MISC issues sustainability report for 2016

MISC Berhad (MISC) announced its five-year Sustainability Strategy through the release of its 2016 Sustainability Report, highlighting, among others, its Social and Environmental (ESG) performance.

The 2016 Sustainability Report is the Group’s third stand-alone report that covers the Group’s sustainability performance, initiatives and achievements that complements the disclosures in the MISC’s 2016 Annual Report.

• Climate action

Apart from the mandatory requirements by the IMO, the Group has implemented independent initiatives to reduce GHG emissions and improve energy efficiency of the fleet. Additionally, with carbon and key emissions reduction being one of the focus areas of Environment Strategy, MISC will be embarking on a more structured and strategic approach in the management of these aspects, through the setting of Group targets and reduction plans.

• Clean Air Regulations

The Group has taken necessary actions to ensure that all our operations are in compliance with the new Malaysian Environmental Quality (Clean Air)

Regulations which was gazetted in 2014 and the new emission standards which will come into force in 2019. A thorough assessment has since been carried out to identify areas for improvement and the establishment of action plans to address the gaps identified.

• Energy efficiency

The Group’s energy consumption recorded a slight increment of less than 1% in 2016. The increment is contributed by an overall increase in transport work by the LNG and Product fleet, as well as the inclusion of additional activities which consume energy as part of the  continued improvement to ensure the completeness of our monitoring and reporting.

Commenting on the Sustainability Strategy, Mr. Yee Yang Chien, MISC’s President/Group CEO, said: “We are proud that we have achieved another significant milestone in our sustainability journey with the launch of the MISC Sustainability Strategy which runs parallel with our Vision and Mission as well as our five-year Corporate Strategy, MISC2020. With a focus on enhancing MISC’s social integrity, improving our environmental stewardship and creating economic value for our stakeholders, the MISC Sustainability Strategy serves as a manifesto of our sustainability commitments in conducting business as a responsible corporate citizen in the next five years.”

Further information may be found int he following report: