Foreword by President/Group CEO
In today’s environment, business sustainability issues have become increasingly challenging. From the introduction of a slew of legislation to curb environmental emissions, to the need to cultivate and optimise finite resources, to ensuring higher levels of transparency in business dealings amidst an increasingly competitive playing field, companies are having to implement new measures to future-proof themselves and ensure sustainable growth.
I am delighted to present MISC Berhad’s Sustainability Disclosures this year which underlines the Group’s commitment to manage our business in a responsible and sustainable manner. Therefore, we have embarked upon an extensive review of our sustainability agenda. We believe that by improving our understanding of sustainability and appreciating its importance to our business, we can embed sustainability even more deeply in our strategy and operations.
Sustainability is an integral component in MISC’s operations, from the way we conduct our business, manage our employees, reduce impact on the environment, deliver sustainable returns to our investors and shareholders, strive to exceed the expectations of our customers, as well as the way we create positive impact for the local communities.
As our business expands, long-term sustainability issues will pose a challenge to our business in the energy related maritime solutions and services industry. With approximately 90% of goods traded internationally being transported by sea, the industry has a significant economic impact and an associated social and environmental footprint, accounting for nearly 3% of global carbon dioxide emissions.
Based on our sustainability strategic pillars' key initiatives, we have alignment with 11 UNSDG as follows:
Our Sustainability Pillars
At MISC, the strategy is to focus on providing the best service and experience to all our customers – through stringent health and safety standards, operational responsiveness, and tailored solutions in order to exceed customer expectations.
We strive to constantly create value and deliver sustainable returns to our shareholders and investors, through the strengthening of the Group’s core businesses and capitalising on growth opportunities in the future.
Sound internal controls are established to complement business policies and uphold good governance practices. This is fundamental towards not only winning the confidence of investors, but are also prerequisites to achieving the Company’s objectives of enhancing and protecting long-term shareholder value.
In line with our mission to promote individual and team excellence, we are committed towards improving employee competency and skill levels, as well developing leadership capabilities so that our employees are able to successfully tackle business challenges head on.
Our approach towards mitigating our environmental impact has been captured in the Group’s Mission, one of which is ‘to care for the environment and operate responsibly’. Operating in a responsible manner and minimising impact on the environment is key to the way business is managed at MISC.
In support of our mission ‘to create a positive difference to the lives of communities’, our primary focus in on value creation through the provision of education and career opportunities through the Group’s maritime academy, ALAM, and also through the various community outreach programmes carried out.
Performance Data & Disclosures
Policies & Guidelines
Our Sustainability disclosures have been prepared in accordance with the Global Reporting Initiative (GRI) Standard which encompasses the Environment, Social and Governance aspects and focuses on material issues for MISC and its business.