Thakral Corporation Ltd
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:5.67 TJ
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Economic Contribution to Society
- Climate Change
- Employee Management
- Training & Development
- Health & Safety
- Business Ethics
- Marketing & Labeling
Environmental Achievements
- Zero non-compliance incidents under environmental laws and regulations
- GemLife Gold Coast development received certification under the Urban Development Institute of Australia’s EnviroDevelopment program
Social Achievements
- Maiden foray into impact investing (BillionBricks)
- Winner of The Most Transparent Company Award (Consumer Discretionary) in the SIAS Investors’ Choice Awards 2022
- Supported various initiatives and programmes including the UOB Global Heartbeat Virtual Run/Walk 2022, the Malay Youth Literary Association and Dementia Singapore
- Renewed support for the North East Growth Fund for another three years, providing milk and diaper support for children from low-income families
- Made a one-off donation to support the flood victims in Malaysia
- GemLife supported many national, state, and local organisations and events via sponsorships and fundraising initiatives, contributing well over A$300,000
Governance Achievements
- All directors attended the Environment, Social and Governance Essentials (Core) training conducted by the Singapore Institute of Directors
- Zero confirmed incidents of corruption
- Zero incidents of non-compliance with product and service information and labelling
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Rising global temperatures, extreme weather patterns and floodings
- High turnover among beauty advisors (33% turnover rate)
Mitigation Strategies
- Collaborating with partners to reduce carbon footprint and energy consumption
- Phased approach to gradually reduce energy consumption and carbon footprint
- Digitization of processes to reduce paper usage
- Addressing high turnover through training and career development, team building and compensation reviews
- Implementing a performance and career development evaluation system
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
- Fire
Transition Risks
- Regulatory changes
- Market changes
- Technological changes
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: GRI Standards 2021, TCFD recommendations, SASB standards
Certifications: GemLife Gold Coast EnviroDevelopment certification
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Winner of The Most Transparent Company Award (Consumer Discretionary) in the SIAS Investors’ Choice Awards 2022
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:1248.91 tCO2e
Scope 1 Emissions:23.64 kg CO2e (China), 4.87 kg CO2e (Hong Kong), 7.10 kg CO2e (Japan)
Scope 2 Emissions:29,248.41 kg CO2e (China), 94,219.84 kg CO2e (Hong Kong), 631,823.35 kg CO2e (Japan)
Scope 3 Emissions:1248.91 tCO2e
Total Energy Consumption:6.05 TJ
ESG Focus Areas
- Economic Contribution
- Climate Change
- Employee Management
- Training & Development
- Health & Safety
- Business Ethics
- Marketing & Labeling
Environmental Achievements
- GemLife launched an innovative A$75 million Virtual Power Plant program initiative for their communities to be energy independent by providing up to 90 percent on-site renewable energy generation and storage, thus reducing energy bills for homeowners
- 63.5% of Japan investment properties have been fitted with LED lighting
- Zero non-compliance incidents under environmental laws and regulations
- BillionBricks reported good progress for net-zero housing in the Philippines including MOU signed with Quezon City Government to construct a solar-powered net-zero structure as well as partnerships for 38 homes
Social Achievements
- Renewed long-term collaboration with North East CDC from 2019 to 2025
- Received the People’s Association Community Spirit Awards 2023 – Merit Award (Consecutive winner for two years)
- Donated approximately 170 wheelchairs and walkers, significantly aiding in improving the beneficiaries’ mobility and independence
- Donated approximately S$309,000 to various charitable organisations and programmes
Governance Achievements
- Winner, Most Transparent Company Award (Consumer Discretionary) SIAS Investors’ Choice Awards 2023 (Consecutive winner for two years)
- Appointed first female Director to diversify and create a more balanced leadership culture
- Board approved the Group’s Workplace Health & Safety policy and reviewed/updated all other relevant policies
Climate Goals & Targets
Long-term Goals:
- Deliver positive returns to shareholders
- Contribute at least 2% of net profit or S$0.5 million (whichever higher) for CSR activities
- Maintain employee retention rate at 70% (excluding BAs)
- Achieve at least 20% of long-serving employees above 10 years (excluding BAs)
- Maintain zero incidents/penalties/fines of non-compliance in connection with labour legislations and workplace discrimination
- Allocate circa 10-20% (cumulative basis) of budgeted investment pool to impact investing opportunities
- Ensure at least 90% of Japan investment properties are fully fitted with LED lightings
- Maintain zero incidents of regulatory non-compliance
- Maintain within top 20% level under the SGTI and not more than 15% decline in base score
- Maintain zero incidents of non-compliance concerning product and service information and labeling
Medium-term Goals:
- Deliver positive returns to shareholders
- Contribute at least 1% of net profit or S$0.5 million (whichever higher) for CSR activities
- Achieve staff retention rate of 70% (excluding BAs)
- Achieve at least 15% of long-serving employees above 10 years (excluding BAs)
- Maintain zero incidents/penalties/fines of non-compliance in connection with labour legislations and workplace discrimination
- Allocate circa 10% (cumulative basis) of budgeted investment pool to impact investing opportunities
- Ensure at least 70% of Japan investment properties are fully fitted with LED lightings
- Maintain zero incidents of regulatory non-compliance
- Maintain within top 20% level under the SGTI and not more than 15% decline in base score
- Maintain zero incidents of non-compliance concerning product and service information and labeling
Short-term Goals:
- Deliver positive returns to shareholders
- Contribute at least 1% of net profit or S$0.5 million (whichever higher) for CSR activities
- Achieve staff retention rate of 60% (excluding BAs)
- Achieve at least 10% of long-serving employees above 10 years (excluding BAs)
- Maintain zero incidents/penalties/fines of non-compliance in connection with labour legislations and workplace discrimination
- Explore/collaborate with partners for affordable and clean energy to needy communities
- Ensure at least 50% of Japan investment properties are fully fitted with LED lightings
- Maintain zero incidents of regulatory non-compliance
- Implement targeted training for higher-risk employees
- Maintain zero incidents of non-compliance concerning product and service information and labeling
Environmental Challenges
- Increase in energy consumption primarily attributed to the relocation and expansion of floor areas in our Hong Kong warehouse and office, and higher number of employees returning to office in China resulting in almost doubling of the GHG emission intensity in China
- High employee turnover rate (45.2%) due to the high turnover rate for Beauty Advisors in China
- Not all donation requests received were in line with management’s donation direction, resulting in lower than target CSR contributions
Mitigation Strategies
- Monitoring and improving energy efficiency throughout operations
- Monitoring developments of carbon pricing regulations
- Continuing to invest in renewable energy and sustainable solutions investments
- Revising exit interviews to include negative/unsafe working environment as a specific departure reason
- Evaluating and developing employee-centric benefits
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Flooding
- Storms
- Extreme temperatures
Transition Risks
- Increased pricing of GHG emissions
- Cost to transition to lower emission technology
- Market changes
- Reputational damage
Opportunities
- Investing in renewable energy and sustainable solutions
- Developing energy-efficient products
Reporting Standards
Frameworks Used: GRI Standards 2021, SASB standards, TCFD recommendations
Sustainable Products & Innovation
- Sienna net-zero house design (BillionBricks)
Awards & Recognition
- Most Transparent Company Award (Consumer Discretionary) - SIAS Investors’ Choice Awards 2023
- People’s Association Community Spirit Awards 2023 – Merit Award