37 INTEGRATED ANNUAL REPORT 2024 Overview of Wasco Berhad Key Messages Value Creation Commitment to Governance Sustainability Journey Financial Statements Other Information STRATEGIC ROADMAP & PROGRESS ADVANCING SUSTAINABILITY AND ENVIRONMENTAL STEWARDSHIP DRIVING DIGITAL TRANSFORMATION AND TECHNOLOGICAL INNOVATION Key Initiatives • Achieving Net-Zero Scope 1 and 2 Emissions by 2026 – Wasco is making steady progress on its Net Zero Emissions Plan, targeting Scope 1 and 2 carbon neutrality by 2026 through energy efficiency measures, renewable energy adoption, and carbon offset programmes. • Sustainable & Transition Finance Framework – We launched our STFF, to align our financial strategies with global sustainability goals. This framework enables ESG-linked financing and supports the development of green and transitional energy projects. • Renewable Energy Integration – Our renewable energy mix has increased to 27% of our total energy use. In addition, rainwater harvesting systems now contribute 5% of our total water consumption, enhancing our water conservation efforts. • Wasco Forest Initiative Expansion – Building on our commitment to carbon sequestration and biodiversity conservation, Wasco is expanding its reforestation efforts with new phases potentially covering up to 670 hectares. This initiative will support long-term carbon sequestration and offsetting, ecological restoration, and local community engagement in conservation efforts. • Expanding Energy Transitioning Capabilities – Leveraging our expertise in carbon capture pipeline coating and renewable energy infrastructure fabrication, we are actively exploring new areas to strengthen our position as a comprehensive industrial decarbonisation solutions provider. Key Initiatives • Pipe Production and Operations Analytics – Achieving real-time visibility into plant production is a critical first step towards operational excellence. By leveraging data-driven insights, we can quickly diagnose anomalies and address daily operational challenges with precision - ensuring we target the right issue, with the right mitigation, at the right time. • Digital Finance and Robotic Process Automation (“RPA”) – We are transforming our approach to business performance by adopting data analytics and RPA technologies. These efforts automate repetitive tasks, freeing up our employees to focus on higher-value activities and strategic decision-making. • AI-Driven Safety Programmes – Our CARE Card system leverages AI, Generative AI (“GenAI”) and advanced data analytics to improve workplace safety monitoring, compliance, and risk mitigation strategies. • ESG Performance Monitoring – Since 2022, our Environmental Dashboard has consolidated emissions data from our global operations, allowing us to pinpoint emissions hotspots and implement targeted carbon reduction measures. – In 2023, we introduced our Governance Dashboard to centralise the monitoring of compliance risks and social performance indicators. – In 2024, we expanded this framework to include key social metrics like Social Impact, Circular Economy initiatives, workforce diversity, and employee engagement, with more enhancements on the horizon. • Cybersecurity & Compliance – We continue to strengthen data protection and risk management through advanced cybersecurity technologies. These measures ensure regulatory compliance, safeguard our digital assets, and reinforce stakeholder confidence. Sustainabilities is at the heart of Wasco’s operations. We have set bold decarbonisation targets and are actively embedding ESG principles across all aspects of our business to accelerate a cleaner, more sustainable energy transition. Digitalisation is a key enabler of Wasco’s long-term competitiveness, driving operational efficiency and supporting our sustainability objectives. We are actively integrating Industry 4.0 technologies, AIdriven solutions, and advanced data analytics to enhance productivity, improve decision-making, and unlock new growth opportunities across our operations. Linked to: Material Matters Capitals F S N H 1345789111213 14 15 16 17 18 Linked to: Material Matters Capitals F I 9 11 15
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