FGV Has Committed to Creating a Zero-emission Firm by 2050, According to the Group’s CEO

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FGV Holdings Bhd has launched a group-wide climate action strategy to combat climate change, as part of its ambition to become a net-zero emission firm by 2050.

The group said in a statement on Tuesday (Sept 28) that it is the first food and agriculture company in Malaysia to formally commit to limiting global warming to 1.5 degrees Celsius (1.5°C) by signing the United Nations-backed Science Based Target initiative’s (SBTi) Business Ambition for 1.5 Celsius (1.5°C) pledge.

“As part of its commitment to science-based targets, FGV must halve its greenhouse gas emissions by 2030 and achieve net zero emissions by 2050.

“FGV will also need to establish short- and intermediate-term targets to enable effective emissions tracking and consistent annual reductions,” the statement added.

Mohd Nazrul Izam Mansor, the organization’s Chief Executive Officer (CEO), stated that the group is commencing and embracing transition toward zero environmental impact.

He continued by stating that the integrated climate action strategy is critical to FGV’s success in meeting its emission reduction objective and effecting genuine change.

“FGV has established an integrated climate action plan that is based on six critical strategic factors: climate governance and risk management, carbon management, operational efficiency, waste management, water management, and climate awareness.

“FGV was created on the premise of eradicating poverty and promoting sustainable development. As the detrimental effects of global warming are projected to disproportionately affect low-income communities, it is FGV’s role as a responsible corporation and industry leader to lead the fight against climate change,” he said.

Additionally, the group developed a climate action unit as a specialised management function with the responsibility of strategizing and executing the company’s climate action programmes at the operational level.

This reorganisation reflects and underlines the group’s increased commitment to climate action, environmental protection, and a sustainable development agenda, the company stated.

“Achieving a temperature limit of 1.5°C requires joint action. To fulfil a company’s commitment to sustainability and net-zero economic growth, both its staff and consumers must share the same ideals.

“As a result, we call on the government and commercial sector to collaborate in order to achieve a net-zero economy.

“We also welcome future collaborations and engagements with the government and commercial sector to increase national awareness and commitment to climate action,” Nazrul added.

In keeping with this objective, FGV has launched a group-wide climate awareness and education campaign dubbed SMART4Climate.

SMART4Climate programmes will target both FGV employees and the general public, with the goal of increasing climate awareness and education on a national scale.

FGV’s shares closed two sen or 1.49 percent higher at RM1.36 on Wednesday, giving the company a market capitalization of RM4.96 billion.

Published by Zack Baharum

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