76 YINSON HOLDINGS BERHAD SUSTAINABILITY REVIEW Scan for more information on our GHG methodology, verification and assurance. Climate-related governance Yinson maintains a robust governance framework to facilitate responsible oversight, evaluation and management of climaterelated matters as well as associated risks and opportunities. Climate-related matters receive Board-level oversight and guidance, while the Management & Sustainability Committee (”MSC“) is responsible for managing risks within tolerable levels with specific and material metrics and targets. Sustainability governance, pg 18. Yinson’s Climate Report 2024 consolidates our Climate Roadmap and Climate Report into a single document which aligns to Task Force on Climate-related Financial Disclosures (”TCFD“), providing a comprehensive overview of our revised climate strategy climate action progress and climate risks and opportunities management. Yinson regularly review our climate disclosures and providing updates every two years or sooner in the event of material changes including shifts in business operations or external environment. As global economies shift their energy systems, governments are prioritising energy self-sufficiency, security and sustainability, boosting investment in sustainable infrastructure. Yinson remains transition-focused as a Group. We consciously adjust various levers to balance the speed of our transition with global market factors such as inflation, supply chain constraints, and capital cost for growth. Yinson’s climate strategy Yinson is committed to climate strategies and actions that support our Climate Goals: Reduce Group-wide Scope 1 and 2 GHG emissions to the lowest possible levels while compensating for any residual emissions via carbon offsets to achieve carbon neutrality by 2030. • Measure and verify GHG emissions. • Deploy emission reduction measures where reasonably practicable. • Use high-quality offsets to balance residual GHG emissions by 2030. Carbon neutral by 2030 Reduce Group-wide Scope 1, 2, and 3 GHG emissions to the lowest possible levels while compensating for and removing any residual emissions to achieve net zero by 2050. • Invest in nature-based and technology-based carbon removal projects. • Actively invest in the carbon value chain and low-carbon energy solutions. Net zero by 2050 Capital allocation • Aim to allocate 30% of total equity investment to non-oil-based FPSO activities. • Adopt the Internal Carbon Pricing framework to strategically allocate funding to green projects that reduce GHG emissions and foster the clean energy transition. Partnerships • Build strong partnerships with like-minded partners across all spheres to accelerate the realisation of a just energy transition. • Support national and regional efforts to facilitate an inclusive energy transition. Innovation • Innovation as a strategic imperative to drive growth. • Drive innovative solutions development for long-term value creation for our stakeholders. Investing in the energy transition as Yinson’s Scope 3 emissions. Yinson proactively monitors evolving disclosure standards to ensure our approach remains aligned with industry best practices.
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