- Volatile steel prices
- Foreign exchange fluctuations
- Higher-for-longer interest rates
- Potential profitability challenges in the trading division due to steel price downtrend
- Potential impact of carbon tax on production costs.
Hiap Teck Venture Berhad
Greenhouse gas emissions & sustainability report data
In its 2024 reporting, Hiap Teck Venture Berhad disclosed greenhouse gas emissions of 10.7K tCO2e/year. By scope: Scope 1: 431 tCO2e/year; Scope 2: 10.3K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
10.7K tCO2e/year
2024
Water Usage
56.065 Megalitres/year
2024
Waste
218.33 tons/year
2024
Energy Use
15.2K MWh/year
2024
📊 Emissions by Scope (2024)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 431 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 10.3K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2024 | 10.7K tCO2e/year |
| 2022-08-01 to 2023-07-31 | 7.5K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Installed a rooftop solar photovoltaic (PV) system with a total capacity of 4,681 kWp, generating over 6 million kWh of electricity annually and projecting a 40-50% reduction in Scope 2 emissions.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce total waste generated by 10% in next year from FY2023 levels.
- Reduce LTIR below 2.5
📅 Medium-term
- Achieve 40% renewable energy for electricity consumption by 2030.
- Achieve 70% local sourcing for spare parts and consumable items by FY2025.
🔭 Long-term
- Align with Malaysia’s aspiration to achieve climate neutrality by 2050.
- Reduce water consumption intensity by 10% by 2030 from 2023 baseline.
🌱 ESG Focus Areas
Climate ChangeEnergy EfficiencyEmissions ReductionOccupational Health and SafetyEmployee Well-beingCommunity InvestmentCorporate GovernanceSupply Chain ManagementDiversity and Inclusion