Malakoff Corporation Bhd, which seeks to reposition itself as an ESG-centric organisation focusing on clean energy and environmental solutions, has mapped out plans to aid the country in transitioning to a low-carbon economy.
In terms of its business activities, the group aims to reduce its greenhouse gas (GHG) emissions intensity by 30% by 2031, aspiring to be a net zero carbon emissions organisation by 2050, and is targeting to achieve a 15% to 20% recycling rate from waste collected by its subsidiary Alam Flora Sdn Bhd.
It also aims to increase revenue contribution from renewable energy (RE) and environmental solutions to 50% in the next decade, raising its RE capacity to 1,400MW by 2031.
The company has been making headway in driving the transition to a cleaner and greener future. It recently signed a memorandum of understanding (MoU) with ports under the MMC group of companies, namely Northport (Malaysia) Bhd, Johor Port Bhd, Tanjung Pelepas Sdn Bhd and Penang Port Sdn Bhd, to collaborate on various green power initiatives. These initiatives include the Corporate Green Power Programme (CGPP), self-consumption (SELCO), shore-to-ship power (SSP) and installation of electric vehicle charging stations.
In March this year, Malakoff signed heads of agreement with Rising Promenade Sdn Bhd, RP Hydro (Kelantan) Sdn Bhd and Rising O&M Engineering Services Sdn Bhd to own, operate and maintain three small hydropower plants in Kuala Krai, Kelantan, with a total installed capacity of 84MW.
Malakoff is supporting Malaysia’s energy transition by decarbonising its 2,100MW Tanjung Bin Power Plant, which will be burning biomass along with coal as one of the selected catalyst projects under the National Energy Transition Roadmap (NETR). The power plant recently completed a 12-day trial burn, making Malakoff a key player in the government’s NETR, which aims to cut 45% of carbon intensity by 2030 and increase RE capacity mix to 70% by 2050.
Plans are underway for a pilot phase in 2024, leading to a full-scale commercial operation by 2027, aimed at reducing carbon dioxide emissions and ensuring an equitable shift to a greener economy.
On the environmental solutions front, the Recovery Initiative Sustainable Eco-Facility (RISE) is another circular economy initiative supporting clean energy transition. RISE Kuala Lumpur leads the way in recovery and recycling of municipal solid waste to implement a circular economy model and commit to sustainability. The facility is designed based on a semi-automated process to accept recyclable materials separated at source from municipal solid waste generated from single-stream or dual-stream sources.
Meanwhile, the Fasiliti Inovasi Kitar Semula (FIKS) by Alam Flora is a one-stop centre for the public to learn about the recycling process and waste management. It is built from reused materials such as steel containers, plastic tubes, construction materials and wooden pallets to create an environment that supports the 5R concept of refuse, reuse, reduce, recycle and recover.
On the social front, Malakoff is advancing workforce equalisation, analysing existing compensation structures to identify and rectify gaps to meet the company’s inclusion and equality policies, and focusing its talent management efforts on retaining and rewarding employees without discrimination and bias.
When it comes to governance, Malakoff was accorded the ISO 37001:2016 Anti-Bribery Management Systems (ABMS) certification by SIRIM QAS for its commitment to upholding the highest standards of ethical conduct, integrity and accountability in all of its business activities and operations.
The certification marks the group’s compliance with the new Section 17A of the Malaysian Anti-Corruption Commission (MACC) Amendment Act 2018, which came into force in June 2020. Malakoff’s anti-bribery policy was developed and approved by its board in October 2019.
Malakoff is a testament to what can be achieved when an organisation fully commits and deeply integrates ESG principles into its operations. Through its innovative projects and ethical governance, the company is reducing its carbon footprint while fostering a culture of inclusivity and integrity.