Annual Report 2013 - Singapore Environment Council

Transcription

Annual Report
2013
SEC Core Values
Contents
SEC Core Values
3
Like our planet, the Singapore Environment Council (SEC) encompasses multiple
layers of expertise, culture and character of our people and organisation. But at the
very core, our values will always remain to steer us in one common direction.
Message from Chairman
4
We embrace the following core values:
Message from Executive Director
5
Members of the Council
6
Board of Directors
8
SEC Secretariat
14
Key Accomplishments
16
Programme Highlights
18
Corporate Governance
29
Financial Statements
33
Excellence
We go the extra mile to succeed, exceed our stakeholders’ expectations and
stretch our capabilities to achieve the best possible outcome every time.
Innovation
We promote an innovative culture and attitude. We think differently and
strive to apply innovative thinking and creativity to everything we do.
Integrity
We meet the highest ethical and professional standards in all of our
organisational endeavours and in doing so, hold ourselves accountable to
our mission and to the public.
Passion
We show pride, sincerity and dedication in our programmes, people and
the environment, thereby delivering superior value to our stakeholders.
Teamwork
We are supportive of each other’s efforts, and work together to meet our
common goals as a diverse, yet unified team. We respect all individuals and
value their contributions.
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3
Message from
Chairman
The best things in life are free, but fresh air and clear skies that we took for granted couldn’t even be bought in June
2013, when the slash and burn practices of Indonesia’s palm plantations blanketed Singapore in one of the worstever haze.
Environmental problems like these have made the everyday person and green advocate alike sit up and pay
attention to the health and environmental hazards that could have been prevented, should palm producers have
started sustainable waste management of their by-products when the first few whiffs of haze started wafting our
way in 1994.
The voice and presence of the SEC on the challenge for better results and ownership within the industry are being
recognised. Have we created impact? Consumers can now wield their purchasing power to buy products and
services with less undesirable effects on our environment under the Singapore Green Labelling Scheme (SGLS),
which is seeing more interest since its launch 22 years ago.
Also extending its presence to the rest of Southeast Asia is the Singapore Environmental Achievement Awards.
Malaysian landfill operator, KUB-Berjaya Enviro Sdn Bhd topped the regional category in 2013. Other winners
include Keppel Land, Institute of Technical Education and Housing & Development Board.
Our 170,000 Singapore’s Small and Medium Enterprises (SMEs), collectively contribute nearly half of GDP, were
also encouraged to participate in our environment movements.Introductory workshops were also available for
businesses to understand how to qualify for the awards by implementing sustainability practices in their operations.
The Asian Environmental Journalism Awards saw a threefold increase in applicants, and journalists showed keen
interest to participate and showcase their awareness campaigns.
Moving beyond awards, SEC is also equipping businesses with more sustainable know-how
with a training and development arm. This new department will certify and train companies
to implement sustainability as part of their business strategy moving forward.
As individual consumers in Singapore, we continue to face that environmental dilemma
– to bag or not to bag? Bagging this question, SEC launched its very first research paper
garnering views from diverse groups of people on their plastic bag usage. The findings
are alarming that Singapore used 3 billion plastic bags in 2011 alone. As part of our Bring
Your Own Bag Everyday (BYOBE) initiative, SEC collaborated with National Institute of
Education and launched educational kits to help primary, secondary and junior college
students work on their studies based on the topic of Singapore’s dependence on plastic
bags.
2014 promises to be another interesting year and we will showcase ENVision plans
and programmes. More importantly, our new Environment Academy would
have been launched.
Once again we thank our partners, individuals, communities who have
worked with us over the years, especially in 2013, when we made a greater
push towards Singapore’s environmentalism. In 2014, we hope for more
new partners to create value and inspire impact in Singapore and beyond.
Ms Isabella Loh
FSENG, FCMI
Message from
Executive Director
In 2013, SEC’s programmes made an impact that was felt not just in Singapore, but in the region. Our outreach
programmes stretched across the miles, crossing borders and reaching out. As a result, we saw journalists across
14 countries submit 84 entries, three times more applications for the Asian Environmental Journalism Awards, as
compared to the previous year.
On home ground, our elder and experienced athletes like Aleksandar Duric and C Kunalan stepped up to be Green
Champions, while our younger ones learnt through the School Green Awards not to take for granted their food,
water and even the energy that powers up their phones and electronic gadgets. Everyone at SEC recognises the
value of seeing a record number of 327 schools achieve record reductions in utilities and resources. Businesses with
established sustainable practices were also put in the spotlight with the Singapore Environmental Achievement
Awards.
Homes, businesses and offices, all continued their collaboration with SEC as we work with partners and lend a hand
- a green hand - to initiatives such as the Singapore Green Labelling Scheme, Project: Eco-Office, Project: Eco-Shop
and Earth Helpers’ monthly recycling drives.
The impact of our work also spurred more ground up initiatives, as individuals got to express their views on
Singapore’s green future through SEC-organised ENVision dialogues, which gathered 440 individuals from schools,
community groups, government agencies, NGOs, schools and the youth sector. The findings will form the basis of
an upcoming review for the Ministry of the Environment and Water Resource’s Sustainable Singapore Blueprint in
2014.
To reach out to more partners and see how we can work together, our website
has been revamped to add more dynamism and streamlined information, so
more partners can easily understand the work we do.
We also hope to increase our outreach because every single one of us
makes up the ecology. And as the haze of June 2013 has taught us, the
environment affects everyone. It is through the hard work of everyone,
including the SEC Secretariat and our partners, that we approach the
goal of realising a cleaner environment, a healthier ecosystem and a
greener world for all.
Members of the Council
Prof Su Guaning
Mr John Lim
Prof Leo Tan Wee Hin
In our highly interconnected
world, complex living communities
thrive. Mankind throughout has
grown in strength and has the
ability to affect changes, both
good and unfortunately, notso-good. SEC demonstrates the
value of maintaining a sustainable
environment amidst our evolving
growth, such that we constantly
remember to strike a balance
between our nation’s development
and mother earth’s growth.
SEC has grown by leaps and
bounds over the past 19 years with
programmes encompassing almost
every facet of the environment
within our society. Today, it is well
recognised as an organisation with
deep passion and commitment
towards inspiring a greener and
more sustainable future for the
many generations to come.
In recent times, Asia has seen
several natural disasters while
Singapore has witnessed extreme
weather conditions such as
prolonged dry spells becoming
part of our daily lives. It is essential
that the world understands
the implications of our actions
and relooks our lifestyles and
behaviours. The SEC presents a
credible voice in questioning the
way we have done things in the
past and together pave the way
for a more sustainable future. For
instance we are currently taking
the lead with ENVision, a series of
public consultation sessions, as
part of a review of the Sustainable
Singapore Blueprint.
Member of the Council
Vice-Chairman
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Board of Directors
Ms Isabella Loh
Dr Teo Ho Pin
The SEC today is ambitious, creative
and offers a fresh perspective in
how we advocate and inspire our
local and regional markets towards
green consciousness. There is
never a dull moment with the SEC
and I believe in working alongside
with my team, assuring them of the
steadfast support they have from
the Board.
I commend SEC for championing
the environmental cause. Many
3P (Public, Private & People)
partnerships have been forged
to engage and create value for
all stakeholders, who adopt
sustainable development practices
to develop Singapore into a city
which is efficient, clean and green.
Chairman
Vice-Chairman
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Board of Directors
Mr Philip Su
Director
Tan Wee Hock
Director
Board of Directors
Mr J.B. Rae-Smith
Director
Dr Ming Tan
Director
Ms Lee Sze Yeng
Director
Ms Linda Dorothy
De Mello
Director
SEC’s journey has been inspiring
in every sense – for instance
its intriguing dependency on a
sustainable
environment;
an
exhilarating experience in courting
volunteers and sponsors; and
the inspirational journey we have
undertaken in safeguarding our
environment in 2013. This year, our
emphasis is on areas in which SEC
can continue with its leadership
roles, for example – in simplifying
our participative programmes
beyond Singapore with our
Singapore Green Labelling Scheme
and Project: Eco-Office. Outside
Singapore, we must continue to be
passionate, to respect and care for
our environment.
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SEC has and always will continue
to play the important role of
encouraging everyone to adopt
the right attitudes in caring
for our environment. The 3P
(People, Public & Private) sectors
understand the need to collaborate
and
cultivate
community
ownership on a collective level.
Even when everyone adopts an
environmentally-friendly lifestyle,
SEC can value-add to maintain
the
collaborative
momentum
in
promoting
environmental
ownership and sustaining a good
quality living environment.
