MY E.G. SERVICES BERHAD
Malaysia | 0138.KL | Main
Reference
Report Year: 2023
Source Files: MY_EG_AR23_Part_1.md, MY_EG_AR23_Part_3.md, MY_EG_AR23_Part_4.md, MY_EG_AR23_Part_5.md
Sustainability Committee
Sustainability Working Group (Members Unknown) 🟢
- Multiple meetings annually 🟢
- Materiality assessment 🟢
- KPIs and targets set 🟢
Reporting
TCFD, IFRS S1, IFRS S2, Integrated Report 🟢
GHG Accounting
MYEG demonstrates a commitment to GHG accounting by reporting Scope 1 and Scope 2 emissions, achieving a notable 21.04% reduction in Scope 2 emissions in FY2023 through streamlined operations and electricity monitoring. The initiation of Scope 3 tracking for employee commuting and business travel is a positive step towards comprehensive reporting. However, gaps remain, such as the lack of specific tCO₂e values for Scope 1, absence of third-party verification, and undisclosed base year or GWP basis. Improvements could include quantifying absolute emissions data, establishing a clear baseline, and seeking external verification to enhance credibility and transparency in GHG reporting.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Reported 🟢 | Specific tCO₂e value not provided in the report. |
| Scope2 | 21.04% reduction 🟢 | Attributed to streamlined sites and controlled electricity use. |
| Scope3 | Initial reporting 🟢 | First year of segregated Scope 3 data reporting. |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not specified
- Boundary inventory: Operational control (fuel and electricity consumption)
- Gwp basis: Not specified
- Standard: Not specified
- Data collection approach: Refined methodology in FY2023 for Scope 1 and segregated Scope 3 data
- Third party verification: Not verified
- Carbon intensity: Not reported ⚠️
Efforts
- 21.04% Scope 2 reduction 🟢
- 10.19% waste recycled 🟢
- Energy-efficient blockchain 🌞
- Digital document adoption 🌱
Social Highlights
- 978 employees trained 🟢
- 311 new hires 🟢
- 35 interns hired 🟢
- 52 community beneficiaries 🥗
- Limited data available ⚠️
Governance
- Salary disclosure: Can’t find ⚠️
- Litigation: Can’t find ⚠️
Report Quality
Commendable transparency is evident in MYEG’s FY2023 sustainability report, with quantifiable metrics such as a 21.04% reduction in Scope 2 emissions and 10.19% waste recycling 🟢. The inclusion of Scope 3 emissions tracking and alignment with frameworks like TCFD demonstrates a forward-looking approach. However, the report lacks specific absolute emission values for Scope 1 and third-party verification, which limits credibility ⚠️. While forward-looking commitments like net-zero by 2050 are mentioned, detailed interim targets are pending release. Generic statements about sustainability commitment occasionally lack supporting evidence. To enhance future reports, MYEG could quantify all emission scopes, incorporate external assurance, and provide clearer timelines for targets. Overall, the report provides a solid foundation but could benefit from deeper specificity and validation.
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.