In deriving our Environment Strategy, the areas that have been identified as material to us in terms of managing our impact include climate change and emissions to air, waste management and biodiversity. As there are several core businesses within the Group, some of these areas may be more material than others. In this respect, the approach taken by the Group, is for each entity to be responsible for managing impact from their businesses in line with Group policies as well as with direction and governance from Group level. Environmental performance is captured and reported through various channels including the MISC Group HSE Council and internal HSE review meetings.
In support of the overarching governance approach and framework of environmental management and in compliance with national and international regulations that are mandatory such as the IMO MARPOL we manage the impact of our operations on the environment via a combination of internal and external management frameworks and systems. As part of our approach, our operations are subjected to comprehensive standards such as the PETRONAS MCF and fleet environmental management system. Most of our businesses are also ISO 14001:2004 certified.
The requirement of operating responsibly is also extended to third parties who work with us, as captured in our HSE Requirements for our contractors. Any party that is interested in working with us, is subjected to these conditions which include periodic audits to ensure compliance. We recognise that as a global energy related maritime solutions and services provider, there is potential for significant environmental impact if risks are not adequately managed. Hence, we are constantly taking proactive measures to ensure these impacts are managed adequately and efficiently.