Sustainability Report • We have adopted the Global Product Strategy (GPS) from International Council of Chemical Associations on the evaluation of Chemical Risk Assessment since 2018 and established a Product Safety Summary as well as Product Safe Handling Guide on high-risk products. • In our effort to benchmark our sustainability program against international standards, we are gradually adopting the Taskforce for Climate-related Financial Reporting (“TCFD”) framework and have included TCFD disclosures in this report. • We have expanded our Scope 3 emissions analysis to include business travel, upstream transportation and distribution, waste generated in our operation as well as employee commuting. • In compliance with SGX Listing Rules, an internal auditor was appointed to conduct a review of our Sustainability reporting process. Sustainability-linked Financing & Green Financing Partnering us in our Sustainability journey are United Overseas Bank, Overseas Chinese Banking Corporation and Hong Kong & Shanghai Banking Corporation who have provided us with Sustainability-linked financing. These sustainability-linked financing are key steps in our sustainability journey and a clear demonstration of our commitment to be a responsible member of the community, together with our customers, suppliers, bankers as well as our other stakeholders. Governance • In the Singapore Governance and Transparency Index (SGTI) 2024, we attained a score of 76 which is above the overall mean score of 69.3. Social • We continue to provide equal opportunities to our employees by embracing diversity in terms of gender, age and nationality. • As part of our effort to make our workplace a more supportive and conducive space for our employees, we have launched our Mental Health & Well-being program. Looking ahead, we will be increasing our focus in the following areas: • conduct safety risk assessment to enhance the safety level of our operation • we plan to extend our RSPO membership to all entities in order to promote the use of sustainable oil palm and its derivative products. • continue to uphold good governance standards • continue to work across our value chain to incorporate sustainability into our business strategy, • creating greater awareness of sustainability issues and good sustainability practices in our daily operation, • striving and working together with major stakeholders in the chemical industry in adopting higher standards of Sustainability practices, • maintain a business continuity management program that is robust enough to face any future disruptions. Together, we shall strive to make a lasting, positive difference in people’s lives and build a sustainable world for the present and future generations. Managing Director Sidney Chew Choon Tee On behalf of Megachem’s Board of Directors 67 ANNUAL REPORT 2024
RkJQdWJsaXNoZXIy NTkwNzg=