ASTEEL GROUP BERHAD
Malaysia | 7020.KL | Main
Reference
Report Year: 2023
Source Files: ASTEEL_Annual_Report_2023.md
Sustainability Committee
Sustainability Committee (Unknown pax) 🟢
- Board oversight 🟢
- Senior Management involvement 🟢
Reporting
UN SDGs, Integrated Report 🟢
GHG Accounting
ASTEEL Group Berhad's 2023 sustainability report lacks detailed GHG accounting data, with no specific figures provided for Scope 1, 2, or 3 emissions. There is no mention of a base year, boundary, GWP basis, or third-party verification, which limits transparency. While the company highlights energy-saving initiatives and a shift to renewable energy sources, the absence of quantifiable emission metrics hinders a comprehensive assessment of their decarbonization efforts. A key improvement area is to establish a robust GHG inventory with absolute emission values and seek third-party verification to enhance credibility. Additionally, reporting on carbon intensity could provide stakeholders with a clearer picture of environmental impact relative to production output.
Emissions
| Scope | Value | Note |
|---|---|---|
| Scope1 | Not reported ⚠️ | Scope 1 emissions data unavailable. |
| Scope2 | Not reported ⚠️ | Scope 2 emissions data unavailable. |
| Scope3 | Not reported ⚠️ | Scope 3 emissions data unavailable. |
| 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: Not specified
- Data collection approach: Not specified
- Third party verification: Not mentioned
- Carbon intensity: Not reported ⚠️
Efforts
- Converted to clean electricity 🟢
- Recycled 9.42 kg/tonne steel 🟢
- Solar panel installation 🌞
- LED lighting adoption 🌱
Social Highlights
- 479 employees trained on safety 🟢
- MYR 54K community investment 🥗
- 21 community beneficiaries 🥗
- 175 children supported educationally 🥗
- Limited data available ⚠️
Governance
- Salary disclosure: Can’t find ⚠️
Report Quality
Commendable initiatives are evident in ASTEEL Group Berhad’s 2023 sustainability report, particularly in energy-saving measures and community engagement with quantifiable outcomes like MYR 54,043.15 invested in communities 🟢. The integrated report aligns with UN SDGs, showing a structured approach to sustainability. However, the absence of detailed GHG emission data and third-party verification limits transparency ⚠️. Generic statements about ‘responsible consumption’ lack supporting metrics, reducing the report’s impact. Forward-looking commitments, such as solar panel installation, are promising but need specific targets (e.g., expected energy generation). To improve, ASTEEL should incorporate absolute emission figures, pursue verification, and outline measurable goals for decarbonization. This would elevate the report from a foundational effort to a robust tool for stakeholder trust and accountability.
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