Swire
Pacific
wholeheartedly
supports the environment and is
committed to the sustainability of
our fragile planet. SEC helps sets
the direction which we should
all head towards, and aligns all
our vital roles towards greening
not a company’s operations
but the overall culture within
organisations.
Club 21 shares SEC’s faith in
youths. We believe that the young
have the imagination, energy
and determination to chart a
sustainable future for themselves.
That is why we support the
SEC’s School Green Awards. In
addition to raising awareness on
environmental issues to more than
half a million students annually, the
programme allows SEC to equip
students with knowledge and skills
needed to make a difference.
Environmental
sustainability
continues to impact and shape
the way corporations do business.
It is becoming more pertinent for
businesses to be accountable for
their impact to the environment
as it is to their finances. SEC
continues to be at the forefront
with its certifications and awards
programmes to guide corporations
towards this mutual goal.
Water is a precious resource, all
the more so, in Singapore. SEC
has done a good job in creating
awareness among our young
water advocates. The ABC (Active,
Beautiful and Clean) Waters
programme lets people of all ages
to enjoy these spaces. The young
can also have opportunities to take
ownership and show responsibility
towards our waterways, which
have come a long way from being
just drains and canals.
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Board of Directors
Board of Directors
ADVISORY COMMITTEE
Prof Ng Wun Jern
Mr Robert Yap
Dr Leong Chee Chiew
Mr George Huang
Mr Michael Toh
Mr Dalson Chung
If a good craftsman is credited with
works of art regardless of his tools,
SEC must surely be that craftsman.
SEC’s programmes touch the
population and produce youths,
men and women who develop
the acute sense of environmental
responsibility. Whether it be
preschool children, or youths or
even experienced sportsmen and
sportswomen, the organisation’s
stature
and
reputation
is
prominent and apparent and carry
a strong voice for our environment.
With the Singapore Environmental
Achievement
Awards,
SEC
continues to raise the bar of
environmental excellence among
businesses, recognising them for
their leadership and innovation
in Singapore and Southeast Asia.
In the long run, I have confidence
that it will create a positive knockon effect on society as they act as
role models for other businesses.
The SEC’s active outreach to schools
creates value through a future
generation of environmentally
responsible people. Its impact
is felt too, as SEC led the public
conversation on the Sustainable
Singapore Blueprint. The SEC
today plays a central role and will
grow to forge a common vision for
Singapore’s environment for the
future.
SEC has come a long way in
establishing itself as a leading
environmental NGO in Singapore.
Today, it creates value and
inspires impact beyond the local
environment scene. In 2014,
the
Singapore
Environmental
Achievement
Awards
will
promisingly expand further into
Asia, thereby inspiring more
businesses to go green and in doing
so, reap potential benefits such as
cost savings through increased
efficiency.
SEC initiated the ENVision exercise
to derive a collective set of vision
and values for the environment,
based on the views and suggestions
of all stakeholders. This important
endeavour will positively impact
Singapore as we lay down future
initiatives for the environment.
SEC
formulates
meaningful
programmes
and
organises
activities which will help raise
the environmental awareness
of the population regardless of
age or race. I am impressed with
SEC’s momentum which doesn’t
stop at our shores, and continues
spreading around the region.
Director
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Director
Director
Chairman
Advisor
Advisor
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SEC Secretariat
Executive Director’s Office
Jose Raymond
Executive Director
Veenitha Vijayan Saazliana Abdullah
Steven Chin
Executive
Finance
Senior Executive
Finance
Green Label Certifications
Kelvin Lai
Senior Administration Manager
Chong Li Min
Executive
Karine Tan
Executive
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Senior Executive
Office Assistant
Talent Management & Development
Ramanathan Thurairajoo @ Roy Helen Ho
Administration Executive
Training & Education
Eco Certifications
Jacey Yong
Executive
Partnerships Development & Communications
Krishnavenni Manickam
Sean Seah
Director
Administration Executive
Director
Manager
Resident Environmental Engineer
Communications
Administration Assistant
Ngeow Yin Teen
Kavickumar Muruganathan
Director
Ambrose Lim
Outreach & Programmes Management
Yudhi Arianto
Shirley Chua
Noor Aisha A Hani
Senior Executive
Resident Environmental Engineer
Lynda Hong Ee-Lyn
Manager
Prakash Raja
Ng Wee Kiat
Manager
Kim So
Executive
Receptionist
Danial Mustapha
Executive
Sharmine Tan
Executive
Kogilam Hannah
Jeanette Choong
Executive
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Key Accomplishments
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Creating Impact
Through the “Teach them Young” programme, students from St. Margaret’s
Primary School explored the topic of environmental protection with a
group of preschoolers
Launched in 2000, the School
Green Awards (SGA) inspires
students from all cohorts to make
a conscious effort to go green.
Students take part in an audit
protocol to track their schools’
usage of energy, water and paper
on a per capita basis, and to
monitor the progress on a yearly
basis. With the checklist fine-tuned
to suit students in pre-schools all
the way to junior colleges, they
understand and appreciate at all
levels, the underlying value of
going green, whether at school,
work or home.
Containing handy tips and activities
which students can share with their
families and friends to nurture
positive behaviour, 100,000 copies
of the SGA booklet was produced.
The booklet was also translated
into Chinese, Malay and Tamil.
Clementi Town Secondary School students demonstrating active citizenry
by planting plants along the waterways, to reduce soil erosion and improve
the water quality at Sungei Ulu Pandan Wetland
The SGA 2013 Awards Ceremony
was held on 5 November 2013,
with Ms Grace Fu, Minister, Prime
Minister’s Office, Second Minister
for the Environment and Water
Resources and Second Minister
for Foreign Affairs, as the Guestof-Honour. 376 attendees from
the school stakeholder group and
our partners saw the impact this
programme had made so far, after
seeing the number of participating
schools increase from 261 to 327.
The active involvement resulted
in a cumulative savings of water
enough to fill 36 Olympic-sized
swimming
pools,
electricity
enough to power almost 40,000
4-room flats for a month, and close
to 3,000 trees.
SEC now administers the 3R
Awards, formerly managed by the
National Environment Agency. We
inspired a participation increase
of more than 100%, from 106 in
2012 to 230 in 2013.
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Creating Impact
Creating Impact
The Singapore Environmental
Achievement Awards (SEAA) is
a premier award that creates
value for the business and public
sectors by providing recognition
to their overall environmental
initiatives and awareness within
organisations.
On 22 August 2013, the awards
ceremony at Conrad Centennial
Singapore was graced by Dr Vivian
Balakrishnan, Minister for the
Environment and Water Resources,
with an attendance of over 270
guests. In its 16th year of running,
the SEAA 2013 grew in its visibility
and impact, achieving a wide
network of outreach across local
and regional coverage in broadcast,
radio, key print and online media
platforms, amounting to a total PR
value of S$277,236.
With a record of six new sponsors
and 10 supporting partners, it was
no surprise to see an increase of
62% in applications to 21.
KUB-Berjaya Enviro demonstrating good water quality testing results
during a site visit
Our valued partners supporting the Asian Environmental Journalism
Awards ceremony 2013
Showcasing all the winners of the SEAA 2013 together with Guest-ofHonour, Dr Vivian Balakrishnan, Minister for the Environment and Water
Resources
The winners of the Asian Environmental Journalism Awards at the 2013
awards ceremony
WINNERS OF THE SEAA 2013:
Setsco Singapore Environmental Achievement Award (Manufacturing)
M Metal Pte Ltd (Merit Winner)
Kimberly-Clark Singapore Environmental Achievement Award (Services)
Keppel Land Limited (Winner)
Keppel DHCS Pte Ltd (Merit Winner)
Lee Foundation Singapore Environmental Achievement Award (Public Sector)
Institute of Technical Education (Winner)
East View Primary School (Merit Winner)
DFS Singapore Environmental Achievement Award (Regional)
KUB-Berjaya Enviro Sdn Bhd
SEC-Senoko Energy Green Innovation Award
Housing & Development Board
CDL Outstanding Singapore Environmental Achievement Award
KUB-Berjaya Enviro Sdn Bhd
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The first Asian Environmental
Journalism Awards (AEJA) in
2012 left such an impact, such
that 2013’s ceremony became a
standalone awards ceremony held
at the InterContinental Singapore.
Dr Yaacob Ibrahim, Minister for
Communications and Information
graced the event on 17 October
2013, alongside 240 guests from
the media industry, and private
and public sectors. With the
creation of two new categories –
Environmental Blogger of the Year
and CITIC Telecom International
Environmental Photograph of
the Year, a threefold increase in
applications were seen through
the new online, totally paperless
process. Regional countries too,
were inspired and joined the
pursuit of high quality journalism
and photojournalism, bringing the
number of participating countries
to 14, up from seven. Out of
84 applications, winners were
selected by a distinguished judging
panel comprising of industry
experts
and
environmental
practitioners.
