Keppel Corporation of Singapore is recognized for its sustainability efforts, including strengthening biodiversity. (Photo: Keppel)
Singapore-based conglomerate Keppel has stepped up its decarbonization efforts, boosting its renewable electricity usage by 20 percentage points within a year. The company is now on track to achieve net-zero targets for Scope 1 and Scope 2 emissions ahead of schedule. However, rising natural gas sales have driven up its Scope 3 emissions.
Keppel expects that as Singapore’s power grid continues to decarbonize, its Scope 3 emissions could gradually decline. At the same time, the company will focus on strengthening management of three key sources of Scope 3 emissions.
How strong are Keppel’s sustainability credentials?
Keppel’s sustainability performance has gained notable recognition. In the latest S&P Sustainability Yearbook, the company ranked in the top 1% within the Industrial Conglomerates category for the first time, standing out among 75 global peers. It has also been included for the fourth consecutive year in the Dow Jones Best-in-Class Indices (DJBIC), formerly known as the Dow Jones Sustainability Index (DJSI), underscoring its growing prominence in sustainability leadership.
Unlock the full article to explore three key takeaways:
- Keppel cut Scope 1 and 2 emissions 87.6% below its 2020 baseline, well ahead of its 2050 net-zero goal.
- Renewable electricity use jumped from 40% to 60% in one year, beating the company's 50% target.
- Scope 3 emissions rose 11% to 6.71 million tonnes CO₂e, with "Use of Sold Products" making up 77%.
