IOI Corporation Berhad (IOI) has once again won a Gold award in the plantation sector under the PLC category at the third The Edge Malaysia ESG Awards 2024, held at the Mandarin Oriental Hotel in Kuala Lumpur on 14 October 2024. This accolade marks our third consecutive win, reaffirming our steadfast commitment to economic/environmental, social and governance (EESG) practices.
We extend our heartfelt gratitude to The Edge Malaysia for recognising our ongoing efforts in championing responsible business practices that benefit the economy, environment, our communities and future generations. For almost two decades, we have embedded sustainability into our operations, establishing a robust foundation that not only meets the current EESG expectations but also positions IOI as a leader in circularity and sustainable growth.
IOI Group Managing Director and Chief Executive Dato’ Lee Yeow Chor attributed the success to the systematic implementation of our decarbonisation and circularity strategies across the Group. These initiatives include methane capture, rehabilitation, reforestation and various recycling programmes. He said: “This year, we are proud to have achieved the short-term target of our Climate Change Action initiative, reducing Scope 1 and 2 greenhouse gas (GHG) emissions by 40% compared with the 2015 baseline – one year ahead of our target year of 2025.” As of June 2024, IOI has successfully reduced GHG emission by 42% across both our plantation and resource-based manufacturing divisions.
The Edge Malaysia, in collaboration with Bursa Malaysia and FTSE Russell, organised this year’s awards, which saw nearly all Main Market-listed pubic listed companies (PLCs) qualify in the running. IOI is among 779 PLCs with a FTSE4Good ESG score, which has impressively increased from an average of 2.5 in 2014 to 3.6 in June 2024. The PLC category (formerly known as equities category) has evolved to reflect the growing adoption and inclusivity of ESG practices in Malaysia, evaluating how effectively companies mitigate ESG risks across 14 themes and over 300 indicators within the FTSE4Good’s ESG ratings model.