HIAP TECK VENTURE BERHAD
Malaysia | 5072.KL | Main
Reference
Report Year: 2024
Source Files: HTVB-_Annual_Report_2024.md
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- 2+ meetings 🟢
Reporting
GRI, TCFD, Integrated Report 🟢
GHG Accounting
HIAP TECK VENTURE BERHAD demonstrates a commitment to GHG accounting by reporting Scope 1 (431 tCO₂e) and Scope 2 (10,255 tCO₂e) emissions for FY2024 using the GHG Protocol. The increase in Scope 2 emissions is linked to higher production volumes, while a slight decrease in Scope 1 reflects reduced diesel usage. However, Scope 3 emissions are not reported, limiting the completeness of their carbon footprint. Carbon intensity stands at 6.3 tCO₂e/RM million revenue, but data lacks third-party verification, which could enhance credibility. Improvement areas include expanding reporting to Scope 3, setting a base year for tracking reductions, and engaging external auditors for data assurance. Their ongoing solar PV installation is a positive step toward reducing future emissions.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 431 tCO₂e 🟢 | |
| Scope2 | 10,255 tCO₂e 🟢 | |
| Scope3 | Not reported ⚠️ | Scope 3 emissions data not disclosed in the report. |
Other Details
- Base year: Not specified
- Boundary inventory: Operational control (key subsidiaries in Meru, Malaysia)
- Gwp basis: World Resource Institute (2015) GHG Protocol tool
- Standard: GHG Protocol
- Data collection approach: Fuel consumption (Scope 1) and electricity usage (Scope 2)
- Third party verification: Not verified ⚠️
- Carbon intensity: 6.3 tCO₂e/RM million revenue →
Efforts
- 0.6% diesel reduction 🟢
- Solar PV system (4,681 kWp) 🌞
- LED lighting upgrade 🌞
- 40% renewable energy target 🟢
Social Highlights
- 470 employees trained 🟢
- 4,775 training hours 🟢
- Zero fatalities 🟢
- LTIR 1.6 →
- Limited data available ⚠️
Governance
- Salary disclosure: Can't find ⚠️
- Litigation: Can't find ⚠️
Report Quality
Commendable foundation in sustainability reporting by HIAP TECK VENTURE BERHAD for FY2024 🟢. The integrated report provides quantifiable data on GHG emissions (Scope 1 and 2), energy consumption, and social metrics like training hours (4,775 total) and safety performance (LTIR 1.6). Forward-looking commitments, such as sourcing 40% electricity from renewables by 2030, demonstrate strategic intent. However, gaps remain with Scope 3 emissions unreported and a lack of third-party verification for GHG data ⚠️. Some sections rely on generic statements (e.g., 'committed to sustainability') without deeper evidence of impact or outcomes. To strengthen future reports, the company could incorporate external assurance, expand Scope 3 disclosures, and provide more measurable outcomes for social initiatives. Overall, a solid effort with room for enhanced transparency and depth.
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