ICON OFFSHORE BERHAD
Malaysia | 5255.KL | Main
Reference
Report Year: 2023
Source Files: Icon_Offshore_Berhad_-_Annual_Report_2023_-_Part_II.pdf
Sustainability Committee
Sustainability Steering Committee (Members Unknown) 🟢
- Oversees strategies & risks 🟢
- Supported by ESG Task Force 🟢
Reporting
GRI, TCFD, Integrated Report 🟢
GHG Accounting
ICON Offshore Berhad demonstrates a commitment to GHG accounting by tracking Scope 1 emissions from marine oil gas combustion in OSV operations and Scope 2 emissions from purchased electricity for shore-based offices. A year-on-year decrease in Scope 1 emissions is noted, alongside the use of Bio-fuel diesel B7, which includes biodiesel, reflecting efforts to address biogenic emissions. However, specific emission values and third-party verification are absent, limiting transparency. Scope 3 emissions are not yet reported but are planned for future disclosure. The company aligns with the Paris Agreement and has set reduction targets (1% in Year 1, 3% in Year 2, 5% in Year 3 for Scope 1 & 2). Improvement is needed in verifying data and reporting detailed metrics for all scopes, including biogenic emissions.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Reported (value unspecified) 🟢 | Marine oil gas combustion (OSV segment) tracked, year-on-year decrease mentioned. |
| Scope2 | Reported (value unspecified) 🟢 | Purchased electricity for shore-based offices tracked. |
| Scope3 | Not reported ⚠️ | Planned for future disclosure (business travel, staff commute). |
| Biogenic emissions | Reported (value unspecified) 🟢 | Tracked from biodiesel (Bio-fuel diesel B7) usage in OSV operations. |
Other Details
- Base year: 2023 (post-divestment of Jack-up Rig)
- Boundary inventory: Operational control (OSV segment, shore-based offices)
- Gwp basis: Not specified
- Standard: Not specified, aligned with Paris Agreement goals
- Third party verification: No
- Carbon intensity: Not specified ⚠️
Efforts
- Scope 1 decrease 🟢
- 1% reduction target 🟢
- Bio-fuel diesel B7 🌞
- Low-impact fuel 🌱
Social Highlights
- Diversity & inclusion initiatives 🥗
- Employee training programs 🥗
- Community engagement 🥗
- Limited data available ⚠️
- Limited data available ⚠️
Governance
- Salary disclosure: Disclosed 🟢
- Litigation: Can’t find ⚠️
Report Quality
Commendable Foundation in ICON Offshore Berhad's 2023 Sustainability Report, with a clear commitment to ESG integration and alignment with frameworks like GRI and TCFD 🟢. The report highlights quantifiable targets, such as a 1-5% reduction in Scope 1 and 2 emissions over three years, and forward-looking commitments via a 3-Year Sustainability Roadmap. However, it falls short on measurable outcomes due to the absence of specific emission values and third-party verification ⚠️. While initiatives like Bio-fuel diesel B7 usage are noted, the lack of detailed metrics and reliance on generic statements (e.g., 'committed to sustainability') dilute credibility. To enhance future reports, ICON should prioritize detailed data disclosure, seek external assurance, and expand Scope 3 reporting. This would strengthen stakeholder trust and demonstrate tangible progress in sustainability efforts.
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