Sustainability is at the core of EcoWorld’s vision of Creating Tomorrow and Beyond and is the #1 Core Value of the EcoWorld Brand. As a property developer that is conscious of the environmental, economic and social challenges in our industry, we are committed to driving sustainable development on the Environmental, Social and Governance (ESG) fronts both in our operations and in the communities we serve. We pledge to continuously work towards enhancing our efforts (both short-term and long-term) in growing the business sustainably and creating value for our stakeholders while minimising our impact on the environment and acting responsibly towards the communities in which we operate.
The EcoWorld Board of Directors is the ultimate authority over the Group’s sustainability strategy and governance, reviewing and approving all sustainability-related policies and initiatives. The Sustainability Committee, comprising key senior management personnel covering all disciplines and regions of operation, shall assist the Board in the implementation of sustainability goals and initiatives, and report progress on a half-yearly basis.
The Sustainability Committee shall be supported in this execution of ESG-related plans and initiatives by the Environmental & Governance Council, Green & Operations Council and Social Council. Members of the respective councils are to be appointed by the Sustainability Committee, and are responsible for reporting on the implementation status of ESG initiatives, and for the collation of relevant data for monitoring and analysis purposes.
In setting EcoWorld’s sustainability strategy and focus areas, we are informed by EcoWorld’s Vision, Mission and Core Values which are reproduced in this policy for easy reference:
The EcoWorld brand is about the pursuit of better, greater ways to complete people’s living experience. We want to be thought leaders and innovators – a non-traditional business with positive economic, social and environmental impact. We push boundaries in our vision of Creating Tomorrow & Beyond.
In order to become the brand we want to be, we will leverage on the power of positive collaboration, passionate energy, and fresh ideas that move communities, as outlined in our Mission Statement
We will achieve our Vision through EcoWorld’s Culture of Excellence, harnessing our Time, Talent and Resources to:
The United Nations defines sustainable development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. Our vision, mission and brand core values reflect our commitment towards achieving the UN’s sustainable development agenda.
We are also guided by the 17 Sustainable Development Goals (SDGs) designed by the United Nations as a “blueprint to achieve a better and more sustainable future for all”. We are committed to taking positive steps towards greater achievement of the goals most relevant in the context of our operations in the hopes that our efforts will count towards the global achievement of the SDGs.
We believe in the spirit of openness and transparency in communication with our stakeholders (including but not limited to employees, customers, investors, regulators, contractors & suppliers, media and non-governmental organisations). Frequent and robust engagement with stakeholders via various methods of communication will allow us to keep abreast of their needs and expectations, and identify the areas that matter most to them.
In the pursuit of sustainable development, EcoWorld commits to take responsible actions in the following areas in a timely manner:
Good Governance and Good Business Practices
We uphold integrity, good governance and ethical behaviour in all our business practices in order to maintain the trust of our stakeholders and our social license to operate. We are committed to providing quality products and services to all our customers and residents in our developments. We strive to conduct our business responsibly, causing minimal disruption to the communities around our developments. We pledge to conduct our business in accordance with applicable laws and regulations by which we are bound. In the event of shortcomings, we will take the necessary and appropriate remedial actions as soon as we are able to and within reasonable timelines.
Displaying Exemplary Labour Practices & Protecting Human Rights
We will provide a safe, healthy and equal opportunity working environment for our employees and we positively engage with our supply chain partners to encourage and incentivise them to do the same. We are committed to ensuring that the appropriate labour standards will be applied and that our employees will receive fair salaries / wages for fair working hours. Our employees shall receive equal access to training and development programmes as well as opportunities for career growth. We will put in place (and continuously improve) health and safety procedures and measures to ensure the safety of all who are present at our business premises.
We will strive to uphold the human rights of our employees and our communities. We stand strongly against practices such as child labour and forced labour. Discrimination (in respect of race, religion, gender, age, disabilities, nationality, etc.), bullying and harassment will also not be tolerated.
Addressing Climate Change & Protecting Biodiversity and the Environment
We are committed to operating responsibly and safeguarding the environment. We acknowledge the negative impacts of climate change, biodiversity loss and environmental degradation resulting in global warming. With this in mind, we will endeavour to assess and control our greenhouse gas emissions, pollution and waste production. We will also monitor and conserve (where possible) the use of energy, water and resources, and encourage recycling and reuse wherever practicable.
Through our Sustainable Procurement Policy, we seek to work with supply chain partners who consider environmental issues in their everyday business and encourage them to provide solutions, materials and goods that are sustainable and eco-friendly. Priority is given to the purchase of items produced that take environmental and social issues into consideration and to supply chain partners who are proactive in caring for and conserving the environment. This applies to all our supply chain partners, which include but are not limited to contractors, consultants, suppliers, vendors, product manufacturers and product distributors, as we partner with them to progressively reduce the environmental burden within our entire supply chain.
Through our collaboration with internal and external stakeholders, continuous education and awareness on climate change metrics (particularly in Science-Based Target setting), and commitment from our senior leadership, we intend to work towards a Net Zero Carbon future.
Supporting the Community
We acknowledge the role we play as good corporate citizens in being responsible towards the communities around us. We are committed to engaging with the communities in and around our developments and supporting them by providing the infrastructure necessary for economic and social development and opportunities for employment. Through the Eco World Foundation, we are also committed to providing equal access to education for children from underprivileged backgrounds in the hopes of eventually elevating the financial and social status of the families under our care.
The following are the procedures EcoWorld shall undertake to ensure that our chosen sustainability strategies are carried out effectively:
To measure our sustainability performance and track progress, we have formulated specific key performance indicators (KPIs) based on operational goals and targets, which will be continuously improved upon going forward. As we advance on our sustainability journey, we aim to further improve on our efforts in contributing to the establishment of a sustainable society. Accordingly, this Sustainability Policy is subject to ongoing review and revisions where necessary to reflect the Group’s commitment to continuous improvement.