Tat Seng Packaging Group LtdSGX: T12

Sustainability Report 2024

· MarketScreener

B

U

I

L

D

I

N

G

C

A

P

A

B

I

L

I

T

I

E

S

,

S

H

A

P

I

N

G

G

R

O

W

提

升

核

心

能

力

,

塑

造

成

长

动

力

SUSTAINABILITY

T

H

REPORT

2024



CONTENTS

ABOUT TAT SENG PACKAGING GROUP LTD 2

OUR MISSION AND VISION 2

SUSTAINABILITY VISION AND MISSION STATEMENT 2

MEMBERSHIP AND ASSOCIATIONS 2

ABOUT THIS REPORT 3

ORGANISATIONAL DETAILS 3

REPORTING FRAMEWORK 5 RESTATEMENT OF INFORMATION 5 EXTERNAL ASSURANCE AND INTERNAL REVIEW 5 FEEDBACK 5

CLIMATE AND SUSTAINABILITY GOVERNANCE 6

MESSAGE FROM THE BOARD 6 SUSTAINABILITY IN THE BOARD 7 SUSTAINABILITY GOVERNANCE AND LEADERSHIP 9 POLICIES AND PRACTICES 10 STAKEHOLDER INCLUSIVENESS 12 MATERIALITY ASSESSMENT 13

CLIMATE-RELATED RISKS AND OPPORTUNITIES 17

GOVERNANCE 17 STRATEGY 18 RISK MANAGEMENT 18

SUSTAINABILITY TARGETS AND PERFORMANCE 25

RESPONSIBLE BUSINESS PRACTICES 27

ECONOMIC PERFORMANCE 27 ANTI-CORRUPTION 28

BETTERING THE PLANET 29

ENERGY AND GHG EMISSIONS MANAGEMENT 29 WATER AND EFFLUENTS MANAGEMENT 36 WASTE MANAGEMENT 37

RESPONSIBLE SUPPLY CHAIN 38

RAW MATERIAL MANAGEMENT 38 SUPPLY CHAIN MANAGEMENT 39

SUPPORTING PEOPLE AND COMMUNITIES 41

EMPLOYMENT 41 OCCUPATIONAL HEALTH AND SAFETY 44 TRAINING AND EDUCATION 47

APPENDIX 49

APPENDIX 1: GRI CONTENT INDEX 49 APPENDIX 2: SASB CONTENT INDEX 53

Table A. Sustainability Disclosure Topics & Metrics 53

Table B. Activity Metrics 53

APPENDIX 3: TCFD CONTENT INDEX 54 APPENDIX 4: IFRS S2 CONTENT INDEX 54 APPENDIX 5: CONVERSION FACTORS FOR ENERGY 59 APPENDIX 6: EMISSION FACTORS FOR SCOPE 1 GREENHOUSE GAS EMISSIONS 59 APPENDIX 7: EMISSION FACTORS FOR SCOPE 2 GREENHOUSE GAS EMISSIONS 59 APPENDIX 8: EMISSION FACTORS FOR SCOPE 3 GREENHOUSE GAS EMISSIONS 59

SUSTAINABILITY REPORT 2024

TAT SENG PACKAGING GROUP LTD 1

‌SECTION 1: OVERVIEW OF OUR GROUP

ABOUT TAT SENG PACKAGING GROUP LTD

[GRI 2-1, 2-6]

Founded in 1968, Tat Seng Packaging Group Ltd ("the Company") is a leading provider of corrugated packaging solutions, serving a diverse range of industries across Singapore and China. With over 50 years of experience, the Company specialises in designing, manufacturing, and delivering high-quality packaging products tailored to customers' specifications.

The Company was incorporated in Singapore and has been publicly listed since 2001 and is the only listed corrugated packaging company on the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Company is committed toward driving innovation, quality, and excellence in their product portfolio which includes corrugated boards, cartons, die-cut boxes, heavy-duty packaging, customised pallets, and other packaging-related solutions.

With the Group's headquarters in Singapore, the Company operates state-of-the-art manufacturing facilities in China, located in the provinces of Jiangsu, Anhui, and Tianjin, overseen by the regional headquarters located in Suzhou. Our customers comprise of multinational corporations and local manufacturers in food & beverage, electronics & electrical, medical & healthcare, pharmaceutical & chemical, printing, publishers & converters sectors, as well as other export-related sectors.

Rooted in a philosophy of long-term partnerships and continuous innovation, the Company aims to exceed customer expectations through exceptional service and cutting-edge solutions.

