Climate Change Data

NATURAL COOL HOLDINGS LIMITED

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:7,098 tCO2e
Scope 1 Emissions:6,297 tCO2e
Scope 2 Emissions:801 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:104,579 GJ
Water Consumption:24,948 m3
Waste Generated:Not disclosed
Carbon Intensity:49.2 tCO2e/S$ million revenue (Scope 1 & 2)

ESG Focus Areas

  • Sustainable Business Performance
  • Total Customer Satisfaction
  • Water Conservation
  • Energy conservation and GHG emissions reduction
  • Waste management
  • Employment
  • Employee development
  • Occupational health and safety
  • Ongoing community engagement
  • Corporate governance and code of ethics

Environmental Achievements

  • Replaced less energy-efficient and obsolete cargo lift with modern lifts, leading to electricity savings.
  • 19% of Aircon and Engineering Division's vehicle fleet transitioned to EVs by 31 December 2023.
  • Invested in EV charging points at premises.
  • 3,243 used refrigerant gas cylinders recycled (2022: 2,511).
  • 2,128 liters of used cooking oil collected and processed (2022: Not available).

Social Achievements

  • Zero incidents of unlawful discrimination against employees.
  • Average training hours per employee: 4.0 (2022: 4.6).
  • Participated in Let’s Take A Walk and donated exercise books to Sri Lankan students.
  • Donated over S$40,000 to various charitable organizations.

Governance Achievements

  • Zero confirmed incidents of corruption.
  • Zero incidents of non-compliance with laws and regulations resulting in significant fines or sanctions.
  • Singapore Governance and Transparency Index (SGTI) score: 89 (2022: 82).

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Reduce absolute Scope 1 and Scope 2 GHG emissions by 30% by FY2035 (FY2022 as baseline).
Short-term Goals:
  • Maintain or reduce GHG emissions intensity.
  • 5% increase in number of gas cylinders recycled.
  • Maintain or reduce water consumption intensity.
  • Maintain overall turnover rate at 20% or less.
  • Achieve an average of 5 training hours per employee.

Environmental Challenges

  • Decline in revenues at Aircon and Engineering Division (5% decrease compared to 2022).
  • Delays in some projects.
  • High interest rates and business costs.
  • Weak consumer confidence.
  • Stiff competition in the ACMV industry.
  • Escalating raw material prices and labor shortages in Paint and Coatings Division.
  • Losses in Huat Kueh business (Hong Huat) in F&B Division.
Mitigation Strategies
  • Commercial Installation Department accepted smaller projects with faster turnaround times.
  • Improved sales through creative promotions and marketing initiatives.
  • Implemented the “CoolHub” mobile app.
  • Tailored color customization solutions, service-oriented mindset, and productivity enhancements in Paint and Coatings Division.
  • Restructuring exercise in F&B Division to reduce underperforming product lines.
  • Expanded collaboration with NTUC FairPrice supermarket chain.

Supply Chain Management

Supplier Audits: Regular evaluation of suppliers based on product quality, safety, and adherence to specifications.

Responsible Procurement
  • Quality assurance certifications, supply chain management, occupational health safety practices.

Climate-Related Risks & Opportunities

Physical Risks
  • Increased severity of extreme weather events
Transition Risks
  • Shifting consumer preferences for environmentally friendly products
  • Mandates on and regulations of products and services
  • Enhanced emissions-reporting obligations
Opportunities
  • Review and assessment of value chain
  • Promotion of energy-efficient air conditioners and environmentally friendly cooling coatings
  • Sourcing and distribution of air-conditioning equipment using refrigerants with lower GWP

Reporting Standards

Frameworks Used: GRI Standards, UN Sustainability Agenda, TCFD recommendations

Certifications: ISO 9001:2015, SFA license, Halal certification, ISO 45001:2018 (NCAE, JAD Solutions, Nam Fang), bizSAFE Star (NCAE), bizSAFE 3 (iFocus)

Third-party Assurance: Internal review; working towards external assurance

UN Sustainable Development Goals

  • Goal 3 (Good Health and Well-being)
  • Goal 4 (Quality Education)
  • Goal 6 (Clean Water and Sanitation)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 11 (Sustainable Cities and Communities)
  • Goal 13 (Climate Action)

Initiatives contribute to these goals through workplace safety, employee training, water conservation, economic value creation, community engagement, and GHG emissions reduction.

Sustainable Products & Innovation

  • Energy-efficient air conditioners using R-32 refrigerant, environmentally friendly cooling coating (SolCold partnership).

Awards & Recognition

  • Not disclosed