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ESG

ESG

CGS International Releases Maiden Sustainability Report

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SINGAPORE: CGS International Securities (CGS International) has released its first sustainability report, highlighting its dedication to sustainable development within Southeast Asia’s (SEA) financial services sector. This independently assured report adheres to the Global Reporting Initiative and the Sustainability Accounting Standards Board standards. In the report, Mdm Chang Yu, Chairlady of CGS International and CEO of CGS International Holdings Limited, stated, “CGS International is more than a leading financial services provider in Asia; we have a broader role to play. Whether facilitating collaborations between China and ASEAN or fostering financially savvy communities, we aim to uplift the lives of those in the markets we serve.” Ms. Carol Fong, Group CEO of CGS International, added, “By leveraging our extensive financial networks across ASEAN, CGS International is committed to steering financial services towards sustainable development in the region. Our goal is to integrate environmental, social, and governance (ESG) considerations into our products and services progressively, thereby empowering our customers with more opportunities for sustainable investment.” The report details the company’s progress in its early journey toward its eight Sustainability Focus (8SF) areas, a key component of CGS International’s Vision 2025. This vision positions sustainability as a strategic pillar in establishing CGS International as a leading world-class investment bank in Asia. The report also covers GHG emissions, including Scope 1, 2, and 3 (Category 1). CGS International has pledged to expand its Scope 3 GHG emissions measurement to include business travel starting in 2024 and will develop a climate strategy to manage these emissions in the future. To bolster its sustainability efforts, CGS International has launched the ASEAN Institute of Carbon Neutrality (AICN). AICN aims to promote climate mitigation and adaptation by developing thought leadership for capital markets. Mr. Kevin Lee, Group Head of Sustainability at CGS International, noted, “AICN leverages CGS International’s award-winning research team to advance sustainable finance knowledge in SEA through various platforms. By partnering with local entities in Malaysia, Indonesia, Singapore, and Thailand, we aim to strengthen knowledge and networks to mobilize capital towards climate action.” In December 2023, CGS International signed a Memorandum of Understanding with the National University of Singapore (NUS), marking NUS as AICN’s first partner. AICN and NUS’ Sustainable and Green Finance Institute are collaborating on three research projects on renewable energy and the just transition in SEA, with findings expected by Q4 2024. AICN will also host a series of webinars on sustainable financing to enhance ESG knowledge. The first webinar, “Understanding Just Transition & Climate Finance in the ASEAN Context,” will be held in July 2024, in collaboration with NUS.

ESG, News

Over 800 Coal Plants Worldwide Could Be Profitably Decommissioned

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SINGAPORE: More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, a research showed. Though only a tenth of existing coal plants are scheduled to shut down by 2030, more could close if efforts are made to identify opportunities, the Institute for Energy Economics and Financial Analysis (IEEFA) said. “The key problem here is a lack of a pipeline of well defined, contracted, bankable coal-to-clean transactions,” said lead author of the report, Paul Jacobson. Around 15.5 billion metric tons (MT) of carbon dioxide are generated every year by 2,000 gigawatts (GW) of coal power. The International Energy Agency says emissions need to reach zero by 2040 if temperature rises are to remain within the threshold of 1.5 degrees Celsius. But decommissioning is costly, especially if plants are still paying off debt or tied to power purchase agreements (PPAs) that commit them to supplying electricity over decades. Governments have been looking for solutions to pay for the transition – including the Asian Development Bank’s Energy Transition Mechanism – but only a small number of projects have gone ahead. The 800 viable transition targets identified by IEEFA include around 600 built 30 years or more ago, many of which have repaid debts and are no longer tied down by lengthy PPAs. With profit margins for renewables now sufficient to cover the cost of replacing coal plants, decommissioning the remaining 200 plants built between 15 and 30 years ago could also be affordable, though obstacles remain, including fossil fuel subsidies that inflate an asset’s value. Decommissioning newer plants will be a bigger financial challenge, particularly in countries still building fresh capacity, including Vietnam. Environmental groups have criticised transition financing for paying polluters not to pollute. Jacobson said “guardrails” were required to avoid creating perverse incentives. “Companies that continue to build new coal power plants while seeking concessions to build renewable energy should not be allowed to use that to benefit from this,” he said. — REUTERS

