Sustainability Board Statement

As a leading public transport service provider in Singapore, our vision is to move people in a safe, reliable, accessible, and sustainable way. Importantly, we do this in a sustainable manner which is focused on minimising our impact on the environment, ensuring road, commuter and workplace safety, enhancing the well-being of our people and the community as well as upkeeping the robustness of our governance system and protecting our assets.

Our commitment to safeguarding the interests of our stakeholders for sustainability growth comes under the governance of the SBS Transit’s Board of Directors, which has identified sustainability as a key pillar in our overall strategy. The Board considers ESG issues as part of our strategy formulation particularly in three distinct areas:

1. Driving environmental stewardship to enhance sustainability in Singapore

2. Reinforcing our social responsibilities to our customers, employees, and communities

3. Ensuring ethical and strong governance practices

As a public transport service provider, we are mindful that the delivery of our services has a direct impact on the environment. To this end, we work closely with the Land Transport Authority (LTA) to reduce our carbon footprint. We wholeheartedly support the LTA in its commitment to introduce greener buses, with the entire fleet of public buses running on cleaner energy by 2040. We embrace sustainability in our organisation by practising responsible consumption and production; and the Risk and Steering Committee is responsible to drive change within the organisation for long term success.

We care for our people and the people we serve. From the health and safety of our employees to the safety of all our customers, including those from vulnerable populations, we are constantly looking at ways to do better. We have also not forgotten the socially disadvantaged in our community. Our employees are committed to projects and activities that serve our community and help protect the environment. ESG matters as determined by our stakeholders and deemed to be material to value creation are integrated into our balanced scorecard, which is used to set objectives, drive behaviours, measure performance and determine remuneration. The Board Sustainability and Service Quality Committee (SSQC) reviews these material issues quarterly and provides guidance to the Senior Management team to execute initiatives, manage and monitor these issues closely. These material issues are discussed and approved by the Board annually.

We strive for transparency, accuracy, and continuous improvement in our sustainability reporting efforts. Through the Taskforce for Climate-related Financial Disclosures (TCFD), the Board has considered climate-related risks and opportunities in our strategic decision making and is committed to continually advancing in this area. We are progressing towards the climate reporting requirements from the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo). The TCFD is incorporated into our comprehensive sustainability report, including some related disclosures that take preliminary reference to some of the S1 – General Requirements for Disclosure of Sustainability-related Financial Information and S2 – Climate-related Disclosures of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standard. This approach allows us to take a progressive stance on reporting, reinforcing trust between SBS Transit and our stakeholders.

With a workforce of close to 10,000 people, we are committed to nurturing a corporate culture that encourages our employees to act ethically and with a strong sense of mission in meeting the needs of our customers that includes innovations and to ensuring transparent management and fair decision-making in this regard. With a strong emphasis on good corporate governance, we have enhanced the management oversight function of the Board of Directors by implementing appropriate measures such as reviewing of the terms of reference of all Board Committees and building Board competence through relevant trainings and workshops.