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Sembcorp to miss 2025 target on green business profits, drops metric from 2028 strategy

Management will not receive compensation tied to this particular sustainability goal

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Janice Lim

Janice Lim

Published Mon, Feb 3, 2025 · 05:00 AM
    • As earnings from Sembcorp's gas business has grown, the sustainable solutions segment has been accounting for an increasingly smaller portion of the company’s total net profit since the target was set.
    • As earnings from Sembcorp's gas business has grown, the sustainable solutions segment has been accounting for an increasingly smaller portion of the company’s total net profit since the target was set. PHOTO: BT FILE

    SEMBCORP Industries will miss one of its 2025 strategic targets of having 70 per cent of its net profit come from its sustainable solutions business, said the energy company in response to queries from The Business Times.

    This means that Sembcorp’s management will not be able to receive the compensation tied to this particular sustainability goal.

    It is one out of three energy transition targets Sembcorp had set in 2021, as part of its pivot to be a renewable energy company, with the executives’ remuneration directly linked to the achievement of all three targets.

    sembcorp industriesRenewable energyenergy transitionESG

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