ESG Goals
Business growth is intricately linked to social and community evolution. At oceans.ai we understand that for a business to be effective and successful, interlacing the business goals with social goals of the society, the country and the industry are key to sustained long term growth. It is with this in mind that oceans.ai has developed our ESG commitments to mesh with our business objectives.
Our commitments are designed to address real, immediate, measurable and practical goals of the industry and the economy over the next decade, and as the global priorities evolve our business commitments will also evolve.
Environment
COP26 in November 2021 is a key date when the world commits to specific actions and pledge funds that will help achieve the goal of limiting the global temperature rise to 1.5 °C by 2050. Towards this commitment each citizen and businesses across the globe have to shoulder their burden to make sure that that these goals are achieved. For complex businesses with complex operations these specific measurable outcomes need to take into consideration the entire supply chain cycle of their operations to capture the carbon impact and then identify specific tasks that need to be fine-tuned, improved or changed to contribute to the net carbon zero outcomes. Once improved, the system needs to be in place to make sure that the process does not breakdown causing carbon leakage.
As you can see the process above can be daunting for organizations without a holistic live view of their operations and assets, with clear measurable parameters that are derived from ground truth data that will give a continuous view of goals being met, and that have the ability and will to preventively take action so that the potential carbon leakages are plugged well before any disruption occurs. Essentially find ways to measure the goals, keep a continuous track of the goals and prevent disruptions to the goals set.
At oceans.ai our commitment is to build IOT and AI/ML solutions and platforms that will help organizations work towards these commitments in a systematic manner within the framework of their business operations and taking the insight and knowledge of their existing workforce to steer business towards these commitments rapidly. With our AI and predictive solutions like DIVE, DeepDIVE and in-service Digital Twin platforms like INSYD ( being built jointly with PERCALL), oceans.ai is powering the digital transformation the industry needs to achieve these goals. The oceans.ai commitment is to enable businesses setup systems in place
Net Carbon Zero
To achieve Net Carbon Zero
reduce the carbon footprint
Drive the efficient and effective use of technology to reduce the carbon footprint of resource utilization.
predictive maintenance
Power predictive maintenance to minimise disruptions and environmental disasters in their journey to achieve CO2 goals.
Social
It is with this mind, oceans.ai is committed to building and working with an inclusive team not just within the organization but across the entire ecosystem. We will hire talent based on skills we need to drive the transformation. We will work with partners who are committed to the same ideals as us in achieving these goals. We will power local communities and local economies to contribute towards development of our solutions so that when we grow the local economies grow and they are incentivised to find the best solutions that will help us achieve our business-, environment-, social- and governance commitments.
Our commitments are focused around 3 key areas:
Diversity
We are committed to hiring and partnering with the best talents across the entire hierarchy of the organization keeping the talent pool race-, nationality-, gender- and orientation neutral. We commit to keeping talent, performance and remuneration as the only factors that will drive growth within our organization’s ecosystem.
Equal pay and equal opportunity
we commit to providing equal opportunities for growth and equal rewards for same work, irrespective of social background and social parameters. At oceans.ai we believe the outcome that the individual and team delivers is the only factor that should reflect in the rewards given and nothing else.
Local economies
We are committed to working with local governments and building local skill sets and capabilities to empower the economy and the socio-economic fabric of the business environment. For example we are working with AI Singapore towards local AI skill development that will help power Singapore’s growth towards being the AI capital of the APAC region and of the world. We are also exploring other ecosystems like France and India to power these local economic growth engines.
Diversity
We are committed to hiring and partnering with the best talents across the entire hierarchy of the organization keeping the talent pool race-, nationality-, gender- and orientation neutral. We commit to keeping talent, performance and remuneration as the only factors that will drive growth within our organization’s ecosystem.
Equal pay and equal opportunity
we commit to providing equal opportunities for growth and equal rewards for same work, irrespective of social background and social parameters. At oceans.ai we believe the outcome that the individual and team delivers is the only factor that should reflect in the rewards given and nothing else.
Local economies
We are committed to working with local governments and building local skill sets and capabilities to empower the economy and the socio-economic fabric of the business environment. For example we are working with AI Singapore towards local AI skill development that will help power Singapore’s growth towards being the AI capital of the APAC region and of the world. We are also exploring other ecosystems like France and India to power these local economic growth engines.
Governance
At oceans.ai we are of the strong belief that Governance is not just a nice-to-have catch word in the organization’s growth plan. We believe innovative companies fail primarily due to poor governance. Statistics indicate that some of the top reasons for failures in start-ups are:
- Ran out of cash
- Not the right team
- Disharmony with investors
- Lost focus
- Didn’t use available network/advisors
- Legal challenges
Towards addressing this it is imperative that companies have the right processes in place to mitigate the risks of these reasons for failure by:
- Clarifying goals regularly and recalibrating focus to adapt to the existing environment and conditions.
- Measuring progress to fine-tune the right parameters that power growth and mitigate those that are a drag on growth.
- Minimizing legal risks by having a clear and systematic framework towards risk management across all aspects of the business to avoid pitfalls and by providing a secure avenue for whistle blowers.
- Empower every talent in the organization with value growth through ownership in the business.
- Maximizing stakeholder accountability and partnership by engaging closely not only with our strategic investors, but our employees who have invested their time in us, to our partners who are committed to similar values as ours, to the local communities who have contributed to creating a conducive environment towards the growth of our business.
- Providing a leadership model to drive the business through Open, Transparent, Delegated and Multi-Channel Communication that leads to egoless decisions, powering the business to optimal growth paths.
These are the key points of our commitments, these are not all and these are not fixed. These will evolve and change as the priorities of our stakeholders and the business changes but the underlying principles of the business will continue to hold and grow with each growth milestone we achieve.
We look forward to our long-lasting partnership to help achieve these goals.
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