SOLARVEST HOLDINGS BERHAD
Malaysia | 0215.KL | Main
Reference
Report Year: 2024
Source Files: Solarvest_AR2024_Part_2.md, Solarvest_AR2024_Part_3.md
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- SRMC oversight 🟢
- SWG execution 🟢
- Board training 🟢
Reporting
GRI, SASB, TCFD (planned), Integrated Report 🟢
GHG Accounting
Solarvest has made significant strides in GHG accounting by reporting Scope 1, 2, and 3 emissions for FYE 2024, totaling 1,256.88 tCO₂e, with a detailed breakdown across subsidiaries using the financial control approach. The adoption of IPCC Guidelines and updated emission factors ensures accuracy, though a 165% increase in total emissions is largely due to Scope 3 inclusion. Strengths include reduced Scope 2 emission intensity by 33.8% and comprehensive reporting. However, the lack of third-party verification and an unspecified base year limits credibility. Improvements could involve external assurance and clearer target-setting for emission reductions to align with Malaysia's net-zero goals by 2050.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 296.81 tCO₂e 🟢 | |
| Scope2 | 213.00 tCO₂e 🟢 | |
| Scope3 | 747.07 tCO₂e 🟢 | |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not specified
- Boundary inventory: Financial control approach across 12 major subsidiaries in Malaysia
- Gwp basis: IPCC 6th Assessment Report (100-year timeframe)
- Standard: 2006 IPCC Guidelines for National GHG Inventories
- Data collection approach: Financial control approach for major subsidiaries
- Third party verification: Not verified ⚠️
Efforts
- Reduced Scope 2 by 11.5% 🟢
- Displaced 36,703 tCO₂e 🟢
- Recycled 6.29 tonnes waste 🟢
- 850 MWp solar capacity 🌞
- Containerized designs 🌱
Social Highlights
- 93.35 kg litter cleaned 🥗
- Earth Hour participation 🥗
- EV charging for staff 🥗
- Limited data available ⚠️
- Limited data available ⚠️
Governance
- Salary disclosure: Can't find ⚠️
- Litigation: Can't find ⚠️
Report Quality
Commendable Effort by Solarvest in delivering a detailed sustainability report for FYE 2024 🟢. The report excels in providing quantifiable actions such as a 11.5% reduction in Scope 2 emissions and 850 MWp of installed solar capacity, showcasing measurable outcomes. The inclusion of Scope 3 emissions and alignment with frameworks like GRI and SASB reflects a strong foundation. However, the absence of third-party verification and limited forward-looking commitments beyond a planned TCFD adoption by 2025 are notable gaps ⚠️. While the report outlines ambitious visions, specific targets for net-zero or emission reductions are vague. Solarvest could enhance credibility by incorporating external assurance and setting clearer, time-bound goals. Overall, the report provides a solid base but would benefit from more concrete commitments and measurable future-focused strategies.
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