WINNERS OF THE AEJA 2013:
CDL Environmental Journalist of the Year
Winner: Jing Li (South China Morning Post)
Merit Winners: Neo Chai Chin (TODAY) and Meng Yew Choong (The Star, Malaysia)
Coca-Cola Environmental Story of the Year
Winner: Stella Paul (Thomson Reuters/Alertnet)
Merit Winners: Wang Yan (NewsChina Magazine) and Meng Yew Choong (The Star, Malaysia)
CITIC Telecom International Environmental Photograph of the Year
Winner: KS Sridhar (Vijaya Karnataka Daily)
Merit Winners: Andri Tambunan & Douglas Ho (Lian He Zao Bao)
Environmental Blogger of the Year
Winner: Kavitha Rao (“Terra India” on www.guardian.co.uk)
Merit Winners: Eugene Tay (Green Future Solutions) and Rina Saeed Khan (DAWN Media Group)
Lee Foundation Excellence in Environmental Reporting by a Media Organisation
Winner: Thomson Reuters Foundation
Merit Winner: Eco-Business.com
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Creating Impact
Creating Impact
Position Paper
on Plastic Bag
Usage
Since 2011, the Earth Helpers
have inspired both the public and
corporations with their relentless
volunteerism. Collaborating with
agencies across the island, we
create interactive encounters that
compel individuals to join us in
our monthly Recycling Drives and,
Green Educational Trails.
The Maritime and Port Authority
of Singapore was especially
appreciative of our assistance in
the Coral Relocation Programme.
13 Earth Helpers provided help
both above and underwater, as
surface support personnel and as
divers, to transplant corals from
the sultan shoal to neighboring
islands.
Terrarium making session conducted by Earth Helper, Soh Hwee Yan
Recommendations range from
introducing a ‘Bring Your Own
Bag Everyday’ campaign, to
having
supermarkets
charge
a nominal fee for the issue of
plastic bags. Such funds could
then be redirected to initiate
more programmes on reducing
plastic bag usage. Other proposals
include greater environmental
education in schools, and the reexamining of Singapore’s waste
management infrastructure.
Closer to home, SEC worked
with the National Environment
Agency (NEA) and the North West
Community Development Council
and launched the first-ever ecoaudit for homes on 16 November
2013. Green Homes @ North West
reminds homeowners about the
longer-term positive impact of
using energy-saving appliances
and equipment.
In 2013, a total of 439 Earth
Helpers put their hands together
to help in 30 events, including
25 who are certified under the
NEA Volunteer Empowerment for
Litter Enforcement programme.
The Earth Helpers programme is
vibrant and highly valued, and
has earned the compliments of
Nominated Member of Parliament,
Ms Faizah Jamal, where she was
greatly inspired by the zealous
attitudes of our volunteers when
they met at the Earth Helpers
Appreciation Day held on 13 April
2013.
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On 30 September 2013, SEC
released its first ever Position
Paper, titled ‘Identifying and
mitigating the wastage and
inefficient use of plastic bags in
Singapore’. The 65-page paper
studies the impact of plastic bags
on the environment, through a
mix methodology research on
the public’s perception. A detailed
consolidation of primary and
secondary research has allowed
SEC to put forth a set of 10 valued
recommendations
aimed
at
policymakers, retailers, educators
and the community.
This Position Paper created
newsworthiness and garnered a
PR value of S$181,375.
In collaboration with the North West CDC and Tzu Chi foundation, our
volunteers gather monthly to help sort recyclables donated by residents
SEC also produced a series of
posters in collaboration with the
National Institute of Education,
accompanied by a set of teaching
materials aimed at primary,
secondary schools and junior
colleges.
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Creating Impact
Recycling
Creating Impact
Mr Aleksandar Duric and Mr Amirudin Jamal
advocating the recycling message
Clean Living
Environment
Mr C. Kunalan, Mr Muhammad Iqbal Abdul Rahman, Muhammad
Nur Alfian Juma’En, Mr Muhammad Shakir Juanda and Ms Isabelle Li
promoting a clean living environment
MUHAMMAD NUR ALFIAN JUMA’EN
2013 SEA GAMES GOLD MEDALLIST
MUHAMMAD SHAKIR JUANDA
2012 WORLD PENCAK SILAT CHAMPIONSHIP
GOLD MEDALLIST
MUHAMMAD IQBAL ABDUL RAHMAN
2012 WORLD PENCAK SILAT CHAMPIONSHIP
BRONZE MEDALLIST
LET’S KICK
OUR DIRTY
HABITS!
It is our responsibility to
keep our streets clean.
Dispose litter appropriately and
put our trash where
they belong.
For more information, visit us at WWW.SEC.ORG.SG/GREENCHAMPIONS
Water
Conservation
Energy
Conservation
Mr Mark Chay, Ms Joan Huang and Mr Joseph Schooling
championing water conservation
Mr U.K. Shyam, Mr Keith Saw and Mr Delvin Goh
encouraging energy conservation
JOSEPH SCHOOLING
NATIONAL SWIMMER
2012 SPORTSMAN OF THE YEAR
MULTIPLE SEA GAMES MEDALLIST
MULTIPLE NATIONAL RECORD HOLDER
PUT A
TO THE STOP
DROP!of people around
11% thedo worldnot
have access to
safe drinking water.
Save water
every drop counts!
For more information, visit us at WWW.SEC.ORG.SG/GREENCHAMPIONS
The Green Champions programme was launched on 8 July 2013, with the signing of a Memorandum of Understanding
between SEC and the Singapore National Olympic Council. This landmark partnership leverages on the value and
popularity of sports to nurture environmental awareness and sustainable development to athletes, officials and
sports administration offices.
13 sports role models have been nominated as Green Champions to create the association between sports and
the environment. Prior to our athletes and officials departing for the 27th SEA Games in Myanmar, “Go Green”
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seminars were conducted, with Athlete’s Kits containing a reusable eco-friendly bag, mug, sports towel and cutlery
set distributed.
The Green Champions appeared in a series of specially commissioned posters to inspire the community to conserve
energy and water, to maintain cleanliness and to recycle waste. In an appropriate move, SEC also leveraged on the
Olympic Day Run 2013 held on 13 July 2013, to generate further impact among 2,000 participants.
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Inspiring Values
Administered since 1999, the
Singapore Green Labelling Scheme
(SGLS) is Singapore’s leading
environmental
standard
and
certification mark. Its impact is
felt across 21 countries, in 2,600
products ranging from paints and
surface coatings to detergents
and cleaners. Three new product
criteria covering hand soaps, oxobiodegradable and office furniture
have been included in the latest
update of the SGLS list, inspiring
the signing of a Memorandum of
Understanding with the Singapore
Furniture Industries Council on 19
February 2013.
Being a member of the Global
Ecolabelling Network (GEN) since
2003, the SGLS is audited by GEN
to fulfill ISO 14024 and ISO Guide
65 for the GEN’s Internationally
Coordinated Ecolabelling System
(GENICES). Apart from attending
GEN’s annual meeting in Brussels in
November 2013, SEC participated
in the 4th International Greentech
and Eco Products Exhibition
and Conference in Malaysia
from 10 to 13 October 2013, and
participated in local fairs such as
the International Furniture Fair
Singapore and Office Expo Asia in
March and July 2013 respectively.
The SGLS Secretariat members in a round table discussion with fellow
Global Ecolabelling Network members during the AGM in Brussels, Belgium
Inspiring Values
Eco-Office Presentation Ceremony 2013 graced by Guest-of-Honour, Mr Tan
Chuan-Jin, Minister for Manpower, and Member of Parliament representing
the Marine Parade Group Representation Constituency
Breakout sessions at Global Ecolabeling Network Forum for topic-based
discussions on eco-labels
Engaging our stakeholders at the Eco-Office Presentation Ceremony 2013
Launched in partnership with
City Developments Limited (CDL),
Project: Eco-Office nurtures an
eco-conscious office environment
and inspires environmentally
friendly
workplaces
through
positive behaviour.
Project: Eco-Office is into its 11th
year, and sees 194 certified ecooffices across Singapore. EcoOffice draws active participation
and great impact at both local
and overseas exhibitions and
conferences, such as Office Expo
Asia 2013, 4th International
Greentech and Eco Products
Exhibition
and
Conference
Malaysia and Ricoh Eco Action Day.
