MISC BERHAD
Malaysia | 3816.KL | Main
Reference
Report Year: 2023
Source Files: MISC_-_Integrated_Annual_Report_2023_-_Part_1.md, MISC_-_Integrated_Annual_Report_2023_-_Part_2.md, MISC_-_Sustainability_Report_2023.md
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- Quarterly meetings 🟢
- Monthly HSSES Council meetings 🟢
Reporting
GRI, TCFD, SASB, Separate Report 🟢
GHG Accounting
MISC Berhad demonstrates a strong commitment to GHG accounting with detailed Scope 1 and Scope 2 emissions reporting for 2023, achieving a 24% reduction in fleet GHG intensity since 2008. Their data is third-party verified by ABS, ensuring credibility. The company aligns with IMO targets, aiming for a 50% reduction by 2030 and net-zero by 2050. However, Scope 3 emissions are not reported, limiting a full view of their carbon footprint. Improvements could include expanding disclosure to cover Scope 3 emissions and specifying the GWP basis for calculations. Overall, MISC's efforts reflect a proactive approach in a challenging sector, with clear milestones and innovative technologies driving decarbonization.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 4.11M tCO₂e 🟢 | |
| Scope2 | 39.85k tCO₂e 🟢 | |
| Scope3 | Not reported ⚠️ | Scope 3 emissions not disclosed in the report ⚠️ |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: 2008
- Boundary inventory: Covers MISC Group operations including Gas Assets & Solutions, Petroleum & Product Shipping, Offshore Business, Marine & Heavy Engineering, Marine Services, and Maritime Education & Training
- Gwp basis: Not specified
- Standard: GHG Protocol (implied through alignment with international standards like IMO and TCFD)
- Data collection approach: Verified by American Bureau of Shipping (ABS) per Ship Energy Efficiency Management Plan (SEEMP) under MARPOL Annex VI
- Third party verification: Verified by ABS 🟢
- Carbon intensity: 24% reduction since 2008, verified 🟢
Efforts
- 24% GHG intensity reduction 🟢
- ShaPoLi on 55 vessels 🟢
- 100% hazardous waste recycled 🟢
- Dual-fuel LNG vessels 🌞
- Internal Carbon Pricing 🌱
Social Highlights
- 829 cadets sponsored 🟢
- RM33.1M in training 🟢
- 28M man-hours LTI-free 🟢
- 9 scholarships awarded 🟢
- 1,916 turtle nests conserved 🥗
Governance
- Salary disclosure: Disclosed 🟢
- Litigation: Can’t find ⚠️
Report Quality
Commendable depth in MISC Berhad’s 2023 Sustainability Report, with quantifiable metrics like a 24% reduction in GHG intensity since 2008 and specific social investments (e.g., RM29.6 million for cadet sponsorships) 🟢. The report excels in detailing decarbonization efforts and third-party verification by ABS, enhancing credibility. Forward-looking commitments are strong, with targets for 50% GHG reduction by 2030 and net-zero by 2050. However, gaps exist, such as the absence of Scope 3 emissions data and limited specificity on GWP basis ⚠️. Some statements, like general commitments to sustainability, lack measurable outcomes. To improve, MISC could incorporate Scope 3 reporting, provide clearer methodologies for GHG calculations, and focus on actionable outcomes over generic narratives. Overall, the report offers a solid foundation but would benefit from addressing these critical gaps.
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