Embracing a sustainable supply chain
Sustainability is integral to our value chain. Supplier engagement on sustainable procurement generates benefits not only for our organisation, but also brings value to society, the economy, and the natural environment. We continue to reduce our carbon footprint in our businesses and have started identifying Scope 3 emissions resulting from assets not owned or controlled by our organisation. Effective sustainable procurement future-proofs our long-term objectives by enhancing our corporate reputation, lowering risk, reducing cost, and growing revenue. We uphold business ethics by supporting business opportunities and building the capability of our local and international suppliers.
Find out how we’re embracing a sustainable supply chain at MISC Group.
A more responsible supply chain
Our suppliers contribute significantly to our sustainable development efforts. We prioritize understanding and managing their operations, supply chains, and their impact on the environment and community.
On our sustainability journey, we aim to align our supply chain's ESG performance with our standards. Compliance with these standards is expected from our first-tier suppliers, who are encouraged to demand compliance from their own suppliers. This creates a cascade of sustainable practices, promoting a circular and low-carbon economy across the supply network.
Promoting responsible supply chain through circular economy practices
Promoting a responsible supply chain through Circular Economy practices is crucial for building a sustainable and ethical business ecosystem. By embracing the principles of the Circular Economy, businesses can minimize their environmental footprint, support fair labor practices, and contribute to the long-term well-being of communities.
- To drive sustainable practices with our suppliers
- Implement ESG Supply Chain assurance program emphasising sustainable sourcing, circular economy, health and safety, and business ethics compliance
- Seek collaboration / partnership opportunities on pollution prevention and decarbonisation of our operations
- Promote Circular Economy across value chain
Our contribution to UNSDG
- Promote sustainable economic growth and decent work for all by ensuring labour rights and advocate for safe and secure working environments for all
- Foster a strong governance and business ethics culture against corruption and modern slavery, and promote fair practices
Code of business conduct
Our Code of Business Conduct for Third Parties provides additional clarity to our suppliers regarding our expectations in the following areas:
Suppliers must comply with applicable environmental laws and regulations and conduct business with respect and care for the environment, including utilising energy and natural resources efficiently and managing waste, emissions, and discharges responsibly. We want to work with our supply chain partners to achieve our low-carbon and circular economy goals.
We conduct business in line with the human rights philosophy expressed in the Universal Declaration of Human Rights, the International Labour Organisation Declaration on Fundamental Principles and Rights at Work, and health and safety as well as the United Nations Guiding Principles on Business and Human Rights. We expect suppliers and contractors working on our behalf to be guided by these principles.
Our contracts require suppliers’ performance to be guided by the principles and standards outlined in the Code of Business Conduct and their own policies on ethics and conduct.
We engage with suppliers and contractors on aspects of sustainable Performance development through quarterly reviews, Supplier Relationship Management, supplier sustainability engagement sessions, and supplier audits.
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.