MIECO CHIPBOARD BERHAD
Malaysia | 5001.KL | Main
Reference
Report Year: 2023
Source Files: MIECO_AR2023.md
Sustainability Committee
Sustainability Committee (Members: Unknown) 🟢
- Strategy oversight 🟢
- ESG monitoring 🟢
Reporting
GRI, TCFD, SASB - Integrated Report 🟢
GHG Accounting
MIECO Chipboard Berhad demonstrates a commitment to GHG accounting by reporting Scope 1 and Scope 2 emissions for FY2023, with data verified by NBS Smart Focus Group, ensuring credibility. However, emissions are reported in non-standard units (litres for fuel, MW for electricity) rather than tCO₂e, limiting comparability. Scope 3 emissions are not disclosed, which is a significant gap given supply chain impacts in industrial operations. The absence of a base year, GWP basis, and specific GHG standard further weakens the reporting framework. MIECO should adopt tCO₂e metrics, establish a base year, disclose Scope 3 data, and align with recognized standards like GHG Protocol to enhance transparency and accountability in their climate strategy.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 2,835,984 litres fuel (Scope 1) 🟢 | Reported as fuel consumption, not tCO₂e ⚠️ |
| Scope2 | 76,996.64 MW (Scope 2) 🟢 | Reported as electricity consumption, not tCO₂e ⚠️ |
| Scope3 | Not reported ⚠️ | Scope 3 emissions not disclosed ⚠️ |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not specified
- Boundary inventory: Company-owned vehicles and plant operations (Scope 1); Electricity usage (Scope 2)
- Gwp basis: Not specified
- Standard: Not specified
- Third party verification: Yes (NBS Smart Focus Group)
- Carbon intensity: Not reported
Efforts
- Reduced Scope 2 by 5% 🟢
- Waste recycling with 5S 🟢
- Energy audit grant application 🌞
- Green Label certification 🌱
Social Highlights
- 61 employees trained on safety 🟢
- RM5,500 for 7 community beneficiaries 🥗
- 1,753 training hours 🟢
- 332 CSR man-hours 🥗
- Zero human rights complaints 🟢
Governance
- Salary disclosure: Can’t find ⚠️
- Litigation: Can’t find ⚠️
Report Quality
Commendable foundation in MIECO’s FY2023 sustainability report with an integrated approach and alignment to frameworks like GRI, TCFD, and SASB 🟢. The report provides quantifiable data on Scope 1 and 2 emissions, water consumption, and training hours, supported by third-party verification from NBS Smart Focus Group, enhancing credibility. Social initiatives, such as community investments (RM5,500) and employee training (1,753 hours), reflect measurable outcomes 🟢. However, gaps exist with non-standard GHG metrics (litres/MW instead of tCO₂e) and the absence of Scope 3 data, limiting climate impact assessment ⚠️. Forward-looking commitments, like reducing GHG by 2030, lack detailed plans or interim targets. Generic statements on sustainability commitment often lack evidence of execution ⚠️. MIECO could improve by adopting standardized GHG reporting, disclosing Scope 3 emissions, and providing specific timelines for targets. Overall, the report offers a solid base but needs deeper granularity and accountability to strengthen its impact.
Tags:
Looking for ESG Strategy & Improvement?
Disclaimer:
This is AI model generated summary based on certain rules set by Sustify.world perspective. If the reader finds the information is incorrect, they can always approach us by sending email admin@sustify.world.
Need Expert help?
Contact us TODAY for sustainability strategy, reporting, and outsourcing services.