OUR MISSION AND VISION

Vision: To be the preferred corrugated packaging solution provider Mission:

  • Generate win-win solutions with customers

  • Provide growth opportunities for employees

  • Create values for shareholders

  • Care for our communities and environment

    SUSTAINABILITY VISION AND MISSION STATEMENT

    Our vision for sustainable development integration is to provide high-quality products and services to our customers while minimising the negative environmental impacts and increasing our positive social impacts.

    Our mission for sustainable development integration is to provide corrugated paper packaging solutions by adopting international best practices that positively impact stakeholders in our supply chain.

    MEMBERSHIP AND ASSOCIATIONS

    [GRI 2-28]

  • China Packaging Federation

  • Corrugated Box Manufacturers Association

  • International Safe Transit Association ("ISTA")

  • Singapore Business Federation

  • Singapore-China Business Association

  • Singapore Chinese Chamber of Commerce & Industry

  • Singapore Manufacturing Federation

  • Singapore National Employers Federation ("SNEF")

  • Tripartite Alliance for Fair & Progressive Employment Practices

2 TAT SENG PACKAGING GROUP LTD SUSTAINABILITY REPORT 2024

‌SECTION 1: OVERVIEW OF OUR GROUP

Other Certification and External Recognition

  • EcoVadis Annual Assessment

  • Forest Stewardship Council ("FSC®Chain of Custody") Certification

  • ISO 14001 Environmental Management System Certification

  • ISO 9001 Quality Management System Certification

  • ISO 45001 Occupational Health and Safety Certification

  • ISO 50001 Energy Management System Certification

  • Silver status of recognition on Responsible Business Alliance

  • Green Electricity Certificate

  • Green Electricity Consumption Certificate

ABOUT THIS REPORT

ORGANISATIONAL DETAILS

[GRI 2-1, 2-2, 2-6]

Tat Seng Packaging Group Ltd reaffirms our commitment to sustainability with our eighth Sustainability Report which discloses the Company's vision, management approach and progress in sustainable development. This report covers Tat Seng Packaging Group Ltd and our subsidiaries (collectively mentioned as "Tat Seng" or "the Group") hereafter in Singapore and China, including United Packaging Industries Pte. Ltd. ("UPI"), Tat Seng Packaging (Suzhou) Co., Ltd. ("TSSZ"), Hefei Dansun Packaging Co., Ltd. ("HFDS"), Nantong Tat Seng Packaging Co., Ltd. ("NTTS") and Tianjin Dansun Packaging Co., Ltd. ("TJDS"), Nantong Hengcheng Paper Industry Co., Ltd. and Guangzhou Dansun Packaging Co., Ltd., the same operations and subsidiaries declared in the annual report. As Nantong Hengcheng Paper Industry Co., Ltd. has no operation and sales activities while Guangzhou Dansun Packaging Co., Ltd. has not started operation since its incorporation in 2022, both subsidiaries will not be covered in this report.

There have been no changes in the operational size, structure, business activities, value chain, or sector of operation compared to the reporting period of FY2023. There were no minority interests, mergers, acquisitions or disposal of entities in FY2024 that fall within the reporting boundary of this report.

SUSTAINABILITY REPORT 2024

TAT SENG PACKAGING GROUP LTD 3

SECTION 1: OVERVIEW OF OUR GROUP



100%

United

Packaging Industries Pte. Ltd.

("UPI")

Singapore

100%

Tat Seng Packaging (Suzhou) Co., Ltd.

("TSSZ")

China

94.4%

Hefei Dansun

Packaging Co., Ltd.

("HFDS")

China

67%

Tianjin Dansun

Packaging Co., Ltd.

("TJDS")

China

70%

Nantong Hengcheng

Paper

Industry Co., Ltd.1 China

100%

Guangzhou Dansun

Packaging Co., Ltd.2 China

100%

Nantong Tat Seng Packaging Co., Ltd.

("NTTS")

China



Figure 1: The Group's Corporate Structure1 2 and the Shareholdings Breakdown

1 Nantong Hengcheng Paper Industry Co., Ltd currently has no operation and sales activities

2 Guangzhou Dansun Packaging Co., Ltd has not started operation since its incorporation in 2022.

4 TAT SENG PACKAGING GROUP LTD SUSTAINABILITY REPORT 2024

Earlier from Tat Seng Packaging

All Tat Seng Packaging news releases