S&techs is committed to monitoring its climate footprint, enhancing its resilience to climate change, and striving towards a net zero future. To govern our climate-related impacts, we have formulated a Climate Policy, which considers a two-pronged strategy of Mitigation and Adaptation to manage our climate footprint.
This year, we carried out a climate-related risks and opportunities analysis to better understand the implications of climate change for our operations.
Following the recommendations provided by the Task Force on Climate-Related Financial Disclosures (TCFD), we have identified 5 main risks and 2 main opportunities that are relevant to our operations as a main contractor and fit-out services provider.
The table outlines our material climate-related risks and opportunities, along with the potential financial impacts thereof on our business operations.
Frequent extreme weather
events directly cause damage
to structures and facilities
Stricter government
decarbonisation policies may
lead to higher exposure to
legal and litigation risks
Intensified competition in
greener fitting out operation
Prolonged period of extreme
hot weather may lead to
potential increase in health
issues of employees
We have defined two opportunities: Resource Efficiency & Reputation. The benefit is reduced operating costs due to resource conservation.
Increase in revenue: Low-emission and low-energy-consumption buildings.
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Furthermore, we have outlined S&techs’ environmental improvement action plan for the year, with the primary objective of addressing waste generation and recycling. The objectives and progress of the plan are monitored by our Safety, Health, Environment and Quality (SHEQ) Department, which coordinates and collects information from our subcontractors, project managers, or the office management whenever necessary.
Progress is tracked and updated quarterly to ensure that teams are on track to meet the Company’s targets. We will continue to enhance our data collection processes to expand our reduction targets to other avenues, such as greenhouse gas emissions.