ESG

Sika Malaysia Fosters Community Spirit by Improving School Environments Across Malaysia

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KUALA LUMPUR: Sika Malaysia, part of global leader Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protection in the building sector and automotive industry — partners with PINTAR Foundation, a not-for-profit organisation aimed at enhancing education for underprivileged students in both rural areas and urban poor communities across Malaysia, in conducting a gotong-royong drive benefiting schools throughout the country. The gotong-royong drive involved more than 400 Sika Malaysia employees and benefited five schools, consisting of more than 3,000 students and 250 teachers within Sika Malaysia’s operational regions. This initiative demonstrates the company’s efforts to enhance community involvement, promote environmental awareness, and create a safer, more conducive learning environment for the students.   “I am very pleased to see the enthusiasm and dedication of the employees who came to the ground and successfully carried out the gotong-royong drive, making a significant impact on the underprivileged students,” said Francisco Retondo, General Manager of Sika Malaysia. “I would like to thank PINTAR Foundation for collaborating with us to uplift the communities where we operate, reaffirming our commitment to societal and environmental stewardship. We look forward to fostering long-term benefits with PINTAR Foundation for the disadvantaged students in Malaysia.”   “We are grateful for the opportunity to collaborate with Sika Malaysia,” said Norzalina Masom, General Manager of PINTAR Foundation. “Our new partnership is a testament to our shared commitment to make a tangible difference in the lives of underprivileged communities. Together, we’re not only pooling resources but also magnifying our impact, ensuring a nurturing environment for the educational growth of underprivileged students throughout Malaysia.”   The benefiting schools include Sekolah Kebangsaan Dato’ Ahmad Manaf in Nilai; Sekolah Jenis Kebangsaan (T) Bukit Darah in Sungai Buloh, Selangor; Sekolah Kebangsaan Telok Gong in Telok Gong, Selangor; Sekolah Menengah Kebangsaan Jalan Pasir Puteh in Ipoh; and Sekolah Kebangsaan Taman Indahpura 2 in Kulai, Johor. Sika Malaysia also donated approximately 3,300 stationery sets to the students as a means to provide them with the basic schooling needs.   Sika Malaysia’s corporate social responsibility (CSR) initiative is part of Sika’s broader global community engagement with this year’s theme, ‘One Team. Many Voices. Going Beyond Together’, observed on Sika Day, held annually on 11th June. This CSR initiative has brought together over 33,000 employees worldwide to participate in various activities, achieving 10,000 days of community engagement worldwide that aid local communities and create lasting benefits for generations to come. 

