Established in 1998, EuroSports Global specialises in distributing ultra-luxury and luxury automobiles and providing after-sales services. EuroSports Global is the sole authorised dealer for Lamborghini in Singapore and Indonesia, the exclusive distributor for Touring Superleggera in Singapore, Malaysia, Brunei and Indonesia, and a non-exclusive distributor in China. Its subsidiary, Scorpio Electric, is in the process of developing an all-electric next-generation motorcycle.
1. Can you share about EuroSports Global’s sustainability approach and how it has integrated it into business operations?
EuroSports Global has a comprehensive sustainability approach encompassing various policies and commitments surrounding different aspects of environmental, social, and governance (ESG) responsibility. This involves reducing carbon emissions, improving energy efficiency, and adopting electric vehicle technologies via our subsidiary, Scorpio Electric, which focuses on smart electric motorcycles.
EuroSports Global has also prioritised social elements such as workplace safety, employee development, and open communication to create a positive and inclusive work environment. Furthermore, the group engages in various social causes and collaborates with its brand partner, Lamborghini, to create community involvement and philanthropy opportunities. By weaving sustainability into its core operations, EuroSports Global aims to drive positive environmental and social impact while maintaining a competitive edge in its industry.
2. The group recently announced plans to raise more capital for its electric motorcycle maker, Scorpio Electric. Tell us more about the group’s initiative to lead in new forms of environmentally sustainable transportation.
Our commitment to environmentally sustainable transportation, exemplified through Scorpio Electric, is driven by a deep passion for a greener future. We are inspired by the potential for our innovations to make a lasting positive impact on our planet. We focus on creating electric vehicles embodying cutting-edge technologies while minimising our carbon footprint. The X1, our first electric motorcycle, reshapes urban mobility by combining high performance with zero tailpipe emissions.
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We believe the X1 presents great potential in rapidly growing electric vehicle markets such as Europe and Asia. These regions are embracing sustainability, well aligned with our vision. Our primary goal is to accelerate the production of the X1 and expand our market presence. We are excited about the opportunities presented by the global shift to sustainable transportation, and Scorpio Electric aims to be a driving force in this evolution.
The upcoming global launch of the X1 in November at the Esposizione Internazionale Ciclo Motociclo e Accessori (EICMA) exhibition in Milan, Italy, will mark a significant milestone in transforming the global electric vehicle landscape, reflecting our commitment to advancing sustainable urban mobility.
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3. What has been done to retain employees and attract new talent?
EuroSports Global focuses on three main pillars for employee retention and attraction:
• Well-being, health and safety: EuroSports Global has implemented a robust health and safety management system based on the nationally recognised BizSafe framework. This comprehensive programme follows a five-step process, covering
(i) legal obligations awareness, (ii) risk assessment and management, (iii) risk management audits, (iv) workplace safety and health (WSH) management training, and (iv) management system audits. First-aid training is also provided with the cooperation of organisations like the Singapore Red Cross, ensuring that employees are well-prepared to respond to accidents or emergencies.
• Professional development: The group invests in its employees by providing comprehensive product and job training for their skills and knowledge. Furthermore, collaboration with our brand partner, Lamborghini, has resulted in 22 training sessions in FY2023, covering various technical and non-technical topics.
• Open communication: EuroSports Global utilises an open-door policy that allows employees to approach senior management directly with concerns or suggestions, fostering transparent communication channels where every employee’s voice is heard. To build positive working relationships and camaraderie, the group actively promotes teamwork principles and organises social events throughout the year.
4. How have your ESG data and disclosure practices translated to improved outcomes for your organisation and its stakeholders?
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EuroSports Global’s ESG data and disclosure practices, underpinned by active stakeholder engagement, have yielded positive outcomes. These include enhanced customer satisfaction, strengthened business partnerships, regulatory compliance, employee engagement, and, most importantly, aligned business decisions with the interests of stakeholders and shareholders.
This serves as a testament to the company’s commitment to responsible business practices and the well-being of all its stakeholders. On the social front, EuroSports Global’s engagement with stakeholders, particularly employees, has resulted in a more inclusive and supportive work environment. The commitment to competitive wages, learning and development opportunities, and workplace safety has enhanced employee satisfaction and retention.
Active engagement with staff has also facilitated prompt responses to employee concerns and needs, ensuring a motivated and engaged workforce. For investors and shareholders, EuroSports Global’s dedication to ESG data and disclosure practices is reflected in its commitment to transparency, disclosure, and consistent dividends. These practices provide investors with the necessary information to make informed decisions and foster trust.
5. How does EuroSports Global ensure it meets the regulatory requirements for ESG reporting?
EuroSports Global ensures compliance with regulatory requirements for ESG reporting through a well-structured governance framework. The board of directors oversees, while the Deputy CEO implements the sustainability strategy. A dedicated sustainability management committee, chaired by the deputy CEO, oversees policies, programmes, targets, and performance monitoring.
A specialised sustainability reporting team also monitors, collects, and verifies sustainability data to ensure accuracy and regulatory compliance. This governance structure underscores the company’s commitment to transparent and accountable ESG reporting while aligning with regulatory obligations. E Jihye Lee is an associated director, research at the Singapore Exchange S68 Group.
Candace Li is associate director of research at the Singapore Exchange Group