We use all forms of social media
tools to expand our outreach,
and have issued 79 certifications
in 2013. With the creation of the
new streamlined Eco-Office selfaudit questionnaire, we stir greater
interest and awareness. We are
greatly inspired to see that all
Post Offices in Singapore are now
certified as Eco-Post Offices.
Stakeholders within the region
value the healthy relationships
maintained between clients in
Malaysia, Vietnam and Indonesia.
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Inspiring Values
As the name suggests, Project:
Eco-Shop raises environmental
awareness within the retail industry.
With this formal accreditation on
display at the shop, both retailers
and customers recognise and
value environmentally friendly
business practices.
Such green practices will impact
shoppers as their awareness of the
environment increases. In turn, less
plastic bags may be used and more
savings are in store as retailers cut
down on utility consumption.
SEC’s Chairman, Ms Isabella Loh, presenting the token of appreciation, a
terrarium, to SMRT’s CEO, Mr Desmond Quek
SMRT tenants at Woodlands
Xchange - Singapore’s first EcoMRT Station - were the pioneer
batch to be certified. Certificates
were presented by Minister for
National Development, Mr Khaw
Boon Wan, during the official
opening ceremony on 4 November
2013.
32 other retailers, along with 13
other shopping mall operators,
see the value of Project: Eco-Shop
and recognise the impact it brings
to the retail sector. A simple selfaudit checklist will constitute the
audit process and assist retailers in
making efficient and well-informed
green decisions.
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Successfully certified Woodlands Xchange tenants with the Minister for
National Development, Mr Khaw Boon Wan at the grand opening of the
Woodlands Xchange
CORPORATE GOVERNANCE
Singapore Environment Council (SEC)’s Board comprises 13 Directors from
the public sector and private companies. Board Directors are appointed
and guided by the principles of SEC’s governing instrument. An Advisory
Committee consisting of 3 advisors provides advice to the Board. Day-today management of SEC is delegated to the management team headed
by the Executive Director.
RESPONSIBILITY OF THE BOARD
The Board ensures that the charity is managed responsibly, according to its governing instrument and its strategic
growth plan, vision and mission. The Board ensures that SEC meets its goals and objectives as an environmental
charity. With effective and efficient systems in place to manage SEC’s financial and human resources, the Board
assumes the vital role of maintaining adequate reporting to all SEC stakeholders.
INTERNAL CONTROLS
Fundraising Practices
The Board undertakes all fundraising practices to be
transparent and ethical, with proper accounting to
donors on the utilisation of funds.
Programme Management
All programmes and activities conducted by SEC are
carefully planned, tracked and reviewed to ensure
that they are aligned to its mission and vision. Each
programme is evaluated for its effectiveness and the
progress is reported to both the Board and programme
donors. Initiation of new programmes will require the
approval of the Board.
Budget Planning and Monitoring
The Board approves the annual budget for SEC’s
programmes.
There is close monitoring of the
expenditure for each programme. Mid-year review
of budget is conducted to compare and adjust the
financial projections.
Disclosure and Transparency
SEC seeks financial management advice from the Board
and complies with all applicable laws and regulations.
Annual external audits are conducted to ensure that
its resources are used responsibly and are accounted
for. Updated information about its mission, structure,
programmes, activities and finances are made available
on SEC’s website.
SEC BOARD, ADVISORY
COMMITTEE AND SUBCOMMITTEES
SEC Board
SEC Board provides independent objective guidance
to the SEC and acts in the best interests of the SEC.
The Board periodically reviews and approves the
objectives of SEC to ensure that the programmes
and operations are managed and directed towards
achieving SEC’s objectives. It acts as advocates and
enthusiastic communicators of SEC’s mission and
vision, and plays an integral role in SEC’s fundraising
activities. It supports and guides SEC’s programmes
and fundraising plans and hence assists the Council in
achieving its long-term strategic plans.
The Compliance Committee monitors the level of
compliance by the SEC, with reference to its governing
instrument and all relevant laws and regulations, and
the administration of donations. It assists the Board
in identifying and reviewing compliance matters
which requires actions or improvements, and makes
recommendations to be taken.
The Compliance Committee convenes as and when
necessary.
Chairman
Professor Leo Tan
3 Board meetings were held in 2013.
Members
Mr Philip Su
Ms Lee Sze Yeng
Mr Michael Toh
Advisory Committee
Green Label Steering Committee
The Advisory Committee provides advice to the
Board on the Council’s activities and roles, including
strategic direction, environmental trends, issues in
the community and development of new policies or
activities.
The Advisory Committee convenes as and when
necessary.
Chairman
Mr George Huang
Members
Mr Dalson Chung
Mr Michael Toh
SEC Sub-Committees
Audit Committee
The Audit Committee reviews the financial information
provided by SEC to the Board, in particular, the critical
accounting policies and practices, the effectiveness of
internal controls over financial reporting and budgeting
to identify, assess, manage and disclose financial risks.
It recommends the selection and appointment of the
external auditor, reviews its audit independence, and
evaluates the audit findings.
4 Audit Committee meetings were held in 2013.
Chairman
Mr Philip Su
Member
Ms Lee Sze Yeng
30
Compliance Committee
The Green Label Steering Committee provides
professional advice on improving the Green Label,
guides new category developments and monitors the
impartiality of the certification process It helps in the
development of service delivery mechanisms relating
to lab tests, applications and assessments, and
programme evaluations.
The Green Label Steering Committee convenes as
and when necessary.
Chairman
Mr Philip Su
Member
Mr Neil Glenn
Nomination Committee
The Nomination Committee identifies, facilitates and
recommends potential Board Directors. It ensures
that the Board consists of a good mix of independent
members from the various industries, with the capacity
to contribute their expertise, knowledge and skills.
The Nomination Committee convenes as and when
necessary.
Chairman
Ms Isabella Loh
Members
Dr Teo Ho Pin
Mr J.B. Rae-Smith
31
Remuneration Committee
The Remuneration Committee assists the Board in
establishing equitable remuneration and human
resource policies and practices. It enables SEC to attract,
retain and develop talent by ensuring its employees
are fairly rewarded according to performance and the
external remuneration environment. The Committee
also reviews and makes recommendations to the Board
on SEC’s compliance with legislative requirements such
as the Employment Act.
The Remuneration Committee convenes as and
when necessary.
Chairman
Ms Isabella Loh
Members
Dr Teo Ho Pin
Mr J.B. Rae-Smith
Strategic Marketing & Communications
Committee
The Strategic Marketing & Communications Committee
provides advice on managing stakeholder relationships
and marketing strategies to maximise the branding and
revenue opportunities for SEC. It helps identify potential
partnership/sponsorship opportunities for SEC’s
programmes through a combination of professional
connections and networks.
The Strategic Marketing & Communications
Committee convenes as and when necessary.
Chairman
Mr Robert Yap
Member
Ms Ming Tan
32
Tender Committee
The Tender Committee advises SEC on procurement
matters to ensure that the process is transparent,
competitive and free of any conflicts of interest. The
Committee decides on the approval of or waiving of
the tender requirements for procurement of services
or goods, according to the SEC’s Financial Policies and
Procedures. It also guides and periodically reviews the
procurement strategies, guidelines and policies.
The Tender Committee convenes as and when
necessary.
Chairman
Ms Isabella Loh
Members
Ms Lee Sze Yeng
Mr Philip Su
SINGAPORE ENVIRONMENT COUNCIL
(LIMITED BY GUARANTEE)
(Incorporated in Singapore. Unique Entity Number (“UEN”):
199507762R)
DIRECTORS’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2013
The directors present their report to the members
together with the audited financial statements of the
Singapore Environment Council (the “Council”) for the
financial year ended 31 December 2013.
DIRECTORS
The directors in office at the date of this report are as
follows:-
Chairman
Ms Isabella Loh Wai Kiew
Vice-Chairman
Prof. Leo Tan Wee Hin
Dr. Teo Ho Pin
Board Members
Su Poon Ghee Philip
Dr. Leong Chee Chiew
Dr. Tan Shu Ming Patricia
John Bruce Rae-Smith
Lee Sze Yeng
Tan Wee Hock
De Mello Linda Dorothy
Susan Mary De Silva (resigned on 30 Nov 2013)
Ng Wun Jern
Yap Min Choy
Directors’ contractual benefits
Except as disclosed in the financial statements, since
the end of the last financial year, no director of the
Council has received or become entitled to receive
a benefit which is required to be disclosed under
Section 201(8) of the Companies Act, Cap. 50, by
reason of a contract made by the Council or a related
corporation with the director or with a firm of which
the director is a member or with a Company in which
the director has a substantial financial interest.