ESG, News

Invest in Green Tech IT Infrastructure to Support Country’s Sustainability Goals

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KUALA LUMPUR: Organisations with a keen interest in supporting Malaysia’s sustainability goals as outlined in the Industrial Master Plan 2030 and the National Energy Transition Roadmap are recommended to commence their sustainability efforts by investing in IT infrastructure monitoring tools.   ManageEngine President Rajesh Ganesan said the tools could effectively monitor energy consumption in buildings, devices and cloud infrastructure. He said this would help them understand how much energy they are consuming and emitting, which helps in planning and validating necessary changes, such as outsourcing, adopting green-coding practices and reducing overall energy usage. “Organisations can then implement green practices, such as investing in renewable and solar energy, whilst ensuring that they are complying with local regulations and growing responsibly in the realm of energy transition and sustainable development. Effective governance frameworks can then guide organisations in embedding sustainability into their core operations. “In addition, business leaders need to have a mindset shift regarding how sustainability will impact their bottom line and competitiveness in the long run, aside from focusing on short-term investments in costs and resources,” he said. Rajesh said in Malaysia’s context, the recognition of how green initiatives are critical for the country’s industry growth could be seen in the Malaysia Investment Development Authority’s (MIDA) approval of 4,073 green projects worth over RM38.9 billion as of September 2023 and is expected to increase in 2024. He said the Malaysian government’s strong commitment, partnered with support from the private sector in the areas of energy, agriculture, transportation and manufacturing, would enable the nation to achieve its net zero emissions target by 2050. “Local businesses need to focus on integrating sustainable practices and balance technological advancements with environmental responsibility. “By recognising that reducing Malaysia’s carbon footprint is one of the catalysts for transforming the economy on a more sustainable path, Malaysia is on the right path towards success and achieving a greener future,” he said. On ways for organisations to build a greener future, such as focusing on operational efficiency and green upgrades Rajesh recommended conducting surveys to identify unsustainable practices, using energy-efficient applications and investing in eco-friendly software and equipment. “Besides that, explore renewable energy options where applicable. Some companies strategically locate near renewable energy plants, while others install solar units on-premises,” he said. He also suggested organisations manage data centres efficiently to reduce storage and power usage by using data centre management software to analyse performance and identify bottlenecks for optimal usage. — BERNAMA

Energy & Technology, ESG, News

Giti in the Running to Become as Fastest-Growing Tyre Brand in the World

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SINGAPORE: In Brand Finance’s recent release of its 2024 World’s Most Valuable and Strongest Tyre Brands ranking, Giti was recorded to have a US$924 million increase since 2023, an impressive 19% growth, which saw Giti’s Brand Value rank improve to 9th position out of the Top 10 Tyre Brands in the world, and be hailed as the “fastest-growing tyre brand in the world this year”. With over 70 years of development, Giti has continually grown its original equipment manufacturing (OEM) business base, currently appearing as original tyres on over 675 vehicle models around the world. This secures Giti strong, stable future revenue growth prospects while increasing brand presence around the globe through the export of vehicles from the manufacturing capital of the world. Outside the vicinity of its manufacturing facilities, Giti has experienced strong acceptance and brand loyalty in Indonesia, while its reputation has seen upward progression in the UK, Italy and Germany. Setting itself apart from other tyre brands of similar origins, Giti’s focus on sustainability has also been recognised, raising the brand’s Sustainability Perceptions Value up 3 positions, to 7th position. Dedicated to all-rounded sustainability, Giti sets ambitious targets, like 100% sustainably-sourced materials, and net zero manufacturing by 2050. On track to achieve these targets, Giti has reported a year-on-year decrease in carbon dioxide equivalent emissions through initiatives like reforestation and the installation of solar panels to offset factory energy requirements. Recognised by Brand Finance as establishing a ‘solid, core technology system’, Giti embraces Industry 4.0 concepts in its recently-announced new factory (that is in the process of being constructed), which will feature state-of-the-art manufacturing facilities and the latest sustainable warehousing technologies that reduce energy consumption. Poised with a wide array of products, with particular success in EV-ready tyres, Giti has armed itself with an arsenal of tools to ride on the wave of new energy vehicles (NEVs) that has been taking the world by storm. Providing worldwide support through its global distribution network, Giti brings its high-quality products to support the increasing global demand for tyres. “We are proud of our achievements thus far, but Giti is not going to rest on these laurels. Supported by a shared corporate direction, our dedicated team from all around the world will continue to work hand-in-hand to further our developments sustainably, and to build Giti into a brand that is synonymous with the future of the automotive industry,” comments Giti Tyre Head of Marketing (Rest of World), Shiroo Chia.

