Climate Change Data

Wing Tai Holdings Limited

Climate Impact & Sustainability Data (2024)

Reporting Period: 2024

Environmental Metrics

Total Carbon Emissions:2820 tCO2e/year
Scope 2 Emissions:2820 tCO2e/year
Total Energy Consumption:5920 MWh/year
Carbon Intensity:0.05 tCO2e/m2 (total Scope 2 emissions intensity)

ESG Focus Areas

  • Environmental Responsibility
  • People Matters
  • Market Responsibility
  • Caring for the Community

Environmental Achievements

  • Winsland House I & II achieved Green Mark Gold Plus certification.
  • The LakeGarden Residences attained BCA Green Mark Platinum Super Low Energy certification.
  • 4% reduction in energy consumption and Scope 2 GHG emissions target set for Winsland House I & II by 2030.
  • Implementation of energy-saving practices in corporate offices and retail stores.
  • Transitioned from traditional mass concrete to sand blankets in Penang developments, reducing cement usage.

Social Achievements

  • 33% of Board of Directors are female.
  • High proportion of female employees (66% in Singapore, 65% in Malaysia).
  • BizSAFE Level 3 qualification awarded to the Company.
  • Zero work-related fatalities.
  • 84% participation rate in the annual Employee Engagement Survey, with a composite eSat score of 71.

Governance Achievements

  • Strict policy against bribery and corruption practices.
  • Whistleblowing policy implemented.
  • Zero incidents of corruption or bribery.
  • Successful completion of Digital Transformation Roadmap in Singapore and Malaysia.
  • Integration of Anti-Money Laundering checks into the sales management system.

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero emissions (timeline not specified).
Medium-term Goals:
  • Achieve a 4% reduction in energy consumption and Scope 2 GHG emissions by 2030 for Winsland House I & II.
  • Adopt a consistent GHG emissions consolidation approach.
Short-term Goals:
  • Obtain Green Mark Gold Plus certification renewal for Winsland House I & II.
  • Monitor energy consumption for large deviations.
  • Replace corridor and lift lobby lightings with LED lightings in Winsland House I & II.

Environmental Challenges

  • Slight increase in total GHG Scope 2 emissions due to opening of new retail stores in Malaysia.
  • High voluntary turnover rate in Malaysia (77%), mainly from the retail division.
  • Potential risks related to climate change (flooding, rising temperatures, water stress).
Mitigation Strategies
  • Implementing energy-saving practices and exploring renewable energy options.
  • Stepping up engagement with retail employees, providing career support and development opportunities.
  • Conducting climate scenario analysis to identify and manage climate-related risks and opportunities.
  • Enhancing risk management approach by systematically mapping climate-related risks and assessing their impacts.

Supply Chain Management

Responsible Procurement
  • Stringent pre-qualification criteria for contractors, including track record, financial strength, and commitment to quality, environmental management, and workplace health and safety.
  • Requirement for contractors to be ISO 9001, ISO 14001, and ISO 45001 certified.

Climate-Related Risks & Opportunities

Physical Risks
  • Urban flooding
  • Riverine and coastal flooding
  • Tropical cyclones
  • Rising mean air temperatures
  • Water-stress levels
  • Changing precipitation patterns
Transition Risks
  • Policy and regulation risks
  • Technology risks
  • Market and reputational risks
Opportunities
  • Transitioning to low and zero emission energy sources
  • Improving energy and water efficiency
  • Climate resilience and energy efficiency
  • Attracting sustainability-focused tenants and buyers
  • Securing grants

Reporting Standards

Frameworks Used: GRI Standards 2021, TCFD recommendations

Third-party Assurance: Internal audit review; considering independent assurance in the future

UN Sustainable Development Goals

  • SDG 7
  • SDG 12
  • SDG 13
  • SDG 5
  • SDG 8
  • SDG 10
  • SDG 16
  • SDG 2

The Group's sustainability efforts are aligned with these SDGs, focusing on energy efficiency, responsible consumption and production, climate action, gender equality, decent work, reduced inequalities, peace, justice, and zero hunger.

Sustainable Products & Innovation

  • The LakeGarden Residences (BCA Green Mark Platinum Super Low Energy certification)