S P SETIA BERHAD
Malaysia | 8664.KL | Main
Reference
Report Year: 2024
Source Files: S_P_Setia_IR2024_Part_1.pdf, S_P_Setia_IR2024_Part_2.pdf, S_P_Setia_IR2024_Part_3.pdf
Sustainability Committee
Sustainability Committee (Members Unknown) 🟢
- 6 meetings 🟢
- Published key policies 🟢
Reporting
GRI, TCFD, IFRS S1 & S2, Integrated Report 🟢
GHG Accounting
S P Setia demonstrates a structured approach to GHG accounting with clear baselines established for 2024 across Scopes 1, 2, and partial Scope 3 emissions 🟢. The adoption of the GHG Protocol and the eDew system for data collection shows commitment to transparency. However, Scope 3 reporting is limited to employee commuting and business travel, missing broader supply chain impacts ⚠️. The lack of third-party verification reduces credibility of the data. Targets are ambitious, aiming for a 45% reduction in Scope 1 and 2 by 2030 and net zero by 2050, but actionable plans for Scope 3 remain vague. Improvements should focus on expanding Scope 3 inventory and obtaining third-party verification to enhance trust and accountability.
Emissions
| Scope | Value | Note |
|---|
Other Details
- Boundary inventory: Covers Malaysian operations; Scope 1 includes mobile combustion and fugitive emissions from convention centres; Scope 2 from electricity; Scope 3 partial (Categories 6 & 7).
- Gwp basis: Not specified in report ⚠️
- Standard: GHG Protocol
- Data collection approach: Digitized via eDew system with quarterly updates and SOPs for data management.
- Third party verification: Not verified ⚠️
- Carbon intensity: Not reported ⚠️
Efforts
- Scope 1: 10% reduction 🟢
- Scope 2: 5.3% reduction 🟢
- 11.37 tonnes waste diverted 🟢
- 6.6 MWp solar panels 🌞
- Green cement in 94% projects 🌱
Social Highlights
- RM500K for community 🥗
- 3,184 beneficiaries 🥗
- 4,907 volunteer hours 🥗
- 345 employees trained 🟢
- Limited data available ⚠️
Governance
- Salary disclosure: Disclosed 🟢
- Litigation: Can't find ⚠️
Report Quality
Commendable effort by S P Setia in producing a comprehensive integrated sustainability report for 2024 🟢. The report excels in providing quantifiable actions such as emission reductions (10% Scope 1, 5.3% Scope 2) and waste diversion (11.37 tonnes), alongside clear targets like net zero by 2050. The adoption of frameworks like GRI and TCFD, and detailed social impact metrics (e.g., RM500K community investment), reflect a structured approach. Forward-looking commitments are evident with mid-term emission goals and policy developments like the Biodiversity Policy. However, gaps remain with limited Scope 3 reporting and lack of third-party verification for GHG data ⚠️. Some statements on sustainability are generic, lacking deeper evidence of impact. The report could benefit from expanding Scope 3 coverage, incorporating verified data, and providing more measurable outcomes for social initiatives to enhance credibility and depth.
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