SUSTAINABILITY REPORT Cont’d Our Approach Press Metal’s approach to tackling climate change is depicted in our Carbon Neutral Policy: • Transitioning to renewable energy sources • Deploying effective and low-carbon technologies in the production line • Optimising and improving the efficiency of the technology process • Monitoring our carbon emissions • Promoting circular economy throughout the value chain • Funding climate protection projects to offset unavoidable GHG emissions To achieve our climate change goals, we have set measurable targets for reducing GHG emissions across the Group, exhibited in the Carbon Neutral Policy and GHG Reduction Targets which can be viewed at our corporate website: https://www.pressmetal.com/investor-relations/corporate-governance.php. • Reduction of GHG emissions intensity (Scope 1 and Scope 2) by 15% from the 2020 baseline by 2025 • Reduction of GHG emissions intensity (Scope 1 and Scope 2) by 30% from the 2020 baseline by 2030 • Achieve carbon neutrality by 2050 2020 baseline for GHG emissions intensity: 2.4 tCO2-eq/ tonne of aluminium In FY2022, we rolled out the Baseline Recalculation Policy to allow for the reformulation and recalculation of GHG emissions targets should they become irrelevant. This Baseline Recalculation Policy allows for adjustment to the GHG emissions baseline, to reflect significant changes that would compromise the relevance and consistency of the existing targets. Significant changes in this context include structural changes, changes or improvements in methodology, significant errors, and other changes such as organisational and operational boundary changes. Climate Change Governance The Board actively oversees the Group’s approach to managing climate-related risks and opportunities that are most pertinent to the business operations and the impacts arising. This includes the development of climate-related policies, strategies, and ongoing performance monitoring. Mr Lim Hun Soon @ David Lim, one of our Independent NonExecutive Directors, has been delegated to provide dedicated attention to managing the climate-related matters of the Group. The Board reviews the progress of sustainability matters including the climate agenda every quarter, while the RMC provides valuable support in addressing climate-related risks. At the management level, the Group CEO who leads the SC, is entrusted with the responsibility to develop climate strategies and policies, monitor performance periodically, and ensure sufficient resource allocation to implement our climate initiatives. Read more on our sustainability governance in the Sustainability Governance section of this Report Read more on our ESG Remuneration Framework in Linking ESG to Remuneration section of this Report PRESS METAL ALUMINIUM HOLDINGS BERHAD 117
RkJQdWJsaXNoZXIy NDgzMzc=