ESG, News

ESG-i Assessment Framework Launched By Ficus Capital, INCEIF to Empower MSMEs

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KUALA LUMPUR: Ficus Capital, in collaboration with INCEIF University, launched its ESG-i Assessment Framework that will serve as an innovative tool to empower micro, small and medium enterprises (MSMEs) in Malaysia with sustainable practices. The launching was held at the Global Forum on Islamic Economics and Finance GFIEF 2024 that was organised by Bank Negara Malaysia (BNM), in collaboration with key industry players and under the patronage of the Ministry of Finance. The assessment framework is an inclusive blueprint for assessing sustainability that incorporates Shariah principles and the Quadruple Bottom Line (QBL) – planet, people, profit and principle. “It is natural for Islamic finance development to converge with ESG as Islamic Social Finance has been practised by Islamic Banks and Islamic Financial Institutions in Malaysia. This robust ESG-i framework is timely as a catalyst towards greater integration between Islamic finance and ESG, especially since it comes on the back of our Prime Minister Datuk Seri Anwar Ibrahim’s recent announcement on the government’s commitment towards Islamic finance innovation via partnerships,” said Religious Affairs Deputy Minister Senator Zulkifli Hasan. By simplifying complex sustainability criteria, the ESG-I Assessment Framework provides practical tools for MSMEs to help them transition to a low carbon, circular and resilient (LCCR) future, enabling them to mitigate risks, unlock new markets and enhance their financial performance. On this, Ficus Capital Chairman Nor Azamin Salleh said, “The ESG-i Framework offers a practical solution to help MSMEs integrate sustainability into their operations, which aligns with our commitment to supporting companies that operate according to ESG-i principles. “Hence, the launch of the ESG-i Assessment Framework comes at a crucial time, as global sustainability standards evolve, making it imperative for Malaysian MSMEs to adopt practices that keep them competitive and resilient while fulfilling Islamic finance principles,” he added. The Assessment Framework was piloted with a diverse group of MSMEs, demonstrating its real-world applicability and impact, highlighting the need for targeted support and the framework’s potential to drive significant improvements in sustainability practices. Meanwhile, INCEIF University President and CEO, Professor Emeritus Mohd Azmi Omar said, “The positive response from the pilot phase underscores the framework’s practicality and impact. It provides MSMEs with the necessary tools to integrate sustainability into their business practices effectively. Additionally, it empowers them to be resilient, competitive, and future-ready. “The framework aims to be a catalyst for change, promoting a sustainable supply chain and addressing the evolving sustainability landscape,” he explained.

