FGV HOLDINGS BERHAD
Malaysia | 5222.KL | Main
Reference
Report Year: 2023
Source Files:
Sustainability Committee
Sustainability Committee (3 pax) 🟢
- 2 meetings 🟢
- Strategy oversight 🟢
Reporting
GRI, TCFD, Integrated Report 🟢
GHG Accounting
FGV Holdings Berhad has made commendable progress in establishing a GHG emissions baseline for Scope 1 and Scope 2 using 2019 data across 20 subsidiaries, demonstrating a commitment to carbon accounting. The company is working on the more complex Scope 3 emissions with the assistance of an independent consultant to ensure accuracy, reflecting a proactive approach. However, key details such as the GWP basis, specific standards (e.g., GHG Protocol), and third-party verification status are missing, limiting transparency. The absence of carbon intensity metrics is a gap that needs addressing. To strengthen reporting, FGV should prioritize third-party verification, clarify methodologies, and expedite Scope 3 completion to align with global standards and enhance stakeholder trust.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Baseline established 🟢 | |
| Scope2 | Baseline established 🟢 | |
| Scope3 | In progress ⚠️ | Complex supply chain, consultant appointed for accuracy |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported for energy production. |
Other Details
- Base year: 2019
- Boundary inventory: Group-wide for 20 subsidiaries (Scope 1 & 2)
- Gwp basis: Not specified
- Standard: Not specified
- Data collection approach: Internal data with consultant support for Scope 3
- Third party verification: Not verified ⚠️
- Carbon intensity: Not reported ⚠️
Efforts
- Scope 1 & 2 inventory 🟢
- Net zero target 2050 🟢
- 309,201 MT waste managed 🟢
- Solar PV systems 🌞
- Biogas from effluent 🌱
Social Highlights
- RM72.2M to 20,153 workers 🟢
- RM392.6M for housing 🟢
- 2,182 trained on labor rights 🟢
- 9 smallholder programs 🟢
- 42,309 trained on safety 🟢
Governance
- Salary disclosure: Disclosed 🟢
Report Quality
Commendable foundation in FGV Holdings Berhad’s 2023 sustainability report with strong emphasis on quantifiable actions 🟢, such as completing Scope 1 and 2 GHG inventories, reimbursing RM72.2 million to migrant workers, and investing RM392.6 million in housing. The integrated report aligns with GRI and TCFD frameworks, enhancing credibility. Measurable outcomes, like training 42,309 employees on safety, reflect impactful social efforts. Forward-looking commitments, such as achieving net zero by 2050, are promising 🟢. However, the report contains gaps ⚠️, including a lack of third-party verification for GHG data and incomplete Scope 3 reporting. Some statements, like 'committed to sustainability,' feel generic without deeper evidence. To improve, FGV should prioritize third-party verification, expedite Scope 3 accounting, and provide more specific metrics for environmental targets. Overall, the report offers a solid base but could benefit from enhanced transparency and depth.
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