PowerSeraya Sweeps Two Category Awards at ACCA Singapore Awards for Sustainability Reporting 2008

Its first Sustainability Report also attained the Global Reporting Initiative’s (GRI) B+ – the highest level obtained for a local company

Singapore, 28 July 2009 – PowerSeraya today announced that it has received two category award wins in the Association of Chartered Certified Accountants (ACCA) Singapore Awards for Sustainability Reporting 2008. The award, which is into its seventh year, is endorsed by the National Environment Agency. In the first year of developing its Sustainability Report, PowerSeraya also attained a Level B+ from the Global Reporting Initiative (GRI) – the global standard for sustainability reporting – making it the highest GRI level obtained by a Singapore company to date.

Under ACCA’s Awards for Sustainability Reporting 2008, PowerSeraya clinched awards for ‘Best Sustainability Report’ and ‘Best First Time Report’. The company’s inaugural Sustainability Report aimed to highlight the company’s commitment, policies as well as performance in the environmental, economic and social spheres that have an impact on its business and various stakeholders.

Winning these awards indicates a good beginning for PowerSeraya as it is being recognised for its efforts in giving its first and thorough report of its various initiatives to promote sustainability within and outside of the company.

“At PowerSeraya, more than just being committed to business and customer excellence, we also seek to adhere to the highest standards of corporate governance, integrity, and transparency. Being the first local company to meet the GRI Level B+ for sustainability reporting, plus the recognition through these awards, validates our approach towards sustainability and provides a firm foundation for further improvements in future,” said John Ng, CEO of PowerSeraya.

Formerly known as SESRA (Singapore Environmental and Social Reporting Awards), the ACCA Singapore Awards for Sustainability Reporting 2008 were presented at the Four Seasons Hotel on Tuesday 28 July and graced by Dr. Yaacob Ibrahim, Minister for the Environment and Water Resources. The awards were divided into four categories which include Environmental Reporting, Social Reporting, and the newly-added categories of Sustainability Reporting and First Time Reporting. In fact, apart from PowerSeraya winning the ‘Best First Time Report’ category, its sustainability report impressed judges so much that it was nominated for, and subsequently voted to win the ‘Best Sustainability Report’ category.

Penelope Phoon, Country Head, ACCA Singapore said: “PowerSeraya’s excellent report more than satisfied the strict ACCA judging criteria for transparency and accountability. The report, having been verified as GRI B+ level, has clearly made it a leader in sustainability reporting in Singapore. It has also set a bench mark for companies wishing to join the sustainability reporting journey.”

PowerSeraya’s Level B+ for its Sustainability Report – which was developed based on the most widely used global reporting standard for sustainability – is also a testament of the company’s commitment and push towards sustainability. The Global Reporting Initiative (GRI) reporting framework is the international guideline for sustainability reporting across various industries globally. The higher the level obtained reflects a greater level of disclosure and transparency of the report, and is also a good indicator of the comprehensiveness of the company’s sustainability track record. According to GRI, over 1500 global companies have voluntarily adopted their framework to produce their sustainability reports.

PowerSeraya’s Sustainability Report can be downloaded from here.