Straits Inter Logistics Berhad (“Straits” or “the Group”) is proud to present its first Sustainability Statement for the financial year ended 31 December 2018 (“FYE 2018”) which builds on Economic, Environmental and Social (“EES”) achievements and goals.
As a responsible corporate citizen, we are mindful of our role in securing a sustainable future for Straits and the communities we interact with, in an era when climate change, water scarcity and public health are ever-increasing and threatening global issues.
We believe that our activities have the ability to impact lives and the communities we serve. It is important to note that the aim of ensuring sustainable development is to balance our EES needs.
We have evaluated our approach to sustainability and identified the following aspects as our key aspects of sustainability matters:-
Protecting the Environment & Green Initiatives
1. The Group adheres strictly to all government legislations and requirements that are relevant to environmental impact of our activities and operations. We have procedures in place to monitor, report and deploy mitigating actions on all matters related to environmental compliances.
Our other environmentally friendly measures include using Low Sulphur Marine Gas Oil in vessels to reduce emission of Sulphur Dioxide into the environment. We also monitor closely the fuel consumption by all our vessels and reduce wastage/leakage to ensure optimal use of fuel in the vessel operation system.
In this respect, our team plays an integral role, diligently tracking the reduction of fuel, energy and waste usage on-board to ensure it meets the requirement. The Group also works closely with the clients and the authorities to ensure compliance.
On 1 January 2020, the International Maritime Organization (IMO) will enforce new emissions standards designed to significantly curb pollution produced by the world’s ships by enforcing a new 0.5% global sulphur cap on fuel content lowering from the present 3.5% limit. The global fuel sulphur cap is part of the IMO’s response to heightening environmental concerns, contributed in part by harmful emissions from ships.
As a responsible corporate citizen, Straits emphasizes in bunkering Low Sulphur Marine Gas Oil and by 1 January 2020, will comply with the initiatives of IMO to reduce harmful emissions to the environment by supplying Low Sulphur Marine Fuel Oil to its customers.
We are committed to a policy of conserving the environment, adopting the latest environmental standards and comply with the required regulations and legislation.
2. We continue to be committed on recycling to reduce wastages such as making use of recycle papers for photocopying and printing when applicable and promoting good practices on energysavings in our daily operations. We also continuously encourage our staff to be environmentally friendly and keep the buildings smoke-free.
a) Strengthening the Local Economy
We contribute to the local economy by providing local employment and creating economic growth through utilisation of local talent/skills and with government revenue generated in terms of taxes.
We are also committed in upholding a good corporate governance framework that promotes fairness, transparency and accountability and we continue to manage our business based on these values which we believe is fundamental to our strong financial performance year after year.
b) Stakeholders’ Engagement
Maintaining active engagement with our stakeholders remains a priority as we seek to further understand the areas of interest, concerns and expectations of our stakeholders on sustainability of our business.
Although we are fully engaged in our business activities and taking care of our stakeholders, we remain dedicated in playing our part as corporate citizen and embrace corporate social responsibility. We are committed to our employees’ welfare, community and the environment that we operate in.