IQ GROUP HOLDINGS BERHAD
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
Total Energy Consumption:698.08 MWh/year
Water Consumption:6.4 Megalitres/year
Waste Generated:35.9 tons/year (diverted from disposal)
ESG Focus Areas
- Anti-corruption
- Community Investment
- Workforce Diversity
- Health and Safety
- Labour Practices and Standards
- Supply Chain Management
- Data Privacy and Security
- Energy Management
- Water Management
- Waste Management
- Emissions Management
- Materials
Environmental Achievements
- 3% reduction in electricity consumption
- 40% reduction in water consumption from repairing leaked pipes
- 35.9 metric tonnes of waste diverted from disposal
- 49.93% reduction (32,819 kg) in packaging material weight
Social Achievements
- 100% of management and general workers received anti-corruption training; 88% of non-executive/technical staff received training.
- RM2,000 invested in the community, benefiting 77 individuals.
- Zero work-related fatalities and zero lost time incident rate (LTIR).
- 3,000 training hours provided to employees.
- Zero substantiated complaints concerning human rights violations.
Governance Achievements
- Zero confirmed incidents of corruption.
Climate Goals & Targets
Long-term Goals:
- Reduce purchased electricity energy (kWh) by 60% by 2026
- Achieve zero instruction manual usage for 30% of products by 2030
Medium-term Goals:
- Reduce electricity bill by 20% by 2025
- Replace 60% of purchased electricity with renewable energy by 2026
- Achieve 90% recycled content in corrugated cardboard by 2025
Short-term Goals:
- Reduce water consumption by 40% by 2025
- Reduce electricity consumption by 5% (achieved 3%)
- Divert 32 metric tonnes of waste from disposal by 2025
Environmental Challenges
- Decrease in revenue leading to decrease in profit.
- Economic stagnation in Germany, a key market for ODM business.
- Global political volatility, particularly US-China relations impacting manufacturing.
Mitigation Strategies
- Restructuring exercise to accelerate growth.
- Maintaining low-cost manufacturing base in China and non-China manufacturing options in Malaysia.
- Focusing on own-brand initiatives ('Lumiqs' and DIY retail) to diversify revenue streams.
- Hedging foreign currency exposure through foreign currency bank accounts and forward contracts.
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
- Purchasing, Material Qualifying and Vendor Selection Review procedures
- Early Supplier Involvement (ESI)
Climate-Related Risks & Opportunities
Opportunities
- Development of energy-efficient products
- Integration of renewable energy sources
Reporting Standards
Frameworks Used: GRI, Bursa Malaysia Sustainability Reporting Guidelines and Toolkits
Certifications: ISO 14001:2015, ISO 9001:2015
Sustainable Products & Innovation
- Energy-efficient LED lighting
- IQ-group PIR motion sensor lighting and control devices