- Inflation has reduced consumer willingness to spend, leading to a contraction in consumption, resulting in insufficient revenue growth and a slowdown in performance.
- The ongoing Russia-Ukraine war, the Israel-Palestine conflict, and the persistent US-China tensions have further intensified inflation, leading to reduced consumer spending.
- At the beginning of the year 2024, due to food safety issues, consumer confidence was affected, which in turn impacted overall performance.
- Fierce competition in the food industry.
VE WONG CORPORATION
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, VE WONG CORPORATION disclosed greenhouse gas emissions of 10.6K tCO2e/year (2023). By scope: Scope 1: 6.5K tCO2e/year (2023); Scope 2: 4.0K tCO2e/year (2023). 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
10.6K tCO2e/year (2023)
2023
Water Usage
295.075 million liters (2023)
2023
Waste
650.1 metric tons (2023)
2023
📊 Emissions by Scope (2023)
| 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). | 6.5K tCO2e/year (2023) |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 4.0K tCO2e/year (2023) |
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 |
|---|---|
| 2023 | 10.6K tCO2e/year (2023) |
| 2022 | 11.4K tCO2e/year (2021) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Total energy savings amounted to 1,968.699 GJ, equivalent to 118.566 metric tons of CO2e emissions (compared to 1,149.155 GJ of total energy savings and 52.758 metric tons of CO2e emissions in 2022).
- In 2023, the proportion of recycled paper material used in purchased packaging materials was 93.00% (compared to 93.31% in 2022). Recyclable packaging materials accounted for 97.57% of the total packaging material used (compared to approximately 96.84% in 2022).
🎯 Climate & Sustainability Targets
🔜 Short-term
- Flexible Production and Supply Chain Optimization
- Enhanced Product Innovation and Quality Control
- Development of High-Value-Added Products
- Deepening Presence in Modern Retail Channels
- Active Management of Social Media Platforms
📅 Medium-term
- Develop strategies to enhance supply chain stability
- Plan for alternative raw materials and their development
- Regularly monitor the status of suppliers' sources
🔭 Long-term
- Invest in Brand Promotion and Marketing Activities
- Increase Collaboration with Distributors
- Expand Foreign Trade
- Continuous Market Research
- Technological Innovation and Automation Upgrades
🌱 ESG Focus Areas
Environmental ProtectionFood SafetyEmployee WelfareCorporate Social Responsibility