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Tying executive pay to ESG: Singapore listcos see strategic role

Environmental, social and governance-linked pay can boost sustainability efforts, but metrics must be carefully designed

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Sharanya Pillai

Sharanya Pillai

Published Mon, Aug 26, 2024 · 05:00 AM
    • Vinamra Srivastava, CapitaLand Investment’s chief sustainability and sustainable investments officer, says the company has ESG-related targets in its group business scorecard.
    • Vinamra Srivastava, CapitaLand Investment’s chief sustainability and sustainable investments officer, says the company has ESG-related targets in its group business scorecard. PHOTO: CLI

    AT LOCAL telco Singtel, top executives’ remuneration is not just based on hard financial metrics. Tackling issues such as climate change, digital inclusion and talent diversity also play a part in determining how they are compensated.

    Singtel is part of a small but notable group of Singapore-listed companies that incorporate ESG – or environmental, social and governance – key performance indicators (KPIs) in their top executives’ remuneration.

    The company has used ESG-related KPIs in the incentive plans of its top executives – including chief executive Yuen Kuan Moon and management committee members – since its strategic reset in mid-2021.

    ESGCEO payHR managementsustainability

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