Can missing a sustainability-related target be a good thing?

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.