ESG

30 Years of Bringing Communities Together through Tiger Sin Chew Chinese Education Charity Concert

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PETALING JAYA:  Heineken Malaysia Berhad (HEINEKEN Malaysia) has launched the 2024 edition of the Tiger Sin Chew Chinese Education Charity Concert (Tiger Sin Chew CECC). Celebrating its 30th anniversary, this long-standing social impact initiative, a collaboration between Tiger Beer and Sin Chew Daily, continues to unite communities for a greater cause in the spirit of true togetherness. Since its inception in 1994, Tiger Sin Chew CECC has raised over RM407 million for more than 540 schools nationwide. These funds have significantly improved educational institutions by upgrading their facilities and technology, enhancing the learning environment, and leaving a lasting impact on future generations. During the launch, Malaysia’s Deputy Education Minister, YB Tuan Wong Kah Woh, expressed his gratitude: “I want to extend a heartfelt thanks to Heineken Malaysia Berhad, Tiger Beer, and Sin Chew Daily for their steadfast commitment to this important cause. For 30 years, their efforts have not only improved educational access and quality for students but also brought our communities together, fostering a sense of unity and collective purpose. Thank you for showing us that the spirit of community and support for education is stronger than ever.” The 2024 Tiger Sin Chew CECC will kick off in July, featuring a new collaboration with trade partners. Local coffee shops and food courts across the country will host Fundraiser Nights to complement the 10 charity concerts scheduled between July and October, further strengthening community ties. Roland Bala, Managing Director of HEINEKEN Malaysia, shared, “For 30 years, the Tiger Sin Chew Chinese Education Charity Concert has fostered a strong community spirit, harnessing the joy of true togetherness to unite people for a good cause. At HEINEKEN Malaysia, we know that we can only thrive if our people, the planet, and the communities around us thrive. We are committed to giving back, supporting, and actively engaging with local communities to create a better future for all.” “This year, we’re adding a special twist to Tiger Sin Chew CECC by teaming up with our trade partners to host Fundraiser Nights. We are also grateful for the dedication and commitment of Sin Chew Daily over the past three decades. Thank you to all who have contributed with extraordinary generosity. We are truly inspired and look forward to continuing this programme for the benefit of our local communities. Cheers to 30 years of Tiger Sin Chew Chinese Education Charity Concert, and more to come!” The 2024 Tiger Sin Chew CECC aims to raise RM15 million through ten concerts for the following 11 institutions: SMJK Chan Wa II, Seremban: Construction of an audio-visual auditorium and a multipurpose hall. SJKC Tche Min, Sungai Pelek: Building a new multipurpose school hall. Chinese High School, Batu Pahat: Providing grants-in-aid to support needy students. SJKC Cheow Min, Pontian: Upgrading school facilities, including 16 smart classrooms, a library, three English language centres, and a rain cover for the school’s bus stop and basketball court. SJKC Aik Thee, Kuala Selangor: Constructing an administrative building, a school canteen, and a slip road leading to the school hall. SJKC Kampung Baru Mambau, Seremban: Enhancing school facilities in conjunction with its 98th anniversary. SJKC Thorburn, Skudai: Building two basketball court shelters, a container classroom for student activities, and upgrading computer hardware for smart classes. SJKC Jagoh, Segamat: Upgrading the school hall and existing smart classrooms and rejuvenating school facilities. Shen Jai High School, Ipoh: Supporting broader infrastructure development. SJKC Ching Chong, Semeling & SJKC Peng Min, Tikam Baru: Jointly raising funds to build a preschool to increase student enrolment. Koo Cheng, Executive Director/CEO of Sin Chew Daily, remarked, “We are proud to celebrate our longstanding partnership with HEINEKEN Malaysia, spanning three decades and counting. Reflecting on the years gone by, it’s encouraging to see the impact we’ve achieved together through Tiger Sin Chew Chinese Education Charity Concerts. We look forward to continuing this journey with HEINEKEN Malaysia, elevating education, and nurturing the spirit of unity and generosity across the communities.” In the spirit of true togetherness, join Tiger Sin Chew CECC’s efforts to make a positive impact on communities. Members of the public can get involved by attending the charity concerts, participating in fundraising activities, and supporting the trade partners’ fundraisers.

