LION INDUSTRIES CORPORATION BERHAD
Malaysia | 4235.KL | Main
Reference
Report Year: 2023
Source Files: LICB_-_Annual_Report_2023.md
Sustainability Committee
Sustainability Committee (Members Unknown) 🟢
- Board Oversight 🟢
- MSC Support 🟢
- SWC Implementation 🟢
Reporting
GRI, Integrated Report 🟢
GHG Accounting
Lion Industries Corporation Berhad's GHG accounting efforts in 2023 are limited, with no specific data reported for Scope 1, 2, or 3 emissions. The report lacks critical details such as base year, boundary, GWP basis, and third-party verification status, which are essential for transparency. While the company emphasizes energy efficiency and plans to install induction furnaces to reduce carbon monoxide emissions, quantifiable GHG metrics are absent. A key strength is their focus on steel recycling, which supports carbon neutrality. However, significant improvements are needed, including detailed GHG inventory reporting, adoption of recognized standards like GHG Protocol, and third-party verification to enhance credibility. Addressing these gaps will align their reporting with best practices and provide stakeholders with a clearer view of their environmental impact.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Not reported ⚠️ | No specific data on Scope 1 emissions provided. |
| Scope2 | Not reported ⚠️ | No specific data on Scope 2 emissions provided. |
| Scope3 | Not reported ⚠️ | No specific data on Scope 3 emissions provided. |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not specified ⚠️
- Boundary inventory: Not specified ⚠️
- Gwp basis: Not specified ⚠️
- Standard: Not specified ⚠️
- Data collection approach: Not specified ⚠️
- Third party verification: Not mentioned ⚠️
- Carbon intensity: Not reported ⚠️
Efforts
- Induction Furnaces for CO Reduction 🟢
- Steel Scrap Recycling 🟢
- ISO14001 Certified 🌱
- 3R Practices 🌱
Social Highlights
- 644 Employees Trained on Safety 🟢
- RM350k Scholarships for 36 Students 🥗
- RM270k Medical Aid for 31 People 🥗
- RM662k Community Investment 🥗
- Zero Human Rights Complaints 🟢
Governance
- Salary disclosure: Disclosed 🟢
- Litigation: Can’t find ⚠️
Report Quality
Commendable efforts are evident in Lion Industries Corporation Berhad's 2023 sustainability report, particularly in social initiatives with quantifiable metrics like RM662,030 invested in community programs benefiting 158 individuals 🟢. The integrated report aligns with GRI standards and includes internal review by auditors, adding credibility. However, the report falls short on environmental data, with no specific GHG emissions figures or third-party verification, relying on generic commitments like 'reducing carbon footprint' without measurable outcomes ⚠️. Forward-looking statements, such as adopting TCFD by 2025, are positive but lack detailed timelines or targets. To improve, the company should incorporate absolute GHG data, seek external verification, and provide clearer forecasting for sustainability goals. Overall, the report offers a solid foundation but needs deeper substance in environmental reporting to match its social impact disclosures.
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