Sustainability


SUSTAINABILITY AND VELESTO ENERGY BERHAD

With our management’s commitment in supporting the Government in promoting its social and national development agenda, VELESTO’s initiatives are reflected in our policies and strategies, our conduct with employees, clients and other stakeholders.

In FY2020, VELESTO developed its Sustainability Blueprint, a holistic strategic plan that provides us with a comprehensive framework to guide and align our overall sustainability approach.

The Blueprint enables us to adopt a comprehensive and integrated approach that places sustainability at the heart of the organisation. Focus areas have been identified under the Blueprint with clear goals and targets set as well as action plans drawn up and implemented.

2020 HIGHLIGHTS & ACHIEVEMENTS

Tier 1 (Setting the Pace)
for our Sustainability disclosures by BURSA

Included in the
FTSE4 Good Bursa Malaysia Index


2019 ASEAN CORPORATE GOVERNANCE SCORECARD (ACGS) AWARDS
(ASEAN Asset Class Award category)


4-stars (Top-Quartile)
ESG ranking

by Bursa Malaysia and FTSE Russell


6 United Nations Sustainable Development Goals
Sustainability Development Goals (“UN SDGs”) adopted by VELESTO; UN SDG 3, UN SDG 4, UN SDG 5, UN SDG 8 UN SDG 13, and UN SDG 14

Purchases from Local Suppliers:
RM120 mil
(FY2019: RM186.0 mil)

In Employees Salaries and Benefits:
RM118 mil
(FY2019: RM139 mil)


Taxes Paid to the Government:
RM10 mil
(FY2019: RM9 mil)

Debt and Interest Repayment to Financiers:
RM301 mil
(FY2019: RM231 mil)


Total Workforce
660 employees
(FY2019: 715)
79% Malaysians

42%
of Women
at
Senior Management


– 11%
year-on-year total Greenhouse Gas (“GHG emissions”)

– 11%
reduction in rig energy consumption


Zero Fatalities and Zero Major Spills

44% of Women Directors


291 Participants Trained
@ Velesto – INSTEP Drilling Academy (VIDA)

2.3mil Manhours
(FY2019: 2.6 mil manhours) without LTI


Publications




Sustainability Report 2018



Sustainability Report 2019



Sustainability Report 2020

Corporate Social Responsibility

Velesto Energy Berhad regards Corporate Social Responsibility (CSR) as an important practise for the organisation, taking into consideration the economic, social, and environmental impact of the Company.

Velesto Energy Berhad’s CSR initiatives are streamlined into three (3) main categories; SAFETY, EDUCATION and ENVIRONMENT; which ultimately translates into raising and improving awareness on safety culture; capacity building through education; and protecting and preserving the environment. All initiatives are geared to be sustainable and impactful.