IOI CORPORATION BERHAD
Malaysia | 1961.KL | Main
Reference
Report Year: 2024
Source Files:
Sustainability Committee
Sustainability Committee (3 pax) 🟢
- Regular meetings 🟢
Reporting
GRI, TCFD, IFRS S1, IFRS S2, Separate Report 🟢
GHG Accounting
IOI Corporation Berhad demonstrates a robust approach to GHG accounting with comprehensive Scope 1, 2, and 3 reporting and a clear decarbonization pathway targeting net zero by 2040. Their third-party verification under ISO 14064-1:2018 enhances credibility, while the IOI ESG digital platform ensures accurate data collection. Strengths include a 42% emission reduction achieved ahead of the 2025 target and significant investments in methane capture and renewable energy. However, Scope 3 emissions remain the largest contributor, indicating a need for deeper supplier engagement. Improvement could focus on reporting carbon intensity metrics and expanding verification across all operations.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 745k tCO₂e 🟢 | |
| Scope2 | 32k tCO₂e 🟢 | |
| Scope3 | 4.39M tCO₂e 🟢 | |
| Biogenic emissions | Reported 🟢 | Biomass usage reported and included in GHG inventory. |
Other Details
Efforts
- 42% reduction 🟢
- 991k tonnes diverted 🟢
- Solar panels 🌞
- Biomass to palm wood 🌱
Social Highlights
- 348 scholarships 🟢
- 1,570 students adopted 🟢
- 25,449 employees trained 🟢
- RM2.7M community investment 🟢
- Retraining for green economy 🟢
Governance
- Salary disclosure: Disclosed 🟢
- Litigation: IOI Pelita land dispute resolution 🔴
Report Quality
Strong Commitment to Sustainability 🟢. IOI Corporation Berhad's 2024 Sustainability Report offers a detailed and commendable overview of their environmental and social initiatives. The report excels with quantifiable metrics such as a 42% GHG emission reduction ahead of target and specific community investments like RM2.7M benefiting 141 recipients. Third-party verification of GHG data under ISO 14064-1:2018 adds credibility. Forward-looking commitments, such as net zero by 2040 and SBTi validation, demonstrate ambition. However, generic statements on inclusivity lack deeper measurable outcomes ⚠️, and carbon intensity data is missing. The report could benefit from broader verification across all operations and more detailed Scope 3 supplier engagement metrics. Overall, it provides a solid foundation but could enhance impact with greater specificity in social outcomes and governance disclosures.
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