FOR SUSTAINABILITY CLEAR AND BOLD TARGETS IMPERATIVE MUST STRENGTHENS
INCORPORATING Sustainability into the business strategy can build business resilience, create inclusive value for stakeholders and contribute to solving global sustainability challenges.
For Telekom Malaysia Bhd (TM), it enables the mega telecommunications infrastructure player to meet its nation-building agenda, in addition to being a responsible corporate organisation.
TM Chief risk officer Mohamad Mohamad Zain shared the telco provider's pride in embedding environmental, social and governance (ESG) principles into its purpose, strategic decisions and ecosystem for effective implementation.
" In doing so, we are better equipped to mitigate and respond to ESG risks and opportunities, such as the effects arising from pandemics or climate change that may impact our future performance - ultimately safeguarding the business," he shared.
The focus is on value creation or enhancement, in line with clear and bold commitments and targets to tract its near to long-term sustainability performance, including:
1) Protecting and Preserving The Planet via Greenhouse Gas Emission (GHG) Reduction.
Offsetting energy consumption requires long-term efforts. TM seeks to progressively cut down its GHG emissions by 30% in 2024, 45% by 2030 and achieve net-zero emission by 2050. It will fully adopt the Task Force on Climate-Related Financial Disclosures framework by 2023.
" We want to ensure that we focus on improving our internal process before we further move into improving our Scope 3 emissions."
TM is also actioning a slew of concurrent initiatives to complement its efforts to support preservation of the environment. Today, its utility vehicles operate with lighter loads to reduce fuel consumption and further exploring to introduce a fleet of heavy-duty utility electric vehicles (EVs), which is subject to the availability of charging stations to support the EVs in the future.
2). Enriching Social Prosperity and Livelihood Through Digital Inclusion.
TM is set to provide access to high-speed internet to at least 70% of premises nationwide. It promotes gender diversity in decision-making roles by having a minimum of 30% women on its board of directors and in management role. Further, it will ensure that 100% of its mega suppliers complies with ESG principles by 2024 and a target of 50% mid-tier supplier compliance by 2030.
" For the social aspect, we continue to enhance our social obligations towards our customers, suppliers and employees, while at the same time continuing to embrace the importance of equality across the group," he shared.
3). Ensuring Responsible Conduct With The Highest Standards Of Ethics, Integrity, and Transparency.
Under governance, TM will continue working with the Malaysian Anti-Corruption Commission to uphold its zero-tolerance of corruption and maintain the highest standards of corporate governance through improving various policies and guidelines.
TM in 2021 embarked on a three-year transformation journey in line with the New TM Compass, involving the four elements of its purpose, business, customers and people.
To further enhance its implementation strategy, TM set up the Sustainability Action Working Group, a collaborative platform to drive concerns during sustainability-related discussions and execution holistically across TM Group.
There is also TM's enterprise risk management and business continuity management frameworks, in addition to the 2022 introduction of ESG key performance indicators across the board and senior management levels, as well as its participation in the Corporate Sustainability Assessment of the Dow Jones Sustainability Index.
When it comes to the ESG Positive Impact Awards 2022, TM believes that it will help attract more local and international investors, as well as reflex the group's alignment with other global standards in putting its efforts towards creating a better place for future generations.
Similarly, Mohamad pointed out that telecommunications and technology can play a role in addressing emerging challenges, as well as drive improvements ranging from healthcare access to pollution monitoring and smart agriculture to financial inclusion, among others.
As part of the vital foundation blocks that anchor the digital economy, telecommunications and technology can promote economic and social inclusivity - to say nothing of its other commercial, social and economic contributions via digital participation and proactive, data-driven decision-making, as the world moves towards a more sustainable future.
" Regardless of what lies ahead, we are confident in the group's ability to endure and carry on.
" As the past 75 years have demonstrated, Warga TM are resilient to any challenges that may come our way.
" We will continue to play a substantial part in leaving a lasting legacy behind for future generations, staying true to our commitment in transforming the lives of all Malaysians," he said.
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