MNRB HOLDINGS BERHAD
Malaysia | 6459.KL | Main
Reference
Report Year: 2024
Source Files: MNRB_Holdings_Berhad_Annual_Report_2024_(Part_1_of_2).pdf, MNRB_Holdings_Berhad_Annual_Report_2024_(Part_2_of_2).pdf
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- GSMD Established 🟢
- Quarterly SWG Meetings 🟢
Reporting
GRI, TCFD, Integrated Report 🟢
GHG Accounting
MNRB Holdings Berhad shows initial commitment to GHG accounting with plans to establish baselines for Scope 1, 2, and 3 emissions in the next reporting period. A positive step is the measurement of investment portfolio emissions at 133,493 tCO₂e (FY2022) with a target of 40% reduction by 2025. However, current reporting lacks specificity on operational emissions data, GWP basis, and third-party verification. The absence of detailed Scope 3 data limits comprehensive value chain analysis. Improvement is needed in defining boundaries, adopting a recognized standard like GHG Protocol, and accelerating verification processes to enhance credibility and align with their Net Zero 2050 goal.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Not reported ⚠️ | Scope 1 data not disclosed in FY2024 report. |
| Scope2 | Not reported ⚠️ | Scope 2 data not disclosed; electricity usage reported as 4,318,037 kWh. |
| Scope3 | Not reported ⚠️ | Scope 3 data not disclosed in FY2024 report. |
| Biogenic emissions | Not applicable → | No biomass or biofuel usage reported. |
Other Details
- Base year: Not established
- Boundary inventory: Not defined; in process of finalizing GHG methodology
- Gwp basis: Not specified
- Standard: Not specified; aligning with PCAF and TCFD for investments
- Third party verification: Not verified
- Carbon intensity: Not reported ⚠️
Efforts
- 100% motor takaful e-certs 🟢
- Paper waste down 36% 🟢
- 14M sheets saved 🟢
- 60 trees planted 🌞
- 67% online training 🌱
Social Highlights
- 5,520 agents trained 🟢
- RM2.1M for 1,123 staff training 🟢
- Rural school support 🥗
- RM675.3M claims to 109,999 🥗
- 98.5% local spending 🟢
Governance
- Salary disclosure: Can’t find ⚠️
- Litigation: Can’t find ⚠️
Report Quality
Commendable initiative by MNRB Holdings Berhad in integrating sustainability into their operations, as seen in their FY2024 integrated report 🟢. The report highlights quantifiable actions such as a 36% reduction in paper waste and 100% electronic motor takaful certificates, alongside a strong social focus with RM675.3M in claims paid. Forward-looking commitments like achieving Net Zero by 2050 and a 40% reduction in portfolio emissions by 2025 are promising. However, significant gaps remain in GHG emissions data, lacking Scope 1, 2, and 3 specifics, and third-party verification is absent ⚠️. Much of the content on emissions management is generic, lacking measurable outcomes beyond investment portfolios. To improve, MNRB should prioritize detailed emissions reporting, adopt recognized standards like GHG Protocol, and seek external assurance for credibility. This would elevate the report from a solid foundation to a robust sustainability narrative.
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