Our approach to managing our negative impacts on value chain workers and our processes for identifying what is needed and appropriate to respond to these impacts emphasise responsible sourcing, the promotion of labour rights, and address environmental and social impacts and risks. To achieve this, we conduct regular assessments, risk-based audits, and stakeholder engagements, enabling us to monitor and ensure compliance across the supply chain. Our approach to addressing concerns and grievances within our value chain is built on the principles of transparency, trust, and effective remediation that is proportionate to the grievance that has occurred. We continuously work to strengthen our processes for providing or contributing to appropriate remediation to value chain workers who have been harmed, where we have identified that we have caused or contributed to a negative impact.

During the year, we have also taken steps to address critical work-related rights impacts, including debt bondage and forced labour. For instance, we are working with industry peers through the Worker Welfare Group, a partnership focused on labour rights and worker welfare requirements within the marine construction sector. The Worker Welfare Group has developed a set of principles and guidelines to support, in the first instance, the Singapore marine construction sector, enabling it to meet international standards for worker rights and worker welfare, particularly focusing on responsible recruitment, improved accommodation, better transport, and improved access to grievance mechanisms. We have engaged with key stakeholders to advocate for systemic improvements and are also working with local organisations to facilitate access to remedy for workers. Going forward, we aim to build on our initial learnings from the Worker Welfare Group and implement the principles for fair treatment of migrant workers throughout 2025. This will further strengthen our dedication to labour rights and worker welfare.

We work closely with key suppliers to monitor issues raised and addressed while also assessing the effectiveness of these grievance channels, ensuring they are consistently available and trustworthy resources for value chain workers. However, currently we do not have a formal process in place to assess the effectiveness of our mechanisms and communication channels specifically for value chain workers. We are actively working to establish a global methodology for aggregating feedback and grievance management, which will also enable us to systematically track and monitor the effectiveness of our efforts. Specifically, we aim to implement a standardised process for receiving, addressing, resolving, and providing remedies to value chain workers where necessary. We plan to pilot a grievance reporting channel for a select supplier to collect workers’ grievances via a digital solution by 2025.

We work to ensure the health, safety, and well-being of all workers in our supply chains while actively mitigating negative impacts and risks related to working conditions and labour rights. We have identified several key areas of concern, including excessive working hours, injuries, fatalities, debt bondage, withholding of passports, and forced labour. Our actions are focused on both preventing and addressing these negative impacts and risks throughout our value chain. In 2024, we took steps to address work-related rights and improve working conditions within our supply chains to help prevent and mitigate our negative impacts and risks. We have provided human rights training for our Marine Inspection team, emphasising the importance of appropriate working conditions and addressing matters such as bullying, discrimination, harassment, and excessive hours. These efforts aim to guarantee that workers are not subjected to undue stress, and that violations are promptly detected and rectified. We aim to expand this initiative by 2025 to include QHSE site inspections. In cases of actual material impacts, such as workplace injuries, we work closely with the affected individuals to ensure access to medical care, rehabilitation, and financial support. Lessons learnt from these incidents inform ongoing improvements to our safety protocols.

During the year, we have also taken steps to address critical work-related rights impacts, including debt bondage and forced labour. For instance, we are working with industry peers through the Worker Welfare Group, a partnership focused on labour rights and worker welfare requirements within the marine construction sector. The Worker Welfare Group has developed a set of principles and guidelines to support, in the first instance, the Singapore marine construction sector, enabling it to meet international standards for worker rights and worker welfare, particularly focusing on responsible recruitment, improved accommodation, better transport, and improved access to grievance mechanisms. We have engaged with key stakeholders to advocate for systemic improvements and are also working with local organisations to facilitate access to remedy for workers. Going forward, we aim to build on our initial learnings from the Worker Welfare Group and implement the principles for fair treatment of migrant workers throughout 2025. This will further strengthen our dedication to labour rights and worker welfare.

We ensure the respect of human rights, including labour rights, across our value chain by conducting regular supplier assessments. These assessments evaluate labour conditions and the implementation of management systems by our suppliers to safeguard workers’ rights. Our engagement is designed to detect, prevent, and address impacts and risks related to human rights violations, with a focus on ensuring fair treatment, safe working environments, and compliance with international labour standards. We engage with value chain workers during our assessments to gather insights into their working conditions. We also collaborate with suppliers to enhance transparency and accountability, ensuring that workers’ voices are heard, and their concerns are addressed. Through our policies, we commit to provide and enable remedies for potential human rights impacts by implementing accessible grievance mechanisms. These allow value chain workers to report concerns or violations, ensuring these channels are user-friendly, confidential, and culturally appropriate. Upon receiving a grievance, we must promptly investigate the issue and engage with the affected parties to gather information and consider their perspectives. If human rights impacts are identified, we strive to take immediate action and provide appropriate remedies, which may include compensation, restoration of rights, or preventive measures. We also invest in training of our employees and business partners to raise awareness of human rights issues, e.g. related to bullying and discrimination.

Policy monitoring is generally conducted through external risk ratings, controversy reports, and adherence to the minimum safeguards of the EU taxonomy for sustainable activities, which are also subject to limited assurance by our external auditors. We are currently not able to fully assess our full value chain for instances of non-respect for these principles, besides the indications from our external risk ratings and controversy reports, which have not identified any material incidents. We aim to maintain transparency by documenting any reported cases that come to our attention related to human rights impacts involving workers in the value chain, whether in our operations or within our upstream and downstream value chain.

To measure the effectiveness of our engagements, we assess outcomes of our assessments on an ongoing basis, including any agreements or remedial actions implemented as a result. We continuously work to improve our approach and, ultimately, value chain worker conditions. The senior operational responsibility for overseeing these engagements rests with our Chief Procurement Officer, ensuring that results are integrated into our broader due diligence processes. In 2024, we have improved the evaluation of our due diligence process and are working on optimising it alongside relevant internal teams, such as our QHSE team. In 2025, we aim to implement the new process in the organisation as well as mature the monitoring of contracted suppliers.

Currently, we have not set time-bound and outcome-oriented targets that meet the criteria for effectively reducing negative impacts, advancing positive impacts, or managing material risks and opportunities related to value chain workers. However, we recognise the importance of establishing robust targets to drive meaningful progress in these areas. We are working to establish a clear process that will involve engaging directly with value chain workers, their representatives, or credible proxies. In the meantime, we are focused on gathering data and assessing current practices to ensure that future targets are effective and aligned with stakeholder needs. We are not yet fully able to monitor how effectively our policies and actions address our material sustainability-related impacts and risks for workers in the value chain.

Currently, we have not set time-bound and outcome-oriented targets that meet the criteria for effectively reducing negative impacts, advancing positive impacts, or managing material risks and opportunities related to value chain workers. However, we recognise the importance of establishing robust targets to drive meaningful progress in these areas. We are working to establish a clear process that will involve engaging directly with value chain workers, their representatives, or credible proxies. In the meantime, we are focused on gathering data and assessing current practices to ensure that future targets are effective and aligned with stakeholder needs. We are not yet fully able to monitor how effectively our policies and actions address our material sustainability-related impacts and risks for workers in the value chain.