Page 171 - SC SCAR 2023 ENGLISH Flipbook

ENTERPRISE SUSTAINABILITY
The increasing severity of climate change has prompted a global upsurge in the call for increased efforts to combat this issue. As an organisation, the SC has been taking progressive steps to integrate sustainability into its activities and operations, including measures relating to the optimisation of resources and the reduction of wastage.
To intensify its sustainability efforts, the Sustainability First Initiative (SFI) was established to support the SC in becoming a more sustainable organisation.
The SC commits to be carbon neutral by 2040 and net-zero by 2050, in line with Malaysia’s overarching climate aspiration to be a net-zero greenhouse gas emissions (GHG) nation by 2050, at the earliest.
In 2023, the SC, through a dedicated Sustainability First Task Force, developed the SFI Roadmap, which outlines a strategic plan covering ESG pillars, and sets out actions to be adopted or considered by the SC across the horizon until 2050.
Environmental
Following an assessment of its GHG inventory, the SC’s GHG emissions were found to be relatively small in comparison with other entities. The SC’s Scope 1 emissions are primarily from mobile and stationary combustion sources, while Scope 2 emissions are predominantly from electricity consumption at its main building in Bukit Kiara. Scope 2 emissions represent the main source of the SC’s emissions, amounting to approximately 85% of the SC’s total emissions.
The SFI Roadmap outlines actions and milestones which will accelerate the SC’s sustainable transition to achieve carbon neutrality by 2040 and net-zero by 2050. These include immediate actions such as replacing conventional lighting with LED lighting on a phased basis throughout the SC’s premises. This is expected to lead to significant energy savings and reduction to the SC’s carbon footprint.
The SC will also install solar panels on the SC building which would serve to reduce its dependency on grid electricity. The immediate benefits include decreased
PART 5 ORGANISATION INFORMATION
SC as a more sustainable organisation
Social
Positive social impact on targeted stakeholders
• Employer of choice
• Foster financial literacy • SC as a responsible
corporate citizen
Environment
Carbon neutral by 2040 and net-zero by 2050
• Carbon emissions management
• Carbon reduction
• Scenario analysis
Governance
Oversight and governance on SC’s sustainability matters
• Oversight of sustainability matters
• Sustainability reporting
SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023 169