HAP SENG CONSOLIDATED BERHAD
Malaysia | 3034.KL | Main
Reference
Report Year: 2023
Source Files:
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- 1 meeting 🟢
Reporting
IFRS S1, IFRS S2, Integrated Report 🟢
GHG Accounting
Hap Seng Consolidated Berhad demonstrates a structured approach to GHG accounting, adhering to the GHG Protocol with detailed reporting across Scope 1 (135k tCO₂e), Scope 2 (19k tCO₂e), and partial Scope 3 (26k tCO₂e) emissions for 2023. Strengths include comprehensive coverage of operations and inclusion of biogenic emissions (210k tCO₂e) from biomass usage. However, Scope 3 data remains incomplete, with only selected categories like business travel quantified. The absence of third-party verification limits credibility. Improvements are needed in full Scope 3 disclosure and verification to enhance reliability. Efforts to reduce emissions through biogas plants and solar energy adoption are commendable but require measurable outcomes to assess impact.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 135k tCO₂e 🟢 | |
| Scope2 | 19k tCO₂e 🟢 | |
| Scope3 | 26k tCO₂e 🟢 | |
| Biogenic emissions | 210k tCO₂e 🟢 | Reported separately as per GHG Protocol due to biomass usage. |
Other Details
- Base year: 2022
- Boundary inventory: Control approach covering Peninsular Malaysia, Sabah, and Sarawak operations (mills, plantations, Autohaus, service centres, warehouses, quarries, brick and asphalt plants, offices).
- Gwp basis: IPCC Sixth Assessment Report (AR6)
- Standard: GHG Protocol Corporate Accounting and Reporting Standard
- Data collection approach: Internationally recognized tools (IPCC Guidelines, local emission factors, Grid Emission Factor by Energy Commission of Malaysia).
- Third party verification: Not verified ⚠️
- Carbon intensity: 32.26 tCO₂e/RM million revenue, not verified ⚠️
Efforts
- Biogas plant initiative 🟢
- Recycled 334k tonnes waste 🟢
- 26 EV chargers installed 🌞
- Palm fibre mat tech 🌱
Social Highlights
- RM2.145M for education & community 🥗
- 2,510 new hires 🟢
- Supported 11 smallholders 🥗
- 34 interns trained 🟢
- 10 apprentices sponsored 🟢
Governance
- Salary disclosure: Can't find ⚠️
Report Quality
Commendable Foundation in Sustainability Reporting 🟢. Hap Seng Consolidated Berhad's 2023 integrated report provides a solid base with detailed GHG accounting across Scope 1, 2, and partial Scope 3 emissions, supported by quantifiable actions like recycling 334k tonnes of waste and installing 26 EV chargers. The inclusion of ESG KPIs linked to senior management remuneration is a positive step. However, measurable outcomes are limited ⚠️, especially for emission reduction targets, as data shows an increase in intensity (+64.4%) due to methodological changes and lower revenue. Generic commitments like 'continuous reduction' lack specificity. Forward-looking commitments (e.g., full Scope 3 disclosure by 2025) are noted but need clearer timelines. The report could benefit from third-party verification to enhance credibility and more granular targets for renewable energy adoption. Overall, a promising effort with room for deeper impact measurement.
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