Share options
Directors’ interests in shares or debentures
The Council is a company limited by guarantee
whereby each member of the Council undertakes to
meet the debts and liabilities of the Council, in the
event of its liquidation, to an amount not exceeding
$1 per member. There were no shares or debentures
in issue in the Council at the end of the financial year.
34
STATEMENT BY DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2013
In the opinion of the Board of Directors,
a. the accompanying statement of financial posi-
tion, statement of financial activities/ comprehensive income, statement of changes in fund and
statement of cash flows together with the notes
thereto are drawn up so as to give a true and fair
view of the state of affairs of the Council as at
31 December 2013 and of the results, changes in
funds and cash flows of the Council for the financial year ended 31 December 2013, and
b. at the date of this statement, there are reasonable grounds to believe that the Council will be
able to pay its debts as and when they fall due.
On behalf of the Board of Directors,
The Council is a company limited by guarantee. As
such, there are no share options or unissued shares
under option.
Independent auditors
The independent auditor, S. K. Cheong & Co., have
expressed its willingness to accept re-appointment.
............................................................
ISABELLA LOH WAI KIEW
Chairman
On behalf of the Board of Directors,
............................................................
ISABELLA LOH WAI KIEW
Chairman
............................................................
PHILIP SU POON GHEE
Director
Singapore 7 May 2014
Arrangements to enable directors to acquire
shares or debentures
The Council is a company limited by guarantee
and has no share capital. None of the directors
holding office at the end of the financial year had
an interest in the share capital of the Council that is
to be reported pursuant to Section 201(6)(g) of the
Singapore Companies Act, Cap.50.
............................................................
PHILIP SU POON GHEE
Director
35
INDEPENDENT AUDITORS’
REPORT TO THE MEMBERS OF
SINGAPORE ENVIRONMENT
COUNCIL
Report on the Financial Statements
We have audited the accompanying financial statements
of Singapore Environment Council (the “Council”) set
out on pages six to 29, which comprise the statement
of financial position as at 31 December 2013, and
the statement of financial activities/comprehensive
income, statement of changes in fund and statement
of cash flows for the year then ended, and a summary
of significant accounting policies and other explanatory
information.
Management’s Responsibility for the Financial
Statements
Management is responsible for the preparation of
financial statements that give a true and fair view
in accordance with the provisions of the Singapore
Companies Act, Chapter 50 (the “Act”), the Singapore
Charities Act, Chapter 37 (the “Charities Act”) and
Singapore Financial Reporting Standards, and
for devising and maintaining a system of internal
accounting controls sufficient to provide a reasonable
assurance that assets are safeguarded against loss
from unauthorised use or disposition; and transactions
are properly authorised and that they are recorded as
necessary to permit the preparation of true and fair
profit and loss accounts and balance sheets and to
maintain accountability of assets.
Auditor’s Responsibility
Our responsibility is to express an opinion on these
financial statements based on our audit. We conducted
our audit in accordance with Singapore Standards on
Auditing. Those standards require that we comply
with ethical requirements and plan and perform the
audit to obtain reasonable assurance about whether
the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures
in the financial statements. The procedures selected
depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of
the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s
preparation and fair presentation of the financial
statements in order to design audit procedures that
36
are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness
of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates
made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our
audit opinion.
Opinion
In our opinion, the financial statements are properly
drawn up in accordance with the provisions of the Act,
the Charities Act and Singapore Financial Reporting
Standards so as to give a true and fair view of the state
of affairs of the Council as at 31 December 2013 and the
results, changes in fund and cash flows of the Council
for the year ended on that date.
Report on Other Legal and Regulatory Requirements
In our opinion, the accounting and other records
required by the Act to be kept by the Council have been
properly kept in accordance with the provisions of the
Act.
During the course of our audit, nothing has come to our
attention that causes us to believe that during the year:
a. The use of the donation moneys was not in
accordance with the objectives of the Council
as required under regulation 16 of the Charities
(Institutions of a Public Character) Regulations;
and
STATEMENT OF FINANCIAL POSITION
As at 31 December 2013
Note
2013
$
2012
$
4
97,973
97,973
130,423
130,423
5
279,414
394,619
16,984
7,765
6
337,667
634,065
732,038
516,416
918,800
1,049,223
7
151,863
210,679
Total current liabilities
151,863
210,679
Net current assets
482,202
708,121
Total Net assets
580,175
838,544
580,175
838,544
ASSETS
Non-current assets
Plant and equipment
Total non-current assets
Current assets
Trade and other receivables
Prepayments
Cash and cash equivalents
Total current assets
Total assets
Current liabilities
Trade and other payables
The funds of the charity
Unrestricted funds
Accumulated general funds
8
b. The Council has not complied with the
requirements of regulation 15 (Fund-raising
expenses) of the Charities (Institutions of a Public
Character) Regulations.
The accompanying notes form an integral part of these financial statements.
............................................................
S. K. CHEONG & CO.
Public Accountants and
Chartered Accountants
37
STATEMENT OF FINANCIAL ACTIVITIES / COMPREHENSIVE INCOME
For the year ended 31 December 2013
Note
Unrestricted funds
2013
2012
$
$
Incoming Resources
Incoming resources from generated funds
Voluntary income
Donations
9
137,147
26,741
56,612
159,917
10
282,588
411,879
11
2,028,061
2,088,790
19,809
1,727
Charitable income
Miscellaneous income
Other incoming resources
Disbursement charges
Gain on foreign exchange
Total incoming resources
5
-
1,979
35
2,524,222
2,691,068
1,018,769
983,116
Resources expended
Costs of generating funds
Programme expenses
12
38
Note
Expenses
Advertising
Grant from National Environment Agency
Sponsorships
Activities for generating funds
Programme receipts
(CONTINUED)
Audit fee
Awards and recognition
Bank charges
Chairman’s car park fees
Commission charges
CPF contribution
Dental fees
Depreciation of plant and equipment
Donation
Employee medical benefits
Entertainment
General expenses
Gifts and representation
Groceries and refreshment
Insurance
Legal and professional fees
Office supplies
Postage
Printing and stationery
Rent of office
Rental of office equipment
Rental of storage
Repair and maintenance
Salaries and bonus
Secretarial fees
Staff training cost
Staff welfare
4
Unrestricted funds
2013
2012
$
$
5,017
3,403
3,500
3,250
2,400
3,313
900
20
170,452
1,500
41,958
8,434
6,330
1,565
3,112
2,247
8,354
38,180
515
230
13,062
114,586
5,354
2,593
8,990
1,199,232
24,135
2,569
2,400
2,833
690
143,641
34,937
25,000
9,944
5,106
3,349
1,875
2,913
4,106
7,900
741
3,404
26,797
122,703
5,354
16,272
1,034,376
24,226
13,405
670
39
(CONTINUED)
STATEMENT OF CHANGES IN FUND
For the financial year ended 31 December 2013
Note
Other operating and administration expenses
Subscription
Telephone and facsimile
Transportation and travel
Utilities
Website expenses
Total resources expended
Net (outgoing)/incoming resources
representingtotal comprehensive
income
for the year
Unrestricted funds
2013
2012
$
$
4,994
31,166
13,308
9,456
36,350
1,763,822
2,782,591
(258,369)
40
7,082
34,516
17,634
9,486
5,226
1,573,239
2,556,355
134,713
Accumulated
general
fund
$
Total
Fund
838,544
838,544
(258,369)
(258,369)
580,175
580,175
703,831
703,831
134,713
134,713
838,544
838,544
$
2013
Balance at beginning of the year
Net outgoing resources, representing total
comprehensive loss for the year
Balance at end of the year
2012
Balance at beginning of the year
Net outgoing resources, representing total
comprehensive loss for the year
Balance at end of the year
41
STATEMENT OF CASH FLOWS
Note
2013
$
2012
$
(258,369)
134,713
41,958
(216,411)
34,937
169,650
105,986
(58,816)
(227,284)
121,497
Cash generated from operations
(169,241)
63,863
Net cash provided by operating activities
(169,241)
63,863
Cash flows from operating activities
Net (outgoing)/incoming resources for the year
Adjustments for:
Depreciation of plant and equipment
4
Changes in working capital:
Cash flows from investing activities
Purchase of plant and equipment
Net cash used in investing activities
4
Cash flows from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
6
(9,508)
(9,508)
(142,629)
(142,629)
-
-
(178,749)
516,416
337,667
(78,766)
595,182
516,416
NOTES TO THE FINANCIAL
STATEMENTS
Interpretations and amendments to published
standards effective in 2013
These notes form an integral part of and should be
read in conjunction with the accompanying financial
statements.
