Posted on 01 Feb 2023
Malaysia Steel Works (KL) Bhd (Masteel) has become the first ultra-low carbon emission integrated steel mill listed on the FTSE4Good Bursa Malaysia Index (FTSE4Good), having invested over RM60 million in various carbon dioxide (CO2) emission reduction initiatives in its operations.
Managing director and CEO Tai Hean Leng said Masteel’s pioneering achievement on the FTSE4Good index was borne out of the dedication, foresight and success in revolutionising the steel-making industry at its core manufacturing process.
He said the integrated steel manufacturer earned three stars out of four in the environmental, social and governance (ESG) ratings among public-listed companies (PLCs) in the FBM EMAS index, placing it within the top 26-50% of PLCs assessed by FTSE Russell.
The FTSE4Good index highlights companies that demonstrate a commitment to addressing ESG risks.
“We have invested approximately RM60.66 million across various CO2 reduction initiatives towards our goal of reducing total CO2 emission by approximately 7,300 tonnes,” he said in a statement today.
He also said the group aims to reduce emission by a further 10% by 2026 and 15% by 2031.
“At the same time, we will also expand our emission monitoring systems from Scopes 1 and 2 currently to include Scope 3, to implement incremental step-ups in a systematic and sustainable manner,” he said.
He noted that Masteel has been focusing on minimising other air pollutants in addition to CO2 emission mitigation measures, including the installation of a continuous emission monitoring system at the Bukit Raja, Klang plant in 2021.
Source:Bernama
