Long-term commitment to sustainability
The philosophy of “Mutual Prosperity” lies at the heart of our sustainability agenda. NIPSEA Group believes that business success has to be measured by both the achievement of continued commercial viability and also the realisation of our commitments to our Planet and People. ESG considerations are deeply embedded into our business operations to ensure and safeguard continued growth for both NIPSEA Group and the environment.Our sustainability strategy is centred around the five overarching pillars of Customer, People & Community, Environment, Organisational Health and Technical Capability.
NIPSEA Group's Sustainability Pillars
Creating sustainable value for all stakeholders
People & Community
Investing in the well-being of our employees, and building and enabling better communities
Minimising our environmental footprint
Prioritising the needs of our customers
Innovating to drive progress and betterment for society
Ensuring continued economic viability
Ensuring continued economic visibility
2021 marks another year as we celebrate NIPSEA Group’s growth and achievements in delivering sustainable business value while we transition to a post-pandemic normal.
We have observed an increasing demand for our growing category of sealants, adhesives, and fillers (“SAF”) as a result of our advancements in product and service innovation. At the same time, we ensured that our architectural, automotive, industrial, marine, and protective coatings segments remain strong. The diversification of our portfolio and increased focus on adjacent businesses is expected to contribute significantly to our revenue growth over the next few years.
This year, we have made considerable progress on the environment and social sustainability front through emphasising research and development in formulating innovative and environmentally friendly products for our consumers. Moving forward, NIPSEA Group will continue optimising its assets and resources to best serve the immediate needs of the community. Below, we share our FY2021 achievements as we continue to identify and work on key sustainability-related issues and opportunities while operating in today’s business context.
Direct Economic Value Generated (USD' mil)
Economic Value Distributed (USD' mil)
Economic Value Retained (USD' mil)
|Asia’s No.1 paint and coatings company |
(in terms of net revenue; USD’ mil)
|Number of manufacturing facilities|
|Global presence across 22 geographical locations|
|25,870 employees in NIPSEA Group, an increase of more than 11% compared to 2020.|
|4.3 billion litres of paint produced in the year, an increase of more than 12% production volume as compared to FY2020 figure.|
|*These economic values differ from those disclosed in SR2020 as NIPSEA Group|
updated its computation methodology this year as follows:
Direct Economic Value Generated: Revenues = Net sales + revenues from financial investments, sales of assets & other income
Economic Value Distributed = Sum (Operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, community investment)
Economic Value Retained = Direct Economic Value Generated – Economic Value Distributed
Net Revenue = Gross sales from products and services – (returns + discounts + allowances)
Energy intensity decreased by 2.3%.
Emissions intensity decreased by 1.9%*.
>57% of senior managers hired from the local community.
New hire rate of 26.0% and turnover rate of 18.7%.
99.4% of significant product and services categories for which health and safety impacts were assessed for improvement.
No substantiated complaints concerning breaches of customer privacy and no cases of customer information leaks/thefts.
Customer first innovation for a better life
Through expanding and leveraging on our R&D capabilities, NIPSEA Group catalyses product and process innovation while driving value creation as sustainability becomes increasingly salient in today’s landscape. Doing so allows us to be better positioned to meet our customers’ needs and allows us to create lasting impact for the future.
Achieving a sustainable future for people and nature
NIPSEA Group believes that businesses should play a key role in conserving natural resources and protecting our planet. We are committed to meeting our environmental targets and working towards a more sustainable future for all.
Upholding customer trust and confidence
Ensuring responsible business practices has been of paramount importance to the customers we serve.
In this aspect, NIPSEA Group remains committed to adopting safe and ethical business practices throughout our operations and supply chain to assure customers of our product quality and ultimately maintain their satisfaction and trust in us.