EMPOWER EVERY GENERATION
SUSTAINABILITY REPORT 2022
About this report
This is the eighth annual Group Sustainability Report (SR2022) by Singapore Telecommunications Limited (Singtel) for the financial year 1 April 2021 to 31 March 2022 (FY2022), and published on 30 June 2022. It covers the Group's strategies, initiatives and performance in relation to Environmental, Social and Governance (ESG) topics of our operations in Singapore, where Singtel is headquartered, and Optus, our wholly-owned subsidiary in Australia. All data, statistics and targets are in relation to the Group's operations in Singapore and Australia unless stated otherwise. Group-level figures are in Singapore dollars, using the exchange rate of A$1 to S$0.99722.
No restatements were made from the previous report except electricity and Scope 2-related figures for Singtel and Singtel Group in 2021 in the Environmental Performance Indicators (page 25-26). We however retained key methodologies on our stakeholder engagement and materiality to provide context on our ambitions and actions that have not changed since our strategic reset in 2021. During the year, we made investments in four IT and digital services companies in Australia. There were no significant changes to our supply chain.
This report captures the highlights and achievements of FY2022 and should be read together with theSingtel Annual Report 2022,Singtel SustainabilityandSR2022webpages, andOptus Sustainability Report, which contain our corporate sustainability information and additional annexes like the GRI Index and EYassurance statement, as well as our inaugural standaloneTCFD Report 2022.
GRI, SASB and TCFD
This report has been prepared to be in line with the updated GRI Universal Standards 2021. It complies with SGX Listing Rule 711 (A) and (B) and incorporates SGX's enhanced disclosures on climate-related information which was released in 2021 where applicable. It also contains our disclosures recommended by SASB based on the Telecommunications Services (Industry Standard, Version 2 18-10).
We endorsed the TCFD framework in 2017 and our TCFD Report 2022presents a detailed discussion of our approach to climate-related governance, strategy, risk management, metrics and targets.
External Assurance
We have engaged Ernst & Young LLP to independently assure a selection of our key ESG disclosures. The independent limited assurance statement (page 67-73) can be read here.
The assurance statement has details on material topics assured, assurance standards used and our procedures, methodologies and assumptions.
Feedback
We are fully committed to listening to our stakeholders and we welcome feedback on this report and any aspect of our sustainability performance. Please address all feedback to the Group Chief People and Sustainability Officer at sustainability@singtel.com.
Key Highlights FY2022 | 02 | ||
Message from Chairman and | |||
Group CEO | 03 | ||
Our Sustainability Approach | 05 | ||
Climate Change and Environment | |||
Climate action | 12 | ||
Product stewardship | 22 | ||
People and Future of Work | |||
Workforce safety and well-being | 28 | ||
Diversity, equity and inclusion | 32 | ||
Building a future-ready workforce | 34 | ||
Community Impact | |||
Bridging the digital divide | 41 | ||
Online safety and well-being | 43 | ||
Unlocking digital growth opportunities | 44 | ||
Equity and inclusion | 46 | ||
Sustainable Value Creation | |||
Responsible business practices | 49 | ||
Responsible supply chain management | 54 | ||
Customer experience | 56 | ||
Driving innovation | 56 | ||
KEY HIGHLIGHTS FY2022
Achieved | Piloted an internal carbon price | Completed nationwide | Achieved improvement | ||||||||||||||||||||||
in GHG emissions intensity of | |||||||||||||||||||||||||
at S$50 per tonne of | |||||||||||||||||||||||||
A- score | TCFD analysis for | ||||||||||||||||||||||||
0.035 tCO2e/TB | |||||||||||||||||||||||||
in CDP 2021 | CO2e on selected Singapore | Singapore and Australia | |||||||||||||||||||||||
energy-intensive investments | from 0.045 tCO2e/TB last year | ||||||||||||||||||||||||
APCO Award | Achieved 7.2% Scope 1 and 2 | ||||||||||||||||||||||||
for our Optus sustainable packaging | absolute GHG emissions reductions | ||||||||||||||||||||||||
A- | achievements and efforts in the | from last year through energy | |||||||||||||||||||||||
telecommunications sector for the | efficiency initiatives and purchase | ||||||||||||||||||||||||
5th consecutive year | of Renewable Energy Certificates | ||||||||||||||||||||||||
