IMASPRO CORPORATION BERHAD
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Governance and Ethics
- Customer Satisfaction
- Occupational Health & Safety
- Financial Performance
- Climate Change & Energy Efficiency
- Effluent & Waste Management
- Diversity & Inclusiveness
- Supply Chain Management
Environmental Achievements
- Investments in automation and process engineering minimized resource wastage and reduced waste material production.
- Energy-saving LED lightings were used to minimize energy usage and reduce carbon footprint.
- Rainwater harvesting was practiced for sanitation purposes.
Social Achievements
- Continuous dengue awareness programs conducted in partnership with healthcare agencies.
- Provided support to employees and customers requiring vaccinations.
- Extended help to flood victims.
- Offered industrial training and internship opportunities to students.
Governance Achievements
- Reviewed and updated Board Charter and Code of Ethics and Conduct.
- Appointed a new woman director to the Board.
- Conducted an internal board effectiveness assessment.
- Adopted a Gender Diversity Policy.
- Adopted an anti-Bribery and anti-Corruption Policy.
Climate Goals & Targets
Environmental Challenges
- Reduced demand in domestic and international markets.
- Increased competition and downward price pressures.
- Withdrawal of registrations for chlorpyrifos and carbofuran products.
- Global supply chain disruptions, container shortages, and escalating shipping costs.
- Increased government scrutiny of agrochemicals.
- Falling Ringgit impacting raw material purchases and product sales.
- Rising raw material costs due to the strengthening US Dollar.
- Climate change impacting agriculture.
- Shift towards organic and higher-quality food products.
- Stringent regulations governing agrochemical products and phase-out of existing ones.
- Market competition and counterfeit products.
Mitigation Strategies
- Comprehensive review of product portfolio, pricing strategies, and operational efficiencies.
- Exploring opportunities for diversification and identifying growth markets.
- Launch of a new insecticide brand and repositioning of other insecticide products.
- More robust planning process for stock requisitions.
- Securing alternative sourcing channels, particularly from local suppliers.
- Ongoing supplier assessments to identify vulnerabilities.
- Diversifying supplier base by establishing secondary supplier relationships.
- Effective marketing and sales campaigns to enhance brand value.
- New product development focusing on environmentally-friendly and innovative formulations.
- Investing in employee training and development initiatives.
Supply Chain Management
Responsible Procurement
- Maximising value creation by reducing supply chain costs, improving transactional processes, maintaining long-term relationships with suppliers, complying with laws and regulations, and enhancing efficiency.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: Malaysian Code on Corporate Governance