Our long-term vision for a better and more sustainable world
At MISC, our sustainability vision is to deliver long-term shareholder value by operating safely, sustainably, and responsibly to achieve positive impacts for the environment and society. Sustainability touches every aspect of our business and value chain.
As a world-leading provider of international energy-related maritime solutions and services, we see opportunities for creating long-term value while minimising externality trade-offs associated with our operations and value chain. Our sustainability agenda addresses the issues that matter most to our business and our stakeholders.
Discover how we’re building a better and more sustainable world through our business operation.
Our sustainability strategy
MISC developed its Sustainability Strategy 2021-2025 through six employee workshops. These sessions included employees from different business units and subsidiaries, representing diverse perspectives. Together, we identified the ESG factors relevant to MISC and incorporated our strategic priorities. Our goal is to contribute to the global sustainability agenda.
Our strategy contribution to UNSDG
MISC has put in place focused initiatives and programs that support the following 11 UNSDGs.
Prioritising what matters most
We prioritise sustainability throughout our business and value chain as a global provider of energy-related maritime solutions. In 2019, we conducted a thorough evaluation to identify the most important environmental, social, and governance aspects for our business. This assessment followed international standards and included research on sustainability trends and industry benchmarks.
Engaging Our Stakeholders
We are committed to contributing towards elevating the maritime industry and making a positive impact on our stakeholders. This commitment is supported by our stakeholder engagement strategy, focusing on creating shared values through awareness, dialogue, and collaboration. At MISC, stakeholder engagement is integrated into every step of our value creation process.
Stakeholder engagement principles
- COLLABORATE with strategic partners
- PROMOTE sustainability awareness
- COMMUNICATE effectively through identified platforms
- FEEDBACK sought regularly from stakeholders
- TRANSPARENCY through disclosures
Selecting material topics
We prioritise sustainability to create value and minimize negative impacts while addressing stakeholder concerns.
Conduct desktop research from key industry issues, peers, and leaders to identify a broad list of issues relevant to MISC.
Categorised the universe of issues into the six capitals:
- Social and Relationship
Engage internal and external stakeholders to better understand and prioritise the matters by selecting and scoring the top five material matters.
- Conducted 15 interview sessions with management, board members, customers, investors, and banks.
- Conducted employee focus group sessions from various divisions, business segments, and subsidiaries.
- Mapping MISC materiality matrix based on inputs from internal and external stakeholder engagement.
- Validation by Management Committee on the final materiality matrix.
MISC Group’s materiality matrix
We regularly review and validate our material topics through our sustainability governance mechanism. Based on feedback and industry trends, we refined our topics, adding health and safety, employee engagement, and natural resource use. The COVID-19 pandemic highlighted the urgency of addressing these areas. We will continue monitoring our material topics to stay relevant.
Sustainability disclosures and performances
Maintaining strong governance is essential for sustainable business. Governance is more than a set of written principles and practices; it is embedded in our stakeholder value creation commitment. We have introduced clear and effective sustainability governance structures throughout MISC. Supported by several performance standards and other controls, our governance procedures are applied to all aspects of MISC’s decision-making process.
View our sustainability report
Gain an in-depth understanding of how we are building a better and more sustainable world through our business operations. This Sustainability Report outlines our material environmental, social and governance (ESG) performance and our forward-looking commitments within the context of the maritime industry.