Recognised by the 2022 | Published | Launched iCare | Training investment of | ||||||||||||||||||||||
Bloomberg | our Singtel | programme to Singapore | S$19.2 million in | ||||||||||||||||||||||
Gender | Group | employees to raise | Singapore and Australia, | ||||||||||||||||||||||
Equality Index | Human Rights | greater awareness of the | with S$7.8 million | ||||||||||||||||||||||
importance of mental | |||||||||||||||||||||||||
for the 4th consecutive year | Statement | well-being | focused on future skills | ||||||||||||||||||||||
Community investment of | Singtel Group's Digital Enablement | |
programmes have supported | ||
S$33.4 million | ||
>740,000 | ||
in Singapore | ||
beneficiaries since 2015 | ||
Social Enterprise | and Australia | |
Champion | Singtel Touching Lives | Launched |
of the Year | ||
Fund has raised | GOMO Donate Your Data and | |
at the President's Challenge | >S$50 million | Optus Donate Your Device |
Social Enterprise Awards 2021 | since it was set up in 2002 | |
Completed and externally assured our | Launched our | |
5G standalone | ||
Scope 3 baseline assessment of all | ||
network, which offers | ||
15 categories indirect GHG emissions | ||
customers early access to the | ||
in accordance with the Greenhouse Gas Protocol | ||
most advanced 5G connectivity | ||
Successful completion of sustainability-linked financing:
Impact Community
Sustainable
S$750 million sustainability-linked loan in April 2021
Launched Singtel Group
Sustainability-Linked Bond Framework, the
first such framework for a telco in Asia Pacific
A$300 million
Optus sustainability-linked bond, the first telco in Australia to do so
Creation Value
Appendix
3 SUSTAINABILITY REPORT 2022
Message from Chairman and Group CEO
2021 was a year of transformation and continuous adaptation. While competitive pressures accelerated in our key markets of Singapore and Australia, COVID-19 made the operating and business environment all that more challenging. As lingering COVID risks remain, we are also seeing the Ukraine conflict impact the global economy, people, businesses and supply chains.
In these tumultuous times, our new corporate purpose, Empower Every Generation, has guided us as we move beyond the current disruption and reinvent ourselves for the 5G era. Introduced last October alongside a set of refreshed core values, it underpins our strategy and reflects our focus on harnessing technology to empower people and businesses and create a more sustainable digital future.
Since we embarked on a reset of our business priorities as well as purpose, we have doubled down on efforts to build our digital core, optimise capital use and unlock value from our assets. We further built on our 5G leadership to reinvigorate our consumer and enterprise businesses, which will place us at the front and centre of this hyper- connected world. Our strategic reset also elevates the importance of people and sustainability, ensuring no one gets left behind, and sustainability is integrated across our network infrastructure and operations. We want to create sustained, purpose- driven impact and value as we embark on our growth areas.
In this eighth Singtel Group Sustainability Report 2022, endorsed by the Singtel Board and Management, we highlight efforts taken as we embraced our new purpose and sustainability framework and executed our digital strategy, and take stock of our progress and achievements against our five-year sustainability 2025 targets.
Taking climate action
The Singtel Group continues to enhance and embed climate action and deliverables into our
business plans. We were the first telco in Asia Pacific to establish a sustainability-linked bond framework in October last year to further align our financing approach with our sustainability strategy. The framework outlines individual Key Performance Indicators (KPIs) and Sustainability Performance Targets (SPTs) that are core to our business, such as emissions reduction targets by 2025, which line up to our previously approved 2030 SBTi targets to achieve net-zero emissions by 2050. These KPIs are also aligned to our management's short and long- term incentive plans. Sustainability-linked financing, such as the A$300 million Optus sustainability- linked bond issued in November last year, provides investors with the opportunity to participate in our sustainability journey.
During the year, we also mobilised key business units including Networks, Property and Finance to further minimise our environmental footprint.