ESG, Events

Enhancing National Economic Growth Through Cooperatives

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PENANG: The COOP@IMT-GT Seminar and Conference held today highlighted the transformative power of cooperatives in driving economic growth and fostering social inclusion within the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) subregion.   The event was co-organised by the Malaysian National Cooperative Movement (Angkasa), ASEAN Cooperative Organisation (ACO) and Centre for IMT-GT Subregional Cooperation (CIMT). Focusing on the role of cooperative enterprises in financial inclusion and digital transformation, the conference expanded on innovative strategies and collaborative partnerships to unlock the full potential of cooperatives. During the conference, speakers had the opportunity to discuss challenges in harnessing that potential and develop actionable approaches to address them. At the same time, speakers were also able to share successful cooperative initiatives and best practices across the region to further inspire and empower participants to drive cooperative-driven economic growth. “Cooperative enterprises are crucial in empowering communities as it support economic expansion by creating job opportunities and they can also enhance social development by promoting democratic participation,” said Koperasi Kredit Pekerja-Pekerja Malaysia Bhd Chairman, Thankarajoo Subramaniam. “Additionally, cooperatives are capable of initiating sustainable growth by encouraging local resource utilisation and promote environmental sustainability,” he added. Meanwhile, Dato’ Dr Muhamad Iqbal Mohamad, who is a Member of the IMT-GT Joint Business Council said that cooperatives in Malaysia have significant potential to foster inclusive growth and address socio-economic challenges by pooling resources, providing financial services, and investing in community development. According to him, cooperatives empower members through collective bargaining, shared profits, and democratic governance. “If supported by the government, cooperatives enhance financial inclusion and economic stability, particularly in rural areas. “Despite facing challenges like limited capital and competition, cooperatives can overcome these through enhanced support, technological integration, and strategic partnerships,” said Dato’ Iqbal, who is also the founder of Qew Group Bhd, a wholly-owned Bumiputera company, specialises in project management and corporate finance initiatives. In this regard, he explained how Qew Group Bhd can foster a sustainable business ecosystem for Malaysian cooperatives by providing financial support and investment, including microfinancing for smaller entities. By introducing new technologies and innovative practices, such as digital platforms for e-commerce and mobile banking, Qew Group Bhd can enhance operational efficiency and market reach. “Expanding market access through Qew Group Bhd’s network and partnerships, promoting sustainable practices, and investing in research and development will ensure long-term growth and competitiveness. “This can ultimately promote economic growth, community development, and sustainability for Malaysian cooperatives,” Dato’ Iqbal concluded.  

ESG, Investment & Market Trends, News

Atour Unveils Sustainability Records in 2023 With Milestone ESG Report

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SHANGHAI: Atour Lifestyle Holdings Ltd, a leading hospitality and lifestyle company in China, has released its inaugural Environmental, Social, and Governance (ESG) report for 2023, underscoring the company’s sustainability efforts over the past year and reflects the steady integration of ESG principles into its day-to-day operations. In essence, Atour is committed to reducing waste and making its operations more ecologically friendly. This is reflected in the company’s approach toward refurbishment and resource conservation. During the reporting period, Atour launched two new products, Atour Light 3.0 and Atour 4.0 ‘With Nature’, a midscale hotel offering and an upper midscale variation. They underwent refurbishment using modular designs, with modular elements accounting for over 90% and 80% of the overall designs, respectively. This initiative significantly reduces maintenance costs and non-essential construction waste. Sustainability practices extend beyond decoration. Atour hotels now are equipped with less carbon-intensive amenities, such as 100% biodegradable paper cups, as well as natural cotton beddings and natural bamboo paper products manufactured without bleach or fluorescents, easing the burden on the environment. Additionally, Atour promotes water conservation across some of its 1,210 hotels (as of the end of last year) using the dedicated-loop system for circulating hot water, resulting in a reduction of 12.67 tons of water consumption per room annually. Atour prioritizes customer experience, introducing innovations from Atour APLUS services to Late Night Congee to ensure customers feel at home during their stays. Customers can expect a carefree experience and peace of mind, thanks to Atour’s commitment to purified indoor air, fire safety, cleanliness, hygiene, and strict user privacy protection. Moreover, Atour has reinforced its support for franchisees through its ‘6 Commitments to Franchisees’ and ‘8 Supply Chain Procurement Commitments,’ empowering them with a responsible supply network, rights guarantees, as well as training on sustainability. Originating from Yaduo, a remote village in southwestern China, Atour has consistently given back to its place of inspiration by encouraging local villagers to grow tea, fueling economic development and rural revitalisation. As the report indicates, Atour purchased a cumulative 150 tons of processed tea leaves worth CN¥37 million from the villagers, benefiting some 1,400 households. As part of its charitable engagements, it also donated a batch of clothes with a value of around CN¥2 million to the needy and supported targeted poverty alleviation efforts. In urban areas, Atour contributes to societal well-being by offering resting places in its Shanghai headquarters for frontline workers such as couriers, delivery rider, and sanitation workers during their downtime. 10 years after its birth, Atour prides itself on creating a diverse, equitable, and inclusive workplace for its employees. Currently, over 58% of its 4,248 employees are female, and the company employs 17 people with physical disabilities and 162 members of ethnic minorities. On the corporate governance front, Atour has established an ESG working group tasked to report directly to its Executive Committee. The ultimate goal is to implement a coherent sustainability strategy throughout its corporate hierarchy, thereby embedding ESG concepts into Atour’s mission and core values. Recognising board diversity as a pillar for sustained growth, Atour aims to include factors like one’s gender, age, culture and professional background when nominating future board members. Currently, there are three independent directors and two female directors on the eight-member board. In aligning with its strategic vision to boast a network of 2,000 premier hotels by 2025 and deliver the optimum ‘Chinese experience’, Atour is set to invest more resources and energies in the realm of ESG. ‘Looking ahead, we aim to enhance our sustainable development initiatives and capacities consistently, turning our original aspirations of warmth and generosity into increased resilience through concrete measures,’ said Atour Founder and CEO Haijun Wang. “We remain committed to creating an intimate ambience where people can warmly connect and contribute to a greener ecology and a kinder, more compassionate society,” he added.

