IGB COMMERCIAL REAL ESTATE INVESTMENT TRUST
Malaysia | 5299.KL | Main
Reference
Report Year: 2024
Source Files: IGB_Commercial_Reit_AR24.md
Sustainability Committee
Sustainability Committee (Members Unknown) 🟢
- Strategy Development 🟢
- Risk Evaluation 🟢
- Initiative Coordination 🟢
Reporting
Bursa Malaysia Sustainability Guide, Integrated Report 🟢
GHG Accounting
IGB Commercial REIT demonstrates a structured approach to GHG accounting with data for Scope 1 (1,726 tCO₂e), Scope 2 (27,882 tCO₂e), and Scope 3 (15,086 tCO₂e) emissions reported for 2024, using the GHG Protocol and DEFRA conversion factors. A strength lies in their comprehensive scope coverage, including employee commuting and leased assets in Scope 3. However, the lack of third-party verification raises concerns about data reliability. Additionally, carbon intensity metrics are missing, limiting performance benchmarking. Improvement is needed in securing external assurance and reporting intensity metrics to enhance transparency and credibility. The updated Scope 2 emission factor reflects alignment with recent grid data, which is commendable, but forward-looking net-zero targets require clearer timelines beyond the 2050 national goal.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | 1,726 tCO₂e 🟢 | Data available for 2023, assumed consistent for 2024 |
| Scope2 | 27,882 tCO₂e 🟢 | Updated emission factor to 0.774 for 2024 |
| Scope3 | 15,086 tCO₂e 🟢 | Includes business travel, employee commuting, waste, and leased assets |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: 2019
- Boundary inventory: Operational control consolidation approach
- Gwp basis: DEFRA GHG Conversion Factors 2024
- Standard: GHG Protocol Corporate Accounting and Reporting Standard
- Third party verification: Not verified ⚠️
- Carbon intensity: Not reported ⚠️
Efforts
- 17% EUI reduction 🟢
- 7.9% waste diversion 🟢
- LED lighting upgrade 🌞
- BAS upgrades 🌱
Social Highlights
- 799 beneficiaries impacted 🥗
- 410 blood bags donated 🥗
- 152 children supported 🥗
- 15 beneficiaries from hair donation 🥗
- Limited data available ⚠️
Governance
- Salary disclosure: Can't find ⚠️
- Litigation: Can't find ⚠️
Report Quality
Commendable foundation in sustainability reporting by IGB Commercial REIT for 2024 🟢. The integrated report provides quantifiable metrics such as a 17% reduction in Energy Usage Intensity since 2019 and a 7.9% waste diversion rate, showcasing measurable outcomes. Detailed GHG emissions data across all scopes is a strength, reflecting transparency in environmental impact. However, the report lacks third-party verification for emissions data, which undermines credibility ⚠️. Forward-looking commitments, like the net-zero plan aligned with Malaysia’s 2050 goal, are mentioned but lack specific interim targets or actionable timelines. Additionally, generic statements about 'embedding sustainability' are present without sufficient evidence of unique initiatives. To improve, the company should incorporate external assurance for data reliability, set clearer short-term targets, and provide deeper insights into governance disclosures like executive remuneration.
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.