In February this year, we announced that we will be redeveloping the Comcentre building, our corporate headquarters since 1979. The building design and construction of this site will be guided by sustainability principles and an end-to-end carbon neutral development, in support of our vision to forge a greener, sustainable future.
Renewable energy is an area of focus for the Singtel Group, and we appointed a sub-committee within our Management Committee to oversee our renewable energy and decarbonisation strategy. During the year, we awarded a contract for onsite solar photovoltaic deployment at up to eight of our Singapore facilities. The sites, which will be operational by end-2022, will bring our renewable energy in Singapore to ~5 GWh per annum. Energy sources for our Australian operations will also be backed by 100% renewable energy by end- 2025. In addition, we retired 44 GWh of renewable energy certificates to lower our Scope 2 emissions across the Group, with more renewable plans in the pipeline to achieve our emissions targets.
SINGAPORE TELECOMMUNICATIONS LIMITED
SUSTAINABILITY REPORT 2022 | 4 |
Our Contents Report this About
To ensure the business continues to reduce emissions from our operations and factor in externalities such as carbon taxes, we piloted an internal carbon price at S$50 per tonne of carbon dioxide, which was applied to selected energy-intensive projects and business case analyses for our Singapore operations.
Climate risk assessment is an important part of our environmental strategy and the publication of the Group's inaugural Task Force on Climate-related Financial Disclosures (TCFD) report demonstrates our commitment to provide transparency to stakeholders on how we are managing climate risk and addressing the transition to net-zero within our business. Singtel is one of a handful of progressive Singapore companies to publish a TCFD report, which includes findings from our detailed study on the physical and transition risks from different climate change scenarios in both Singapore and Australia and their financial impact on our business. You can read the report here.
Community impact
Community impact is a key pillar of our sustainability framework, and we have built on our efforts to do more to support our communities.
In support of our customers' interest to engage in both social and environmental actions, we built on the success of Optus' unique Donate Your Data programme that enables our customers to provide vulnerable people with mobile data access. During the year, we introduced a new Donate Your Device programme that provides vulnerable segments in Australia with devices.
We also extended Donate Your Data to Singapore through our all-digital mobile brand GOMO. We launched this in March 2022 and engaged our GOMO customers to contribute their unused data to support digitally excluded seniors in Singapore, and will expand this to the rest of our Singtel mobile customers. Donate Your Data complements our Singtel Digital Silvers programme, where our staff volunteers teach seniors how to go online safely.
Supporting our people, creating sustainable value
The pandemic has accentuated the importance of employee well-being and staying resilient. Our priority is to help our people remain healthy, both physically and mentally, at work and home. We introduced blended ways of working (B-WoW) during the year
to allow more flexibility in work arrangements for our people, even in a post-pandemic world.
Our people are critical to Singtel's success, and we instil positive qualities and high ethical standards among them through our six refreshed core values. These values reflect our commitment to excellence, innovation and sustainability and serve as the foundation for how we operate our business as we harness the power of technology to enrich the lives of our customers and the broader community. We want our people to develop and grow with the company, advocating for our stakeholders as responsible corporate citizens and sustainability stewards.
Our first Singtel Group Human Rights Statement published in November 2021 reaffirms our commitment to upholding and protecting the human rights of all individuals through a culture of respect, trust and inclusion in our organisation and supply chains, and to doing no harm to any individual or community.
Keeping the momentum
The Singtel Group Sustainability Report 2022 is an opportune time to take stock of how far we have come. Our disclosures published in the report are testament to our good progress and achievements as we continue to be a responsible sustainability steward that positively impacts the diverse communities in the markets where we operate.
On behalf of the Singtel Board and Management, we thank you for your support.
Lee Theng Kiat | Yuen Kuan Moon |
Chairman | Group CEO |
Work of Future & People Environment & Change Climate Approach Sustainability
Impact Community
Creation Value Sustainable
Appendix
SINGAPORE TELECOMMUNICATIONS LIMITED
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SingTel - Singapore Telecommunications Limited published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 08:01:09 UTC.