Sunway Bhd

In 2020, Sunway Group set up a Board Sustainability Committee to oversee, assess and manage material matters that are ESG-related – the Board oversees the Group's sustainability strategy and integrates sustainability risks into our overall risk management. [...] With the aid of the Board, Sunway is working towards the four areas of disclosure recommendations laid out by the taskforce which include governance, strategy, risk management as well as metrics and targets.

Leading the industry, Sunway Group has forged ahead with introducing its own carbon pricing framework for its business divisions, placing a monetary value on carbon emissions to guide its business decisions and investment strategies in efforts to hit its 2030 and 2050 targets. It is doing this by setting an internal carbon pricing mechanism to meet the ambitious decarbonisation targets set for each of its business units. In 2022-2024, the price will be set at RM15/tonne of CO2 above a pre-defined threshold level — similar to the carbon price set by the Singapore government. This carbon price will be recalibrated progressively in subsequent years. Business units that fail to meet their targets will need to pay a price by having an amount deducted from their bonus pool. This way, the Group hopes to send a clear message to operators and managers that they need to start innovating to find solutions to cut carbon emissions — or pay a carbon price.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes