Latest news with #SustainabilityReport2024
Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
ZTE Releases Sustainability Report 2024: Empowering a Sustainable Future through Digital Intelligence
SHENZHEN, China, June 8, 2025 /PRNewswire/ — ZTE Corporation ( / a global leading provider of integrated information and communication technology solutions, has recently released its Sustainability Report 2024, marking the 17th consecutive year the company has proactively disclosed its sustainable commitments and progress to the public. The ZTE Corporation Sustainability Report 2024 highlights ZTE's strong ESG strategies and achievements, showcasing how the company is leveraging digital innovation to drive sustainable transformation across the globe. Amid the accelerating wave of global digitalization, ZTE remains committed to its role as a 'Driver of the Digital Economy', advancing its sustainability agenda on two fronts: by making significant strides in green operations guided by science-based carbon targets, and by enabling digital and low-carbon transformation across industries through cutting-edge technologies. Xu Ziyang, Executive Director and CEO of ZTE, states in the report, 'The new wave of AI-driven technological revolution, particularly the boom of large models and generative AI, has propelled the global digital and intelligent transformation. In this critical year filled with both challenges and opportunities, ZTE, as a 'Driver of Digital Economy', stayed true to its original aspiration and responded to the call of the times.' The report reveals that ZTE continues to strengthen the underlying capabilities and scaling up R&D investment to build stronger core competence, with the R&D expenses accounting for 19.81% of operating revenue. As of December 31, 2024, ZTE had filed 93,000 global patent applications, with over 48,000 patents granted. Specifically, in the field of chips, ZTE had filed about 5,500 patent applications, with over 2,000 granted. In the field of AI, the company had filed more than 5,000 patent applications, with nearly half of them already granted, demonstrating strong innovation and technological capabilities. Advancing Green Strategies to Tackle Climate Challenges ZTE centers its core drive on technological innovation, continuously deepening its green development strategy to address climate change challenges and promote the coordinated advancement of digital intelligence and sustainability across industries. In 2024, ZTE received official approval from the Science-Based Targets initiative (SBTi) for its near-term 1.5°C target and long-term net-zero targets. In the same year, ZTE published the ZTE Net-Zero Strategy White Paper. The company continues to advance its 'Green Digital Path' initiative across four dimensions: green corporate operations, green supply chain, green digital infrastructure, and green empowerment. ZTE has been named to the prestigious CDP A list for leading climate action for two consecutive years, reinforcing its global climate leadership. In terms of green corporate operations, ZTE has achieved the remarkable feat of increasing revenue while reducing energy consumption, thanks to years of continuous effort. In 2024, the company improved its energy efficiency by 20% compared with 2021, and recorded a 13.4% reduction in Scope 1&2 emissions compared to the previous year. Its telecom products saw an 8.39% reduction in physical emissions intensity during the use and maintenance phase, while its terminal products achieved a 5.02% year-on-year reduction in absolute emissions over the entire product lifecycle. ZTE reduced its Scope 1&2&3 carbon emissions by 14.317 million tons in 2024 compared to 2023 levels. For green supply chain, in 2024, ZTE has integrated dual-carbon strategy requirements into supplier management IT systems, including agreement signing, on-site audits, and performance assessments. In this year, ZTE conducted onsite CSR audits for 261 production suppliers (representing 86.9% of the top 90% suppliers by procurement amount). Regarding green digital infrastructure, ZTE boasts over 800 green innovation patents. As of 2024, the company has conducted carbon footprint assessments for 154 products, covering all its product categories. Through its end-to-end green solutions, ZTE continues to help global operators save over 10 billion kWh of electricity annually. In green empowerment of industries, ZTE has actively integrated cloud and network infrastructure, IoT, big data, AI and other cutting-edge technologies with traditional industries to achieve a win-win outcome of development and emission reduction. The company has partnered with over 2,000 leading industry players to carry out 5G-powered innovative green practices across 18 sectors—including steel, metallurgy, electronics manufacturing, ports, rail transit, mining, and power—pioneering more than 100 innovative application scenarios. Upholding a People-Centered Approach to Foster an Inclusive Society ZTE has pursued sustainable development by advancing both technological leadership and CSR fulfillment. By leveraging its technological advantages, it provides tailored digital solutions to global customers, helping to bridge the digital divide and accelerate digital transformation worldwide. For example, ZTE and Orange have jointly launched the 'Enhance Rural Area' project, delivering communications infrastructure to rural regions in Liberia and enabling digital access for more than 580,000 people in remote areas. In Anyang, Henan, the company supported the development of a drone-based blood delivery system, effectively