MALAYSIA STEEL WORKS (KL) BHD
Malaysia | 5098.KL | Main
Reference
Report Year: 2023
Source Files: Masteel_-_Annual_Report_2023.pdf, Masteel_-_Sustainability_Report_2023.pdf
Sustainability Committee
Sustainability Committee (Members Unknown) 🟢
- Led by Chief Sustainability Officer 🟢
Reporting
TCFD, ISSB, Separate Report 🟢
GHG Accounting
Malaysia Steel Works (KL) Bhd demonstrates a commitment to GHG accounting by reporting on Scope 1, 2, and 3 emissions for FY2023, aligning with TCFD and ISSB frameworks. A notable strength is their progression toward ISO 14064 compliance, reflecting a structured approach to emissions reporting. However, the report lacks specific quantitative data for the year, base year details, boundary definitions, and third-party verification status, limiting transparency. The absence of carbon intensity metrics also hinders a full assessment of performance. To improve, the company should provide detailed emissions figures, clarify methodologies, and pursue third-party verification to enhance credibility. These steps would strengthen stakeholder trust and support their ambitious targets of a 10% GHG reduction by 2026 and an additional 15% by 2031.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Reported 🟢 | Specific data for 2023 not detailed in report ⚠️ |
| Scope2 | Reported 🟢 | Specific data for 2023 not detailed in report ⚠️ |
| Scope3 | Reported 🟢 | Specific data for 2023 not detailed in report ⚠️ |
| 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: Progressing to ISO 14064 🟢
- Data collection approach: Not specified ⚠️
- Third party verification: Not mentioned ⚠️
- Carbon intensity: Not reported ⚠️
Efforts
- Target 10% reduction by 2026 🟢
- Target 15% reduction by 2031 🟢
- Zero wastewater discharge 🟢
- Solar energy study 🌞
- Induction Furnace adoption 🌱
Social Highlights
- RM100,000 donation 🥗
- University partnerships 🥗
- Incident rate reduced 🟢
- Sustainability training 🟢
- Limited data available ⚠️
Governance
- Salary disclosure: Can’t find ⚠️
Report Quality
Commendable initiative by Malaysia Steel Works (KL) Bhd in producing a detailed FY2023 Sustainability Report 🟢. The report showcases strengths such as alignment with TCFD and ISSB frameworks and clear forward-looking commitments like a 10% GHG reduction by 2026 and 15% by 2031. The inclusion of Scope 1, 2, and 3 emissions reporting is a positive step. However, the lack of quantifiable data for emissions and carbon intensity, coupled with missing details on verification and methodologies, limits the report’s depth ⚠️. Generic statements like 'committed to sustainability' are present but lack measurable outcomes to substantiate claims. To enhance credibility, the company should incorporate third-party verification, provide specific metrics, and elaborate on data collection approaches. Overall, the report provides a solid foundation but could benefit from greater transparency and evidence-based reporting.
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.