PARAMOUNT CORPORATION BERHAD
Malaysia | 1724.KL | Main
Reference
Report Year: 2023
Source Files:
Sustainability Committee
Sustainability Team Formed 🟢
- Dedicated ESG team 🟢
Reporting
UN SDGs, Integrated Report 🟢
GHG Accounting
Paramount Corporation Berhad has taken initial steps in GHG accounting by commencing emissions measurement for Scope 1, Scope 2, and selected Scope 3 categories in 2023. The company has defined its operational boundary, covering offices, sales galleries, construction sites, and malls, which is a positive start. However, critical details such as base year, GWP basis, and accounting standards are missing, limiting the depth of analysis. Third-party verification is absent, which could enhance credibility. The report also lacks carbon intensity metrics and specific emissions data. Moving forward, Paramount should prioritize detailed reporting, establish a base year, adopt recognized standards like GHG Protocol, and seek external assurance to strengthen its decarbonization efforts aligned with its net-zero by 2050 goal.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Initiated in 2023 🟢 | Measurement commenced, no specific data reported yet. |
| Scope2 | Initiated in 2023 🟢 | Measurement commenced, no specific data reported yet. |
| Scope3 | Selected categories initiated 🟢 | Partial Scope 3 data planned for future inclusion. |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not specified ⚠️
- Boundary inventory: Operational control defined 🟢
- Gwp basis: Not specified ⚠️
- Standard: Not specified ⚠️
- Data collection approach: Not specified ⚠️
- Third party verification: Not verified ⚠️
- Carbon intensity: Not reported ⚠️
Efforts
- Net zero target by 2050 🟢
- Green certified buildings expansion 🌞
- Construction waste controls 🟢
Social Highlights
- RM626,000 community investment 🥗
- 1,656 employees trained on safety 🟢
- 3 sites with 5-star safety ratings 🟢
- 17,670 training hours 🟢
- 45 organizations benefited 🥗
Governance
- Salary disclosure: Can’t find ⚠️
- Litigation: Can’t find ⚠️
Report Quality
Commendable initiative by Paramount Corporation Berhad in integrating sustainability into its corporate strategy 🟢. The 2023 report highlights a structured approach with the establishment of a dedicated sustainability team and a focus on material matters like climate change. Quantifiable actions, such as RM626,000 in community investment and training 1,656 employees on safety, reflect measurable outcomes 🟢. However, the report falls short in providing detailed GHG emissions data and lacks third-party verification, which could enhance credibility ⚠️. Forward-looking commitments, like net zero by 2050, are promising but need specific interim targets to demonstrate progress. Generic statements, such as 'committed to sustainability,' require more evidence through metrics. Paramount could improve by incorporating external assurance, detailed emissions reporting, and clearer timelines for goals to build a more robust sustainability narrative.
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