ESG, News

Hikvision Releases Its 6th ESG Report, Emphasising Commitment to ‘Tech for Good’

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HANGZHOU: Hikvision has published its ‘2023 Environmental, Social and Governance (ESG) Report’, disclosing its ESG practices and performance for the sixth consecutive year. The report offers a comprehensive look at Hikvision’s focus on sustainability and its ESG priorities and actions, reaffirming the company’s commitment to fulfilling corporate social responsibility with innovative and sustainable technologies. “Practicing the ethos of ‘Tech for Good’, adhering to pragmatism, and exploring ‘green’ transformation, Hikvision leverages our products to deliver the value of sustainable development,” said its Chief Compliance Officer and Senior Vice President, Huang Fanghong. “We firmly believe that together with the momentum of digital transformation and technological advancements, we will attain stable and sustainable growth,” he added. With the belief that technologies play a pivotal role in promoting overall well-being, Hikvision has formulated an ESG management framework with ‘Tech for Good’ as its core. Leveraging cutting-edge technologies, Hikvision endeavored to protect historical relics, prevent water and air pollution, as well as enhance efficiency and productivity in manufacturing. Moreover, the company has contributed to providing more educational resources for children in remote areas, ensuring abundant apple harvests, and safeguarding wildlife, fulfilling its part to further the aspiration to build a better world. Apart from giving back to the society with innovative technologies, Hikvision places great emphasis on integrity and compliance, low-carbon development, and harmonious relationships with employees, partners, and communities, integrating these principles into its ESG management framework. Some highlights during the reporting period include: The company released the Hikvision Global Human Rights Policy, embedding the respect for human rights in the company’s governance and operations. Hikvision formulated and introduced the Management Procedure for Greenhouse Gas Emissions, aiming to reduce greenhouse gas (GHG) emissions and promote low-carbon operations. Hikvision further integrated eco-friendly principles into the process of product R&D, design, packaging and utilisation. By acquiring carbon footprint verifications of representative products, the company evaluated the GHG emissions throughout those products’ life cycles for continuous improvement. While promoting energy savings, Hikvision also proactively advanced the procurement of green power. In 2023, around 12,533.7 MWh of power was generated by photovoltaic (PV) systems deployed in the company’s manufacturing bases. Hikvision continued to drive sustainable development through innovation, winning 1,884 invention patents in 2023. The R&D investment of the company reached C¥11.39 billion (RM7.42 billion), up 16.08% year-over-year. Adhering to responsible procurement, Hikvision continuously enhanced supplier management. 100% of the new suppliers of the company were screened using the environmental and social criteria. Hikvision provided its employees with a series of trainings to support their personal and professional development, with total training time reaching 1,534,482 hours. Hikvision employees engaged actively in volunteer activities, collectively dedicating over 20,000 service hours.

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