Keppel's carbon emissions shrunk y 17.6% in 2022

The company expanded its Scope 3 coverage to all 15 categories.

Keppel Corporation (Keppel) said that it has reduced its Scope 1 and 2 emissions by 17.6% by the end of 2022, according to its latest sustainability report.

Keppel aims to halve its carbon emission by 2030, and achieve net zero by 2050.

Scope 1 emissions covered those from sources they owned or controlled directly, whilst Scope 2 emissions were from purchased electricity, steam, heat, or cooling.

The company also set a new target for 50% of its electricity use from renewable energy sources by 2025 to reach 100% by 2030, accelerating its carbon emissions reduction.

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Keppler further expanded the coverage of its Scope 3 emissions or indirect emissions in the upstream and downstream value chain from 10 to all 15 categories. 

"We are working with our value chain and portfolio of investments to lower their carbon emissions and improve energy efficiency where possible," Keppel said.

The company reported its operation of two WTE plants in Singapore and the Domestic Solid Waste Management Centre in Qata resulted in 2.5 million tCO2e in net avoided emissions.

Its energy efficiency measures, together with the green initiatives implemented at Keppel Land's Green Mark-certified developments, resulted in 1,125,595 GJ of energy savings in 2022, or about $94m of estimated cost savings and 126,000 tCO2e in avoided emissions.