IGB Berhad
Climate Impact & Sustainability Data (2022, 2023, 2024)
Reporting Period: 2022
Environmental Metrics
Total Energy Consumption:97,250,000 kWh (Malls) + 24,275,000 kWh (Offices) in 2022
Water Consumption:732,000 m3 (Malls) + 28% (Offices) in 2022
Waste Generated:1,486 tonnes (Malls) + 18 tonnes (Offices) in 2022
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Installation of a new chiller system resulting in 44% energy savings from the 2019 baseline.
- IGB International School signed an agreement for a 360kW solar panel system, expected to reduce electricity consumption by approximately 25%.
Social Achievements
- Various community initiatives resumed post-Covid-19 restrictions, including donation drives and charity events.
- IGB International School achieved the highest International Baccalaureate® (IB) Diploma Programme (DP) average exam score in its history.
Governance Achievements
- Centralized tracking and collection of sustainability performance data, presented to the Board quarterly.
- Improved sustainability data reporting by incorporating information from The Mall, Mid Valley Southkey.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Explore avenues for further energy conservation and management.
- Expand existing waste management initiatives.
Short-term Goals:
- Expand rainwater harvesting system at The Gardens Mall.
Environmental Challenges
- Increased energy consumption due to post-pandemic economic recovery.
- Increased water consumption due to post-pandemic economic recovery.
- Increased waste disposal due to post-pandemic economic recovery.
- Labour shortages impacting various business units.
- Rising operating and food costs.
- Global supply chain disruptions and higher construction costs.
- Oversupply of high-end properties.
- Slower than expected return of international families to Malaysia, impacting IGB International School enrolment.
Mitigation Strategies
- Implementing energy-efficient technologies and practices.
- Expanding rainwater harvesting systems.
- Implementing waste management initiatives, including recycling and composting.
- Providing multi-skilled training to employees.
- Adjusting prices to account for rising costs.
- Actively seeking buyers for non-core assets.
- Exploring opportunities for investment in future projects.
- Active overseas student recruitment for IGB International School.
- Aggressive marketing approach for IGB International School.
- Revamping IGB International School website.
Supply Chain Management
Responsible Procurement
- Responsible sourcing of materials in UK hotels.
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather
Transition Risks
- Taxation or penalties imposed on carbon emissions.
Opportunities
- Developing resilience to climate change; lower operating costs through efficient energy and material management; renewable energy investments.
Reporting Standards
Frameworks Used: Bursa Malaysia Securities Berhad (Bursa Malaysia) Main Market Listing Requirements
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Ethics-Driven Performance
- Responsible Supply Chain
- Safeguarding the Environment
- Positive Community Impact
Climate Goals & Targets
Supply Chain Management
Responsible Procurement
- integrating sustainability considerations into procurement activities
Climate-Related Risks & Opportunities
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Sustainability
- Environmental, Social, and Governance (ESG)
Governance Achievements
- Established a Board Charter outlining corporate governance practices.
- Established a Directors’ Code of Ethics.
- Established a COI Policy.
- Established an IGB Strategy and Risk Framework.
- Established an IGB Group Policy on Fit and Proper Criteria for Directors (FAP Policy).