SUSTAINABILITY REPORT Cont’d MESSAGE FROM THE GROUP CEO Dear stakeholders, I am pleased to deliver the seventh edition of Press Metal’s Sustainability Report, which provides insight into our progress in managing economic, environmental, and social issues, as well as the milestones achieved in FY2022. We made a concerted effort throughout the year to operate responsibly, fairly, and most importantly, sustainably, allowing us to address challenges that faced by our organisation, society, and the planet. As a testament to our concerted sustainability efforts, I am delighted to report that Press Metal Aluminium Holdings Berhad has been recognised as one of the publicly listed companies in Malaysia with commendable sustainability practices; included as a constituent of the FTSE4Good Bursa Malaysia Index in June 2022 with a rating of 4-star. Furthermore, two (2) of our manufacturing plants, PMBtu and PMI, have obtained the Performance Standard certification from the Aluminium Stewardship Initiative, demonstrating our sustainable aluminium manufacturing practices. Leading with Good Governance We continued to enhance our sustainability efforts by strengthening our sustainability governance structure under the purview of the Board of Directors (“Board”) with the inclusion of the Risk Management Committee to oversee sustainability risks, as well as the establishment of a new Corporate Sustainability Development Team that is responsible for supporting and reporting sustainability efforts across divisions. The establishment of the ESG-Linked Executive Incentive Remuneration Framework (“ESG Remuneration Framework”) aims to incentivise executive leadership to prioritise sustainability performance, which is crucial in achieving measurable progress and contributing to a sustainable future. Thriving in Times of Change Aluminium has emerged as an essential material in the transition towards a low-carbon economy. As one of the most abundant metals on the Earth’s crust, with its lightweight properties, high strength-to-weight ratio, and recyclability, make it a preferred choice for a wide range of industrial applications. With the utilisation of aluminium in various instances, such as renewable energy sector and electric vehicles (“EV”), it signals significant potential applications of aluminium across extensive sectors. Our smelters predominantly use renewable energy sources which are essential to minimise our overall carbon footprint. We continue to drive sustainability by promoting sustainable practices, fostering innovation, and investing in sustainable technologies. These efforts will help us move towards a more eco-friendly and socially responsible future. Protecting the Environment We are committed to reducing our environmental impact and have invested in optimising our manufacturing processes by improving our energy efficiency, reducing GHG emissions and water usage, minimising waste generation, and promoting circularity. In FY2022, we have achieved a significant milestone by reducing our water withdrawal intensity by 29.0% from the 2016 baseline, which surpasses our target of 10% reduction by 2030. Additionally, we are pleased to share that our collaboration with a licensed waste recovery company is progressing well, and we are on our way to achieving our goal of zero-landfill waste by 2030. Earlier on, Press Metal entered into an agreement with a licensed waste recovery company to support the development of Full Recovery Plant in Bintulu, Sarawak. With the commissioning of the Full Recovery Plant, it will enable us to recover and recycle aluminium dross and scrap into reclaimed ingots, thereby reducing the amount of waste sent to waste disposal site. PRESS METAL ALUMINIUM HOLDINGS BERHAD 81
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