Jet fuel trader China Aviation Oil (CAO), on Dec 23, announced that it has established a sustainability committee. The committee will assist the board in driving the company’s sustainability and climate-related agenda. The committee will also provide oversight for matters related to environmental, social and governance (ESG) relevant to the company’s businesses.
Most of the members of the sustainability committee will be formed by CAO’s independent directors.
Teo Ser Luck, CAO’s non-executive and independent director, is the chairman of the committee.
Zhang Yuchen, a non-executive and non-independent director, is the vice-chairman of the committee. Zhang is also the general manager of procurement management at China National Aviation Fuel Group Limited.
Other members of the committee are Hee Theng Fong, Dr Fu Xingran and Dr Jeffrey Goh Mau Seong.
The committee will operate from Jan 1, 2023. The appointments will also take effect then.
See also: A US$12 bil climate fund is readying a rare bond issuance
Shares in CAO closed 1 cent higher or 1.26% up at 80.5 cents on Dec 23.
