Can missing a sustainability-related target be a good thing?
Sembcorp has met its original goals on sustainability assets and emissions
SEMBCORP Industries has confirmed that it will miss a target to have 70 per cent of net profit coming from its sustainable solutions businesses by 2025.
But failing to hit the objective doesn’t mean that Sembcorp is behind on its sustainability ambitions. Instead, it reflects an unexpectedly robust ballast that has allowed the company to aggressively pursue its green strategy.
In 2021, Sembcorp announced a major “Brown to Green” strategy, which included a set of 2025 targets, including the 70 per cent net profit goal.
TRENDING NOW
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
Luxury properties seized in S$3 billion money laundering case fail to sell at auction
US stocks: Tech leads Wall Street to higher close as oil eases, Treasury yields dip
