PSA Group launches first sustainability report

Green Building Architecture

PSA International has announced the launch of its inaugural Sustainability Report 2020 titled “Green Horizons: Enabling a Better World Through Sustainable Port and Supply Chain Solutions”.

The Group said that the report reflects its commitment to build a more resilient and sustainable port and supply chain ecosystem, as well as drive accountability and continual improvement in its sustainability performance.

The Group aims to reduce its absolute carbon emissions by 505 by 2030 (against a 2019 baseline year) and progressively achieve net zero carbon emissions by 2050. Its target covers Scope 1 and Scope 2 emissions as classified by the Greenhouse Gas (GHG) Protocol standard.

PSA has made investments and spearheaded innovations to bring about rapid decarbonisation of its operations.

Several significant strides have already been made, including progressive electrification of its equipment and test-bedding of alternative energy vectors like hydrogen.

Tuas Port in Singapore will also showcase the latest climate technologies and set the standard for sustainable port operations, the Group said.

Anchoring these efforts is the Group’s Sustainability Strategy Framework presented in the Sustainability Report – a framework derived from a rigorous assessment of the Environmental, Social and Governance (ESG) factors that are material to PSA’s business and stakeholders. The framework focuses on the strategic priorities of: Taking Climate Action, Transforming

Supply Chains, and Nurturing A Future-Ready Workforce, underpinned by a commitment to steward responsible business practices across the Group consistently and coherently.

PSA’s Sustainability Report aligns to international reporting frameworks, including Global Reporting Initiative (GRI) Standards and the Task Force on Climate-related Financial Disclosures (TCFD), to ensure robust and comprehensive reporting. To accelerate progress across the most material ESG factors facing its business, PSA has set ambitious targets and will continue its pursuit of innovations and partnerships to achieve them. The Report highlights these commitments and PSA will track and chart its sustainability progress.

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