THREE of Sunway’s public listed companies are supporting the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) that stands behind the Paris Agreement to reduce global warming to under 2°C, compared to pre-industrial levels.
The three companies – namely Sunway Bhd, Sunway Construction Group Bhd and Sunway REIT – also supports the aim of achieving a carbon neutral world by 2050, along with over 1,700 other organisations from around the world.
According to Sunway Group president Chew Chee Kin, the group has already aligned its material environmental, social and governance (ESG) issues to the United Nations Sustainable Development Goals (UNSDG) and the TCFD would allow Sunway to engage with its companies and investors.
“Our commitment to disclosure in accordance with the recommendation of TCFD will help our company identify and assess risks posed by climate change,” Chew said.
The four areas of disclosure laid out by the taskforce are governance, strategy, risk management as well as metrics and targets.
In 2020, Sunway set up a Board Sustainability Committee to oversee, assess and manage material matters that are ESG-related. The board oversees the group’s sustainability strategy and integrates sustainability risks into our overall risk management.
Additionally, Sunway actively embarks on initiatives that are in line with its commitment to advancing the 17 UNSDGs.
Using one of Sunway’s key milestones as an example, the investment in a water treatment plant in Sunway City Kuala Lumpur allowed for 8.5 million litres of water to be processed every day and contributed in providing water to selected commercial buildings within the township.
Last year, Sunway joined forces with ENGIE Southeast Asia to boost the country’s environmental sustainability effort through the expansion of the district cooling technology, which will accelerate the adoption of district cooling technology in Malaysia.
Also last year, the group was able to generate 3% of electricity from solar panels, divert 9% of waste from the landfill and reduce water intensity by 26% from baseline year of 2015. – Feb 22, 2021