Supporting national agenda The Twelfth (12th) Malaysia Plan continues to emphasise the importance of sustainability, underpinning its prominent position in the national agenda. Malaysia signified its intention, through its Nationally Determined Contribution (NDC) under the Paris Agreement to reduce its greenhouse gas (GHG) emissions intensity of GDP by 45% by 2030 relative to the emissions intensity of GDP in 2005. In support of Malaysia achieving its NDC and to play our part alongside the global community in shouldering our shared responsibility to reduce global warming, FGV, in September 2021, became the first agriculture and food company in Malaysia to sign on to the United Nations-backed Science Based Target initiative (SBTi) Business Ambition for 1.5 Celsius (1.5°C) pledge, which calls for limiting global warming to 1.5°C. This commitment requires FGV to halve its greenhouse gas emissions by 2030 and hit net-zero emissions by no later than 2050. Execution will be key to meeting the commitment, and to this end, FGV has developed an integrated climate action plan based on six key strategic factors which include climate governance and risk management, carbon management, operational efficiency, waste management, water management, and climate awareness. Short- and mid-term targets will be developed and performance monitored regularly to ensure effective emissions tracking and consistent annual reduction. We anticipate challenges as FGV strive to fulfil this pledge. The most significant challenge will be balancing revenue growth pressures while managing GHG emissions as the manufacture of revenue-generating products invariably entail GHG emissions. Nevertheless, FGV will remain steadfast and spare no efforts to help address the existential threat of global warming. Malaysia imports some RM60 billion worth of food annually and the Government has called for local corporations to contribute to reducing the food import bill. FGV, a major food producer and one of the largest plantation companies in Malaysia, needs to also play our part to help. Indeed, we do have the capacity, resources and expertise to do so and, significantly, make a return in the process, witness our Integrated Farming initiative which is positioned to capitalise on the tremendous opportunity for substituting imported food with those that are locally produced and manufactured. This will directly contribute to reducing our nation’s food imports and, more broadly, further fortify our food security situation. Malaysia imports some RM60 billion worth of food annually and the Government has called for local corporations to contribute to reducing the food import bill. FGV, a major food producer and one of the largest plantation companies in Malaysia, needs to also play our part to help. FGV’s Chairman Address 2021 Making Dynamic and Responsible Strides 8 FGV HOLDINGS BERHAD RESPONSIBLE BUSINESS ABOUT THIS REPORT RESPECTING HUMAN RIGHTS
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