On 1 January 2013, the Council has adopted all the
new and revised standards and Interpretations of FRS
(“INT FRS”) that are mandatory for application for the
financial year. The adoption of these standards and
interpretations did not have any significant effect on
the financial performance or position of the Council.
1.
General information
Singapore Environment Council (the “Council”) was
incorporated in Singapore as a company limited by
guarantee whereby each member of the Council
undertakes to meet the debts and liabilities of the
Council, in the event of its liquidation, to an amount not
exceeding $1 per member.
The Council was registered with ACRA on 2 November
1995. Its registered office is at 1 Kay Siang Road, #0402 Singapore 248922.
The Council has been registered as a charity under
the Charities Act, (Cap. 37) since 5 March 1996 and has
Institution of Public Character status from 1 November
2012 to 31 October 2015. It is an independently
managed, non-profit, non-government organisation
and principally engaged in the nurturing, facilitating
and coordinating of environment causes and groups
in and outside Singapore, working hand-in-hand with
both government and private sectors.
The Council’s objective is the promotion of greater
public awareness of and concern for the living and
natural environment, and to encourage members
of the public to be more environmentally conscious.
There have been no significant changes in the principal
activities of the Council.
2.
Summary of significant accounting policies
2.1
BASIS OF PREPARATION
The financial statements have been prepared in
accordance with Singapore Financial Reporting
Standards (“FRS”) under the historical cost basis except
as disclosed in the accounting policies below.
The preparation of financial statements in conformity
of FRS requires management to exercise its judgement
in the process of applying the Council’s accounting
policies. It also requires the use of certain critical
accounting estimates and assumptions. The areas
involving a higher degree of judgement or complexity,
or areas where assumptions and estimates are
significant to the financial statements, as disclosed in
Note 3.
42
New or amended standards and interpretations
Certain
new
standards,
amendments
and
interpretations to existing standards have been
published and are mandatory for the Council’s
accounting periods beginning on or after 1 January 2014
or later periods and which the Council has not early
adopted. The Council does not expect the adoption of
these accounting standards or interpretations to have
a material impact on the Council’s financial statements.
2.2
CURRENCY TRANSLATION
Items included in the financial statements are
measured using the currency of the primary economic environment in which the entity operates
(“functional currency”). The financial statements are
presented in Singapore dollars, which is the functional
currency of the Council.
Transactions in foreign currencies are measured in the
functional currency determined by the Council and
are recorded on initial recognition in the functional
currency at exchange rates approximating those ruling
at the transaction dates. Monetary assets and liabilities
denominated in foreign currencies are translated at
rate of exchange ruling at the end of each reporting
period.
Exchange differences arising on the settlement of
monetary items or on translating monetary items at
the end of each reporting period are recognised in
the statement of financial activities/comprehensive
income.
Non-monetary items that are measured in terms of
historical cost in a foreign currency are translated using
the exchange rates as at the dates of initial transactions.
Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the
date when the fair value was determined.
2.3 PLANT AND EQUIPMENT
All items plant and equipment are initially recorded
at cost. The cost of an item of plant and equipment
is recognised as an asset if, and only if, it is probable
that future economic benefits associated with the item
will flow to the Council and the cost of the item can be
43
measured reliably.
Subsequent to recognition, plant and equipment are
measured at cost less accumulated depreciation and
accumulated impairment losses. When significant
parts of plant and equipment are required to be
replaced in intervals, the Council recognises such
parts as individual assets with specific useful lives and
depreciation, respectively. Likewise, when a major
inspection is performed, its cost is recognised in the
carrying amount of the plant and equipment as a
replacement if the recognition criteria are satisfied. All
other repair and maintenance costs are recognised in
the statement of financial activities/ comprehensive
income as incurred.
Depreciation is computed on a straight-line basis over
the estimated useful lives of the assets as follows:
Equipment3 years
Furniture and fittings
3 years
Renovation5 years
The carrying values of plant and equipment are
reviewed for impairment when events or changes in
circumstances indicate that the carrying value may not
be recoverable.
The residual value, useful life and depreciation method
are reviewed at the end of each reporting period, and
adjusted prospectively, if appropriate.
An item of plant and equipment is derecognised upon
disposal or when no future economic benefits are
expected from its use or disposal. Any gain or loss on
derecognition of the asset is included in the statement
of financial activities/ comprehensive income in the
year the asset is derecognised.
There are no items of plant and equipment acquired in
full or in part from the proceeds of a grant.
Where functional items of plant and equipment have
been donated, they are included in the statement of
financial position at their fair value at the date of the
gift and also included in the statement of financial
activities/comprehensive income as an incoming
resource. Accounting policies for the valuation of gifts
are disclosed in Note 2.12(iii).
2.4
FINANCIAL ASSETS
The Council classifies its financial assets in the following
categories: (i) at fair value through profit or loss, (ii)
loans and receivables, (iii) held-to-maturity and (iv)
available-for-sale. The classification depends on the
nature of the assets and the purpose for which the
assets were acquired. Management determines the
classification of its financial assets at initial recognition
and in the case of assets classified as held-to-maturity,
44
re-evaluates this designation at each balance sheet
date. The Council did not hold any financial assets
under categories (i), (iii) and (iv).
Loans and receivables
Loans and receivables are non-derivative financial
assets with fixed or determinable payments that are
not quoted in an active market. They are presented as
current assets, except for those expected to be realised
later than 12 months after the balance sheet date
which are presented as non-current assets. Loans and
receivables comprise trade and other receivables and
cash and cash equivalents.
Regular way purchases and sales of financial assets
are recognised on trade date - the date on which the
Council commits to purchase or sell the asset. Financial
assets are derecognised when the rights to receive
cash flows from the financial assets have expired or
have been transferred and the Council has transferred
substantially all risks and rewards of ownership. On
disposal of a financial asset, the difference between the
carrying amount and the sale proceeds is recognised
in profit or loss. Any amount in other comprehensive
income relating to that asset is reclassified to profit or
loss.
Financial assets are initially recognised at fair value
plus transaction costs except for financial assets at fair
value through profit or loss, which are recognised at
fair value. Transaction costs for financial assets at fair
value through profit or loss are recognised immediately
as expenses. Loans and receivables are subsequently
carried at amortised cost using the effective interest
method.
The Council assesses at each balance sheet date
whether there is objective evidence that a financial
asset or a group of financial assets is impaired and
recognises an allowance for impairment when such
evidence exists.
Significant financial difficulties of the debtor, probability
that the debtor will enter bankruptcy, and default or
significant delay in payments are objective evidence
that these financial assets are impaired.
The carrying amount of these assets is reduced through
the use of an impairment allowance account which
is calculated as the difference between the carrying
amount and the present value of estimated future cash
flows, discounted at the original effective interest rate.
When the asset becomes uncollectible, it is written off
against the allowance account. Subsequent recoveries
of amounts previously written off are recognised
against the same line item in profit or loss.
The impairment allowance is reduced through profit
or loss in a subsequent period when the amount of
impairment loss decreases and the related decrease
can be objectively measured. The carrying amount of
the asset previously impaired is increased to the extent
that the new carrying amount does not exceed the
amortised cost had no impairment been recognised in
prior periods.
2.5
OFFSETTING FINANCIAL INSTRUMENTS
Financial assets and liabilities are offset and the net
amount reported in the balance sheet
when
there is a legally enforceable right to offset and there
is an intention to settle on a net basis or realise
the asset and settle the liability simultaneously.
2.6
CASH AND CASH EQUIVALENT
Cash and cash equivalents comprise cash at bank that
are readily convertible to known amount of cash and
which are subject to an insignificant risk of changes in
value.
Cash and cash equivalents are classified and accounted
for as loans and receivables.
2.7 LEASES
The determination of whether an arrangement is,
or contains a lease is based on the substance of the
arrangement at inception date: whether fulfillment of
the arrangement is dependent on the use of a specific
asset or assets or the arrangement conveys a right to
use the asset.
The Council leases office space, office equipment and
storage space under operating leases.
Operating lease payments are recognised as an
expense in profit or loss on a straight-line basis over
the lease term. The aggregate benefit of incentives
provided by the lessor is recognised as a reduction of
rental expense over the lease term on a straight-line
basis.
2.8 TRADE AND OTHER PAYABLES
Trade and other payables represent liabilities for goods
and services provided to the Council prior to the end of
the financial year which are unpaid. They are classified
as current liabilities if payment is due within one year or
less (or in the normal operating cycle of the business if
longer). Otherwise, they are presented as non-current
liabilities.
Trade and other payables are initially recognised at
fair value, and subsequently carried at amortised cost
using the effective interest method.
