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Sindicatum Sustainable Resources Sustainability Report 2015

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Sindicatum Sustainable Resources Sustainability Report 2015 Sindicatum Sustainable Resources Sustainability Report 2015 Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 1 From the CEO Assaad Razzouk Chief Executive Officer To our stakeholders: In February 2015 I started my TEDx talk ‘the Climate Change Movement has failed’ by citing Albert Einstein: “The definition of insanity is doing the same thing over and over again and expecting different results” 1 Of course that is not the correct definition of insanity nor is it something that I usually indorse, however the idea of promoting the Ten Principles of the United Nations Global Compact and incorporating them into business models worldwide is something we should strive for until we achieve the desired result: “By committing to sustainability, business can take shared responsibility for achieving a better world.” 2 I am pleased therefore to confirm that Sindicatum Sustainable Resources Pte. Limited pledges its ongoing support to the United Global Compact initiative in the areas of Human Rights, Labour, Environment and Anti-Corruption. In this, our second annual Communication on Progress report, we will aim to explain how we have developed and how we are trying to incorporate the principles into our operation. We also commit to share this information with our stakeholders using our primary channels of communication which includes our website, intranet and newsletters. Yours sincerely, Assaad Razzouk Chief Executive Officer 1 Albert Einstein, http://www.quotationspage.com/quote/26032.html 2 United Nations Global Compact, https://www.unglobalcompact.org/what-is-gc/mission Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 2 2015 at a glance... Global Business Excellence Responsible Business Awards 2015 Awards 2015 “SME Category” “Outstanding Commodity Business Awards 2015 “Excellence in emission Green Initiative” markets” 3.2 Million tCO2e 340 GWh Reduced Clean electricity generated Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 3 Training & Education 35 Internships and Scholarships 35 From the CEO 2 Diversity and Equal Opportunities 36 2015 at a glance... 3 Environmental Performance 37 About Us 5 Energy Consumption and Management Our Mission 6 38 Our Approach to Sustainability 7 Reduction in Energy Consumption 39 Sustainable investing 7 Power Generation from Sindicatum’s Sustainability is integral to our business 8 Projects 39 Sustainable resources are vital to a Carbon footprint – Emissions Aspect 39 sustainable economy 9 Reduction in GHG Emissions 42 Organizational Structure 10 Emission Reductions from our Green Corporate Governance 12 Projects 43 Risk Management 15 Economic Performance 44 Value Creation 17 Significant indirect economic impacts 44 Sustainability Strategy and Reporting Awards and Accolades – 2015 47 Approach 19 2nd Communication on Progress 19 Stakeholder Groups 21 Identifying Stakeholders 21 Sindicatum’s Stakeholders 22 Global Outreach 23 Engagement and communication with stakeholders 24 Stakeholder communication process 24 Social Performance 25 Labour Practices, Human Rights & Decent work 27 HR Policies & Practices 28 Performance Review and Employee engagement 28 2015 Performance 29 2016 Targets 29 Health & Safety 31 Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 4 About Us Renewable Energy Sindicatum Renewable Energy Company Sindicatum Sustainable Resources Pte. Pte. Ltd (Singapore) (“SREC”) develops, Limited (“Sindicatum”) is a developer, owns and operates renewable energy owner and operator of clean energy projects in South and Southeast Asia. At projects worldwide and a producer of the core of SREC’s track record is the sustainable products from natural proven ability to identify, develop, invest, resources and waste. Founded in 2005, finance and operate small-scale Sindicatum provides a one stop solution, renewable energy projects in its target developing, operating and financing markets. projects that produce clean energy and sustainable resources (biogas, sustainable A key feature of each of its projects is a biomass, water and physical secure supply of fuel which ensures commodities) whilst reducing greenhouse projects are not constrained in their ability gases. to generate power or exposed to fuel price risk. A global footprint across four of the largest renewable energy markets (i.e. the Resource Efficiency US, China, India and Southeast Asia) Sindicatum’s projects in this category aim allows Sindicatum to be close to the to maximize the value realized from sources of supply of natural resources and natural resources so that natural capital waste as well as to the largest population depletion can be minimized. Efficient centres in the world with rapidly rising utilization of natural capital is a pre- demand for energy. In addition, this requisite for both a functioning global footprint allows an exposure to local and society and the transition to an economy global compliance and voluntary which functions within environmental environmental markets and therefore the limits. ability to benefit from different outcomes in an evolving regulatory landscape. This concept applies equally to both the elements of the planet’s natural capital At present, Sindicatum is headquartered 3 which are renewable – such as timber or in Singapore and has offices in Bangkok fish stocks – and those which are non (Thailand), Beijing & Taiyuan (China), renewable, at least on an Jakarta (Indonesia), New Delhi (India), anthropological time scale, such as fossil London (UK) and Manila (Philippines). fuels. Sindicatum’s business is organised in two divisions, Renewable Energy and Resource Efficiency. 3 http://www.sindicatum.com/ Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 5 Corporate Vision To be a publicly-listed developer, owner and operator of thousands of MW of distributed, profitable clean energy projects worldwide. Our Mission Environmental standards, introduce new Sindicatum’s portfolio of green projects technologies and provide jobs and skills has a tremendous beneficial impact on transfer to local communities. the environment. These projects implement the highest Health, Safety & Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 6 Our Approach to Sustainability Sustainability lies at the heart of our business. We undertake our work because we believe in the strength of our company, our business and in the importance of what we do in a broader sense. As a result we are highly motivated to achieve our goals. Sustainable Investing Sustainability in our Business Sustainable Economy Sustainable investing increasing demand for resources) will The need to work within environmental continue to strain natural resources and social limits in an increasingly worldwide. Our investment thesis is based resource-constrained world is crucial to on the premise that such macro-trends will our investment approach and to our have an important influence on the ability to meet the expectations of our pricing of increasingly scarce resources stakeholders – we believe it has a direct such as energy, water, agricultural link to our long-term profitable resources and clean air. performance and sustainability as recognized in our Investment Approval Consequently, our aim is to produce long Process. term supplies of these sustainable products as well as related environmental The theme of “resource scarcity” is central commodities. to our strategy. We believe that, globally, economic development (and thus Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 7 Sustainability is integral to our run”. We aim to ensure people feel they business and their contributions are appreciated and that a proper balance between work We recognize that all of our investments and their life outside Sindicatum is depend on our relationships with a wide maintained. range of stakeholders and, in particular, A core feature of our sustainability the local communities where our projects projects is the mitigation of carbon are undertaken. Our business model emissions. Our projects, however, have therefore aims to meet the highest more than just a beneficial impact on the standards of ethical investing, environment. They also ensure governance and sustainability with a international standards of health and strong emphasis on health and safety. safety, introduce new technologies, and provide skills transfer and training while We also consider sustainability to be propagating the importance of the critical to the management of our most sustainability message on national and crucial asset – our staff. Our aim is to international levels. promote a working environment where people feel they are “in it for the long- This approach helps safeguard our future. Sindicatum Sustainable Resources Sustainability Report | Our Journey | 2015 8 Sustainable resources are vital to a sustainable economy the case of fossil fuels, create global Since the industrial revolution, natural environmental risk through climate capital has been gradually depleting and change. The traditional economic model commodities from aquatic life to forests of resource utilisation is a linear process by have become increasingly scarce. What’s which natural capital is exploited, more, such commodities are often creating waste, pollution and produced from unsustainable fossil environmental degradation: sources, which have a finite life, and in Traditional Economic Model Natural Capital Ecosystem Goods and Services Consumption Waste,
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