TEX CYCLE TECHNOLOGY (M) BERHAD
Malaysia | 0089.KL | ACE
Reference
Report Year: 2023
Source Files:
Sustainability Committee
Corporate Sustainability Committee (Members Unknown) 🟢
- Oversees strategy 🟢
- Evaluates risks 🟢
- Reviews materiality 🟢
Reporting
GRI, TCFD, SASB, Integrated Report 🟢
GHG Accounting
Tex Cycle's GHG accounting shows initial efforts in tracking Scope 2 emissions with electricity consumption data reported at 160.8k kWh for 2023, covering head office and worker hostel operations. However, Scope 1 data is missing, and Scope 3 emissions are still under tracking with no set targets. The absence of a base year, GWP basis, and third-party verification limits the robustness of their reporting. Strengths include a clear commitment to carbon neutrality by 2030 and net zero by 2050. Improvements are needed in comprehensive Scope 1 and 3 reporting, establishing a base year, and securing third-party verification to enhance credibility and transparency.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Not reported ⚠️ | Scope 1 data not disclosed in the report ⚠️ |
| Scope2 | 160.8k kWh (2023) 🟢 | Electricity consumption reported for head office and worker hostel |
| Scope3 | Tracking in progress → | Scope 3 emissions tracking initiated, target to be set soon ⚠️ |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not specified
- Boundary inventory: Head office and worker hostel
- Gwp basis: Not specified
- Standard: Not specified
- Third party verification: Not verified
- Carbon intensity: Not reported ⚠️
Efforts
- Reduced Scope 2 usage 🟢
- 97% waste recycled 🟢
- Solar panels (418.5kWp) 🌞
- Waste-to-energy adoption 🌱
Social Highlights
- RM80,627 on training 🟢
- 0 fatalities in 2023 🟢
- 16 employees trained 🟢
- Education support 🥗
- Limited data available ⚠️
Governance
- Salary disclosure: Can’t find ⚠️
- Litigation: Can’t find ⚠️
Report Quality
Commendable foundation in Tex Cycle's 2023 Sustainability Report with a strong focus on environmental initiatives 🟢. The report showcases quantifiable actions like 97% waste recycling and a reduction in electricity consumption to 160.8k kWh, alongside clear commitments to carbon neutrality by 2030. However, the lack of Scope 1 and 3 GHG data and third-party verification limits transparency ⚠️. Measurable outcomes are present in social efforts, such as RM80,627 invested in training, but governance disclosures are sparse with no information on salary transparency or litigation. Forward-looking commitments are promising, yet generic statements like 'committed to sustainability' need more evidence of impact. Tex Cycle could improve by incorporating comprehensive GHG reporting, securing external verification, and enhancing governance transparency to build a more robust sustainability narrative.
Tags:
Looking for ESG Strategy & Improvement?
Disclaimer:
This is AI model generated summary based on certain rules set by Sustify.world perspective. If the reader finds the information is incorrect, they can always approach us by sending email admin@sustify.world.
Need Expert help?
Contact us TODAY for sustainability strategy, reporting, and outsourcing services.