2.9
IMPAIRMENT OF NON-FINANCIAL ASSETS
Plant and equipment
Plant and equipment are tested for impairment
whenever there is any objective evidence or indication
that these assets may be impaired. For the purpose
of impairment testing, the recoverable amount (i.e. the
higher of the fair value less cost to sell and the value-inuse) is determined on an individual asset basis unless
the asset does not generate cash inflows that are
largely independent of those from other asset. If this is
the case, the recoverable amount is determined for the
cash-generating-unit (CGU) to which the asset belongs.
If the recoverable amount of the asset (or CGU) is
estimated to be less than its carrying amount, the
carrying amount of the asset (or CGU) is reduced to its
recoverable amount.
The difference between the carrying amount and
recoverable amount is recognised as an impairment
loss in profit or loss. An impairment loss is reversed
only if, there has been a change in the estimates
used to determine the asset’s recoverable amount
since the last impairment loss was recognised. The
carrying amount of this asset is increased to its revised
recoverable amount, provided that this amount does
not exceed the carrying amount that would have been
determined (net of any accumulated amortisation or
depreciation) had no impairment loss been recognised
for the asset in prior years.
2.10PROVISIONS
Provisions are recognised when the Council has
present obligation (legal or constructive) as a result of
a past event, it is probable that an outflow of resources
embodying economic benefits will be required to settle
the obligation and the amount of the obligation can be
estimated reliably.
Provisions are reviewed at the end of each reporting
period and adjusted to reflect the current best estimate.
If it is no longer probable that an outflow of economic
resources will be required to settle the obligation, the
provision is reversed. If the effect of the time value of
money is material, provisions are discounted using a
current pre tax rate that reflects, where appropriate,
the risks specific to the liability. When discounting is
used, the increase in the provision due to the passage
of time is recognised as a finance cost.
2.11 EMPLOYEE BENEFITS
Defined contribution plans
The Council makes contributions to the Central
Provident Fund scheme in Singapore, a defined
45
contribution pension scheme which are recognised as
an expense in the period in which the related service
is performed. The Council has no further payment
obligations once the contributions have been paid.
Short-term employee benefits
Short-term employee benefit obligations are measured
on an undiscounted basis and are expensed as the
related service is provided.
A liability is recognised for the amount expected to be
paid under short-term cash bonus or profit-sharing
plans if the Council has a present legal or constructive
obligation to pay this amount as a result of past service
provided by the employee, and the obligation can be
estimated reliably.
2.12 INCOMING RESOURCES FROM GENERATED FUNDS
All incoming resources are included in the statement of
financial activities/comprehensive income to the extent
that it is probable that the economic benefits will flow to
the Council and the amount can be reliably measured.
No amounts are included for services donated by
volunteers. Incoming resources from generated funds
comprise:
Voluntary income
(i)
Donations/Sponsorships
(ii)
Grants
46
(iii)
Donations/Sponsorships are taken
up and accrued as and when
they are committed.
Those
uncommitted donations/sponsorships
are recognised on receipt basis.
Such grants are provided by National
Environment Agency for funding
of approved projects that promote
environmental
awareness.
These
grants are recognised where there is
reasonable assurance that the grant will
be received and all attaching conditions
will be complied with.
When the grant relates to an expense
item, it is recognised in the profit or loss
over the period necessary to match
them on a systematic basis to the
costs that it is intended to compensate.
Grants related to income are presented
as a credit in the profit or loss.
Donations in kind
Donations in kind are recognised based
on an estimate of the fair value at the
date of the receipt of the donation of
the non-monetary asset or the grant
of a right to a monetary asset. The
donation is recognised if the amount of
the gift can be measured reliably and
there is no uncertainty that it will be
received.
Activities for generating funds
Proceeds from such activities are recognised in the
period in which the event takes place. Any sales of
merchandise are accounted for when the transaction
occurs.
Investment income
Investment income comprises interest income
on funds invested. Interest income is recognised on
a time proportion basis, using the effective interest
method.
2.13
RESOURCES EXPENDED
Resources expended comprise the followings:
Cost of generating funds
Cost of generating funds includes the costs of activities
carried out to generate incoming resources, which will
be used to undertake charitable activities.
Charitable activities expenses
Charitable activities include both direct and related
support costs that are related to running of the Council,
and generating funds and service delivery.
2.14
FUNDS STRUCTURE
(i)
Unrestricted funds
(ii)
Unrestricted funds are funds that
are expendable at the discretion of
the Council for achieving their overall
objectives.
Restricted funds
Restricted funds are funds that are set
up for specific purposes which may be
imposed by the donor or have specific
restriction on the management’s
discretion regarding the utilisation of
the funds.
Related parties
A party is considered to be related to the Council if:
(a)
The party, directly or indirectly through one or
more intermediaries,
(i) controls, is controlled by, or is under common control with, the Council;
(ii)
has an interest in the Council that gives
it significant
influence
over the Council; or
(iii)
has joint control over the Council;
(b)
The party is an associate;
(c)
The party is a jointly-controlled entity;
(I)
Critical judgements made in applying accounting policies
In the process of applying the Council’s accounting
policies, the management is of the opinion that there are
no critical judgements involved that have a significant
effect on the amounts recognised in the financial
statements (apart from those involving estimations).
(II)
Key sources of estimation uncertainty
The key assumptions concerning the future and other
key sources of estimation uncertainty at the end of
each reporting period, that have a significant risk of
causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year
are discussed below.
(i)
(d)
The party is a member of the key management personnel of the Council or its
parent;
Useful lives of plant and equipment
(e)
The party is a close member of the family of
any individual referred to in (a) or
(d);
(f)
The party is an entity that is controlled, jointly controlled or significantly influenced by
or for which
significant voting power in such entity resides
with,
directly or indirectly, any individual referred to
in (d)
or (e); or
3. Significant accounting judgements and estimates
The preparation of the Council’s financial statements
requires Management to make judgements, estimates
and assumptions that affect the reported amounts of
incoming resources, expenses, assets and liabilities,
and the disclosure of contingent liabilities at the end
of the reporting period. However, uncertainty about
these assumptions and estimates could result in
outcomes that could require a material adjustment to
the carrying amount of the asset or liability affected in
the future periods.
(ii)
Plant and equipment are depreciated on
a straight-line basis over the estimated
useful lives. Management estimates
the useful lives of these assets to
be within 3 to 5 years. The carrying
amount of the Council’s property,
plant and equipment at 31 December
2013 was $97,973 (2012: $130,423).
Changes in the expected level of usage
and technological developments could
impact the economic useful lives and
the residual values of these assets,
therefore future depreciation charges
could be revised.
Impairment for trade receivables
The determination of the allowance
for impairment of the Council’s
receivables is based on the evaluation
of collectability and ageing analysis
of accounts receivables, including
the current credit worthiness and
the past collection history of each
customer. If the financial conditions of
the customers of the Council were to
deteriorate, resulting in an impairment
of their ability to make payments,
additional impairment loss may be
required. The carrying amount of trade
receivables at 31 December 2013 was
$185,244 (2012: $197,532).
The Council does not have any restricted funds.
47
4.
Plant and equipment
Cost
2013
5.
Office
equipment
Furniture
and fittings
$
$
Renovation
$
Total
$
Trade receivables
At 1 January
88,996
19,859
115,765
224,620
Additions
Disposal
At 31 December
4,760
93,756
4,748
24,607
115,765
9,508
234,128
2012
At 1 January
Additions
Disposal
At 31 December
63,625
25,371
88,996
15,289
4,570
19,859
3,077
112,688
115,765
81,991
142,629
224,620
2012
At 1 January
Depreciation charge for the year
Disposal
At 31 December
Net carrying amount
At 31 December 2013
At 31 December 2012
Deposits
Program funding receivable
2013
2012
$
185,244
$
197,532
37,558
56,612
279,414
39,644
157,443
394,619
Trade and other receivables are denominated in Singapore Dollar.
Trade receivables
Trade receivables are non-interest bearing and are generally on 30 days terms. They are recognised at their original
invoice amounts which represent their fair values on initial recognition.
