INTEGRATED ANNUAL REPORT 2024 120 121 SECTION 10: ANCHORING SUSTAINABILITY www.miscgroup.com MISC BERHAD SUSTAINABILITY STRATEGY AND ITS KEY PROGRESS IN 2024 Anchoring Sustainability • Talent Excellence • Community Investment • Talent development • Youth entrepreneurship education • Engaged workforce • CSR on education • Process safety • Health and Safety • Employee safety, health and well-being • Contractor safety • Financial Governance Framework (FRA/CFP) • Financial Growth Plans Financial Short to Medium Term • Energy efficiency • Collaboration on alternative fuel research and development • Transition to low-carbon fuel • Renewable energy mix Long Term • Transition to decarbonised fuel • Towards Decarbonisation • 4Rs – Refuse, Reduce, Reuse & Recycle • Ship recycling • Greater renewable resource utilisation • Promoting Circular Economy • Marine biodiversity conservation • Biodiversity Conservation Environment • Governance and Business Ethics • Robust Culture • Assurance • Cybersecurity • Sustainable Supply Chain Management • Assurance • Collaboration Governance Social Stakeholder Engagement KEY PROGRESS IN 2024 Sustainability Pillar Achievements FINANCIAL Financial • Revenue: RM13.2 billion • Operating Profit: RM2.6 billion • Cash Flows from Operating Activities: RM4.3 billion • FPSO Marechal Duque de Caxias received first oil on 30 October 2024 and Final Acceptance on 2 November 2024 • MISC signed an MoU with Aker Solutions, PETRONAS Carigali Sdn. Bhd. and Clean Energy Systems Inc for a pilot project ZEUS, an innovative energy solution that utilises advanced oxyfuel combustion with immediate CO₂ capture and storage • MISC signed long-term TCPs with QatarEnergy for three newbuild LNGCs • MISC signed long-term TCPs with PLL for 15 years from 2027 for two newbuild LNGCs • MISC entered into an agreement for the sale and purchase of shares with SBM Offshore to acquire the remaining 49% shares of the JV companies of FPSO Kikeh • MHB successfully secured a second offshore wind project to build an OSS HVDC platform under TenneT’s 2GW Programme, consisting of topside and jacket ENVIRONMENT Towards Decarbonisation • AET entered into TCPs with PTLCL for the world’s first two ammonia dual-fuel Aframaxes • AET’s LNG dual-fuel VLCCs, Eagle Veracruz and Eagle Ventura, were awarded Green Ship status as part of MPA’s Green Ship Programme at the Singapore Registry of Ships Forum 2024 • AET signed long-term in-charters for two newbuild LNG dual-fuel Aframaxes with shipowner Singfar Promoting Circular Economy • Conducted two Ship Recycling Yard audits • Recorded 3R rate of 99.7% of hazardous waste generated from shore operations • 10% reduction in plastic waste generated on vessels • 49% reduction in plastic waste generated by Offshore • 20% reduction in paper consumption on vessels • Recorded 3R rate of 9% of non-hazardous waste generated from shore operations Biodiversity Conversation • Received the Sustainable Ecosystem Silver Award at the ESG Positive Impact Awards 2023 by The Star for the HOTO programme • 36 coral reef sites surveyed in 2024 • 3 coral sites rehabilitated since 2020 • 63% turtle nest hatching success rate • 11,400 kg of trash collected (beach and underwater clean-up) since 2020 • 30 mooring buoys were installed since 2020 to significantly reduce the physical impact on the reef due to anchor deployment Anchoring Sustainability MATERIAL MATTER SDG MATERIAL MATTERS SDGs Climate Change Energy Management Financial Performance MATERIAL MATTER SDG Ocean Health MATERIAL MATTER SDG Waste Management
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