WASCO BERHAD 32 S SOCIAL & RELATIONSHIP CAPITAL Achievements • ESG Recognition: Achieved two prestigious silver awards at The Edge Malaysia ESG Awards 2024: Best Performer in the Energy Sector and Most Improved ESG Performance Over the Past Three Years (RM800 Million - RM5 Billion Market Capitalisation Category) highlighting our dedication to environmental, social, and governance excellence. • Global Compact Membership: Joined the UNGCMYB, reinforcing our dedication to sustainable and ethical business practices, and aligning with global sustainability standards. • Community Engagement Programme: Actively engaged with local communities, creating mutually beneficial partnerships underpinned by sustainability and contributing to inclusive growth in various locations. With an investment of RM777,578 and 11,779 volunteer man-hours, 11,936 people benefited from our social impact initiatives. • Supplier Partnerships: Initiated a pilot Scope 3 Greenhouse Gas (“GHG”) Emissions Engagement with key suppliers to understand their GHG emissions and develop joint initiatives to reduce emissions. 2024 Focus • Strengthen regulatory engagement to maintain alignment with evolving energy transition policies. • Expand ESG and social impact initiatives, particularly in areas related to education, healthcare and the environment. Our Approach Wasco prioritises stakeholder engagement, regulatory compliance, and social impact initiatives to ensure a strong, sustainable, and ethical business foundation. We foster trust with investors, clients, regulators, and communities through transparent ESG disclosures, ethical business practices, and long-term community investments. VALUE CREATION MODEL Trade-Offs Regulatory compliance vs. business agility: Adapting to evolving ESG standards strengthens our corporate reputation and ensures regulatory compliance, but it also introduces increased compliance costs and more rigorous reporting obligations. Community investments vs. shareholder expectations: Supporting social impact initiatives aligns with long-term value creation and strengthens community relationships, but it requires careful financial planning to balance the needs of both social impact and shareholder returns.
RkJQdWJsaXNoZXIy NDgzMzc=