licensed
tracing, as well as thoroughly deep cleaning counsellors from the Singapore Counselling
and disinfecting both workplaces and Centre for counselling sessions, if such services
dormitories. As no more new cases were are needed.
linked to these clusters, the clusters were
progressively closed. All four clusters were Community Through collaboration with our stakeholders, Since the start of the COVID-19 pandemic, Keppel
closed by MOH by August 2020. The two Development we mobilise and share knowledge, expertise has committed over $5 million to provide support
dormitories which were gazetted as isolation and technology, as well as financial and to communities affected by the pandemic
areas in April 2020 were also de-gazetted by human resources to support the achievement in Singapore and overseas. This includes a
August 2020 as the situation improved. of the SDGs. $4.2 million package to support vulnerable
communities, including lower income households
The workforce at Keppel O&M’s yards We encourage and promote effective public, in 1- and 2-room HDB flats who were given
in Singapore was reduced from 24,000 in public-private and civil society partnerships rebates through M1, Keppel Electric and City Gas.
early-March 2020 to around 1,200 for through the sponsorship and support of Assistance was also provided to frontline staff
much of the second quarter of 2020 to thought leadership and dialogue platforms. and other communities affected by COVID-19.
minimise transmission risk at the workplace. Recognising the challenging environment faced
The workforce progressively increased by many Small and Medium Enterprises (SMEs)
over time, and reached about 19,500 by in Singapore, Keppel also improved payment
end-2020, with safe management measures terms to SMEs to help improve their cashflow
in place. over a six-month period.
As work resumed at Keppel O&M’s yards, Beyond supporting those affected by COVID-19,
we continued to implement robust safe Keppel also made a $2 million donation towards
management measures to ensure the health a new National Kidney Foundation dialysis
and safety of our workforce, including migrant centre at Yishun Community Hospital, which
workers. Such measures include dividing commenced operations in November 2020.
the yards into separate zones to further
Despite the restrictions imposed by COVID-19,
increase segregation and reduce the risk
Keppel Volunteers achieved over 10,000 hours
of transmissions. Shift work arrangements
of community work in 2020.
were also put in place to reduce the worker
density at the yard. We are also working
In 2020, the Group invested $9.6 million1 in
closely with the Singapore authorities to
social investment spending.
conduct rostered swabbing of the workers.
Keppel Care Foundation, the Group’s
Beyond Keppel O&M, various safe management philanthropic arm, has disbursed over
measures are also being implemented at $47 million since its launch in 2012.
our different worksites, plants and projects
around the world, in compliance with the 1 Includes voluntary contributions from the Keppel Group’s directors, senior management and staff, to support COVID-19 relief efforts, with matching contributions from
relevant regulations, to prevent the spread Keppel Corporation.
of the virus.
Keppel clinched 21 awards at the Workplace
Senior management and union representatives of Keppel Offshore & Marine distributed care packs to frontline staff Safety and Health Awards 2020, which is the
and migrant workers. highest number of awards won by a single
organisation for the year.
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