Trade receivables that are past due but not impaired
As at 31 December 2013, the Council has trade receivables amounting to $42,017 (2012: $82,115) that are past due at
the end of the reporting period but not impaired. These receivables are unsecured and the analysis of their ageing
at the end of the reporting period is as follow:
Accumulated depreciation
2013
At 1 January
Depreciation charge for the year
Disposal
At 31 December
58,666
16,189
74,855
16,177
2,743
18,920
19,354
23,026
42,380
94,197
41,958
136,155
2013
2012
$
$
143,227
115,417
Past due 1 - 30 days
5,885
74,551
Past due 31 - 60 days
More than 60 days
35,062
1,070
7,564
-
185,244
197,532
Trade receivables past due but not impaired
Not past due
42,338
16,328
58,666
18,901
30,330
15,087
1,090
16,177
5,687
3,682
1,835
17,519
19,354
73,385
96,411
59,260
34,937
94,197
97,973
130,423
Based on historical default rates, the Council believes that no impairment allowance is necessary in respect of
receivables at the end of the reporting period. These receivables are mainly arising by customers that have a good
record with the Council.
Other receivables
Other receivables are unsecured, non-interest bearing and repayable on demand.
48
49
6.
10.
Cash and cash equivalents
Cash in hand
Cash at bank
2013
$
500
2012
$
500
337,167
337,167
515,916
516,416
2013
$
14,173
2012
$
198
1,747
92,063
12,500
31,380
151,863
770
103,287
65,569
40,855
210,679
Funds are credited to income from sponsors
for the following programmes:
Asian Environment Journal Awards
Eco - Office
Eco - Shop
Singapore Green One
Shell Eco-Marathon
Singapore Green Label
Singapore Environment Council Calendar
Singapore Environmental Achievement Awards
Cash and cash equivalents are denominated in Singapore Dollar.
7.
Trade payables
Other payables
Accruals
Income received in advance
Net GST payable
Sponsorships
11.
Trade and other payables are non-interest bearing and are normally settled on 60 days terms.
Active Beautiful Clean Waters Learning Trails
8.
Ad-hoc project
Eco - Food Court
The Council is prohibited by its Memorandum and Articles of Association from distributing any of its income and
property by way of dividend, bonus or otherwise to members of the Council.
9. Donations
Tax exempt donations
Non-tax exempt donations
50
2013
$
66,193
2012
$
20,198
70,954
137,147
6,543
26,741
2012
$
$
47,500
20,000
20,000
60,000
45,088
90,000
282,588
26,000
135,000
116,904
30,500
43,475
60,000
411,879
2013
2012
$
363,725
$
254,488
390
6,000
2,000
108,200
10,800
19,500
-
73,500
16,716
1,164
1,507,782
10,500
2,028,061
480
1,728,242
13,364
2,088,790
Programme receipts
Trade and other payables are denominated in Singapore Dollar.
Accumulated general fund
2013
Eco - Office
Eco - Shop
Green Homes
Singapore Green One
Talk/ Workshop
Singapore Green Label Scheme
Singapore Environmental Achievement Award
51
12.
13. Programme expensess
Income tax
Key management personnel compensation
The Council is an approved charity under the Charities
Act, Cap 37 and an institution of public character under
the Income Tax Act, Cap. 134.
2013
$
23,691
2012
$
862
238,312
152,907
Asian Environmental Journal Awards
69,384
28,165
Bring Your Own Bag Day
24,801
56
Community Recycling
7,629
3,287
Earth Helper
1,544
4,861
14.Commitments
-
1,780
3,144
1,334
115,205
149,788
-
2,478
20,302
-
At the end of the reporting period, the Council has noncancellable lease commitments for the lease of office
premises and office equipment. The lease of both office
premises and office equipment will expire in 2015. The
lease agreements have no clause for revision of rental
charge.
-
1,659
Green Champions
34,046
-
Green Homes
30,331
-
1,782
361,676
-
20,939
5,870
3,314
Singapore Green Award (SGA)
83,902
-
Shell Eco-Marathon
41,340
-
Singapore Green Summit (SEAA)
143,069
125,230
Singapore Green Label Scheme
176,475
118,422
845
1,358
1,021,672
978,116
(2,903)
1,018,769
5,000
983,116
Ad Hoc Projects
Active Beautiful Clean Waters Learning Trails
Earth Station Project
Eco-Food Court
Eco-Office Project
Eco-School
Eco-Shop
Eco-Retailer
Singapore Green One
School Green Audit Awards (SGAA)
Singapore Environment Council Calendar
Others *
Write (back)/off of Programme expenses
*For amount less than $1,000, they are grouped under “Others”
With effect from Year of Assessment 2008, all registered
charities will enjoy automatic income tax exemption
without having the need to meet the 80% spending
rule. Thus the Council is exempt from Income Tax.
2013
$
Payment recognised
as an expense during
the year: Minimum
lease payments
under operating
leases
2012
$
15.
122,533
128,057
2013
$
119,940
2012
$
119,940
26,667
146,607
153,317
273,257
Related parties
Parties are considered to be related to the Council if
the Council has the ability, directly or indirectly, to
control the party or exercise significant influence over
the party in making financial and operating decisions,
or vice versa, or where the Council and the party are
subject to common control or common significant
influence. Related parties may be individuals or other
entities.
52
Key management personnel compensation is as
follows:
Salaries, bonus and
other short-term
benefits
Central provident
funds contributions
2013
$
2012
$
357,306
322,716
49,189
406,495
41,635
364,351
The details of remuneration and benefits of employees
(including key management personnel) are as follows:
The future minimum lease payable under noncancellable operating leases contracted for at 31
December but not recognised as liabilities, are as
follows:
Within 12 months
After 12 months but
within 5 years
Key management personnel of the Council are those
persons having the authority and responsibilities for
planning, directing and controlling the activities of the
Council. The Council comprises board of directors who
are volunteers and they do not receive remuneration
as well as key executives who are not board of directors
that receive remuneration.
2013
2012
4
1
5
1
1
2
Number of employees in bands:
$50,001 to $100,000
$100,001 to $150,000
Other related party transactions
Other than disclosed elsewhere in the financial
statements, transactions with related parties are as
follows:
2013
$
2012
$
Revenue
Donations received
from a related party
48,750 *
3,000
Expenses
Expenses paid to a
related party
34,626
24,811
*Included $22,222 of donation received as agreed by
the donor firm in 2012.
53
16.
Financial risk management objectives and
vpolicies
The Council is exposed to financial risks arising from its
operations and the use of financial instruments. The
key financial risks include interest rate risk, liquidity
risk, foreign currency risk and credit risk. The overall
strategies, its tolerance of risks and its general risk
management philosophy are governed by the Board
and executed by management.
The following sections provide details regarding the
Council’s exposure to the above-mentioned financial
risks and the objectives, policies and processes for the
management of these risks:
(a)
Market risk
Market risk includes currency risk, price risk and interest
rate risk. The Council is not exposed to significant
market risk.
(b)
Credit risk
The Council’s credit risk arises from trade and other
receivables.
Management has a credit policy in place and the
exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all
customers requiring credit over a certain amount and
outstanding debts are reviewed on an on-going basis.
The Council does not require collateral in respect of
financial assets.
The Council has no significant concentration of credit
risk with any single customer or group of customers.
The maximum exposure to credit risk is represented
by the carrying amount of each financial asset in the
balance sheet after deducting any impairment losses.
(i)
Financial assets that are neither past due nor impaired
54
Trade and other receivables that are
neither past due nor impaired are
with creditworthy debtors with good
payment record with the Council. Cash
and cash equivalents that are neither
past due nor impaired are placed with
or entered into with reputable financial
institutions with high credit ratings and
no history of default.
(ii) Financial assets that are past due and/
or
impaired
(c)
Information regarding financial assets
that are either past due or impaired is
disclosed in Note 5 (Trade and other
receivables).
Liquidity risk
Liquidity risk refers to the risks in which the Council
encounters difficulties in meeting its short-term
obligations.
The Council’s financial liabilities at the end of the
reporting period are to be paid within one year. The
Council manages liquidity risks through monitoring
and maintaining levels of cash and bank balances
deemed adequate to finance the Council’s operations
and mitigate the effect of fluctuations in cash flows.
17.
Fair value of financial instruments
Management considers that the carrying amounts of
financial assets and financial liabilities in the financial
statements approximate their fair values because of
their short-term maturities.
18.
Capital management
The Council defines “capital” to be the unrestricted
general funds. The primary objective of the Council is
to ensure that it maintains a healthy capital position
through donations, sponsorship, programme receipts
and government grants to sustain its operations and
charitable activities.
There are no changes in the Council’s approach to
capital management during the year.
19.
Authorisation of financial statements
The financial statements were authorised for issue in
accordance with a resolution of the Board of Director
of the Council on 7 May 2014.
1 Kay Siang Road, #04-02
SIngapore 248922
Website: www.sec.org.sg
Tel: 6337 6062
SingaporeEnvironmentCouncil
@SECSingapore
SECSingapore

Annual Report 2013 - Singapore Environment Council

Transcription

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