- Numerous issues relating to the joint venture subsidiary, Asian Eco Technology Pte. Ltd. (“AET”) which the Group’s former joint venture partner, X Diamond Capital Pte. Ltd. (“XDC”) and XDC’s appointed directors in AET had failed to address.
- Significant decrease in revenue was mainly attributed to the numerous issues relating to the joint venture subsidiary, Asian Eco Technology Pte. Ltd. (“AET”) which the Group’s former joint venture partner, X Diamond Capital Pte. Ltd. (“XDC”) and XDC’s appointed directors in AET had failed to address, which led to subsequent legal actions taken against XDC that had adversely impacted the operations of the core business.
- Absence of revenue as well as the increased operating costs of the lab-grown diamond factory, and the write down of plant and machinery, provision for inventory loss and professional fees arising from issues with XDC.
METECH INTERNATIONAL LIMITED
Greenhouse gas emissions & sustainability report data
In its 2022-07 to 2023-12 reporting, METECH INTERNATIONAL LIMITED disclosed greenhouse gas emissions of 69.92 tCO2e. By scope: Scope 2: 69.92 tCO2e. 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
69.92 tCO2e
2022-07 to 2023-12
Energy Use
239.55 MWh/year
2022-07 to 2023-12
📊 Emissions by Scope (2022-07 to 2023-12)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 69.92 tCO2e |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
✅ Reported Environmental Achievements
- Encouraging employees to switch off lights, computers, and electrical appliances when not in use; Conducting regular maintenance of equipment to optimise energy efficiency; Perform process optimisation to improve energy efficiency in our production; and Integrating energy-efficient fixtures and fittings, such as LED lights and smart lighting solutions.
- Promoting energy efficiency and conservation within its office premises. This commitment is exemplified through the use of energy-efficient LED lightbulbs
🎯 Climate & Sustainability Targets
🔜 Short-term
- Maintain or reduce GHG emission (Scope 2) levels and emission intensities
- Promote employee awareness towards emission reduction initiatives
- Regularly monitor and report on progress
- Monitor energy usage in our office premises and across our value chain
- Promote more energy saving habits and initiatives
📅 Medium-term
- Align the medium-term target with broader sustainability goals and international frameworks, such as the Paris Agreement
- Create a comprehensive strategy encompassing various initiatives, and partnerships to achieve the medium-term target
- Include disclosure of quantitative metrics and targets
- Reduce energy consumption to achieve overall net zero GHG emissions target
- Include disclosures of the quantitative impact of identified climate-related risks
🔭 Long-term
- Set a long-term emissions reduction target that aligns with global climate objectives, aiming for carbon neutrality or net-zero emissions by 2050
- Achieve net zero GHG emissions
- Attain long-term financial stability and profitability by integrating sustainability into core business strategies
🌱 ESG Focus Areas
EmissionsImpact on Environment and Natural ResourcesClimate ChangeHealth and SafetyEmployment Practices and ComplianceStaff Training and DevelopmentBusiness Conduct and EthicsEconomic Performance