addressing the 'last mile' challenge in urban medical logistics. In Hainan, ZTE ensured uninterrupted emergency communications with satellite terminals during Typhoon Yagi. ZTE upholds a people-oriented philosophy. In 2024, ZTE achieved 100% employee training coverage and its ISO 45001 Occupational Health and Safety Management Systems certification now covers offices in 30 countries. In 2024, ZTE carried out 310 regular public welfare activities across various fields, including rural revitalization, education support, and medical and disaster relief. With the joint efforts of 15,000 employee volunteers, the company has provided assistance to over one million people in need, continuously delivering warmth and creating social value. Strengthening Governance to Enhance Corporate Resilience Xie Junshi, EVP and COO of ZTE, states in the report, 'Committed to innovation-driven and sustainable development, ZTE has embedded ESG into every aspect of its operations. By harnessing digital and intelligent technologies, we are developing a development model that coexists harmoniously with nature and society, while exploring a path for business continuity in the new era.' Integrating sustainable development with its corporate strategies, ZTE aspires to strengthen its core competitiveness with a focus on its vision and three strategic cornerstones—internal control, compliance, and talent. In 2024, ZTE upgraded the corporate governance system and established the Strategy and Sustainability Committee to better incorporate the philosophy of sustainable development into its strategies and business activities. In terms of corporate risk prevention and control, ZTE places particular emphasis on identifying and responding to emerging risks. As AI technology rapidly transforms the world, it brings immense business opportunities while also raising widespread concerns over ethical risks such as privacy infringement and algorithmic bias. To proactively address these challenges, ZTE established the Science and Technology Ethics Committee in 2024, demonstrating high-level organizational commitment to ethical governance. In addition, the company has put in place a technology ethics governance framework to review and assess AI-related R&D projects individually, ensuring the safe, reliable, and inclusive development of AI. As a member of the UN Global Compact and the Global Enabling Sustainability Initiative and a key participant and a pioneer in the Partner2Connect (P2C) Digital Coalition initiated by the International Telecommunication Union, ZTE has received widespread recognition from numerous global authoritative organizations and rating agencies for its exemplary sustainability practices. In 2024, ZTE was recognized with EcoVadis Gold Medal for sustainability excellence. In addition, the company was selected for the S&P Global's Sustainability Yearbook 2024 (China Edition) and honored with the title of 'Industry Mover'. It was also listed among the 2024 Forbes China ESG 50 list and received the World Internet Conference Distinguished Contribution Award. Furthermore, ZTE won two BDO ESG awards, as well as the LinkedIn MostIn Awards – Global Talent Magnet Employer, among others. Moving forward, ZTE will continue to promote sustainable development globally, leveraging technological innovation and international collaboration to inject digital vitality into efforts toward the United Nations Sustainable Development Goals, working toward a greener, more inclusive, and resilient future. For more details of ZTE Sustainability Report 2024, please download: To discover more updates about our commitment to the sustainability, please visit ZTE Sustainability website: MEDIA INQUIRIES:ZTE CorporationCommunicationsEmail:
Korea Herald
a day ago
- Business
- Korea Herald
ZTE Releases Sustainability Report 2024: Empowering a Sustainable Future through Digital Intelligence
SHENZHEN, China, June 9, 2025 /PRNewswire/ -- ZTE Corporation ( / a global leading provider of integrated information and communication technology solutions, has recently released its Sustainability Report 2024, marking the 17th consecutive year the company has proactively disclosed its sustainable commitments and progress to the public. The ZTE Corporation Sustainability Report 2024 highlights ZTE's strong ESG strategies and achievements, showcasing how the company is leveraging digital innovation to drive sustainable transformation across the globe. Amid the accelerating wave of global digitalization, ZTE remains committed to its role as a "Driver of the Digital Economy", advancing its sustainability agenda on two fronts: by making significant strides in green operations guided by science-based carbon targets, and by enabling digital and low-carbon transformation across industries through cutting-edge technologies. Xu Ziyang, Executive Director and CEO of ZTE, states in the report, "The new wave of AI-driven technological revolution, particularly the boom of large models and generative AI, has propelled the global digital and intelligent transformation. In this critical year filled with both challenges and opportunities, ZTE, as a 'Driver of Digital Economy', stayed true to its original aspiration and responded to the call of the times." The report reveals that ZTE continues to strengthen the underlying capabilities and scaling up R&D investment to build stronger core competence, with the R&D expenses accounting for 19.81% of operating revenue. As of December 31, 2024, ZTE had filed 93,000 global patent applications, with over 48,000 patents granted. Specifically, in the field of chips, ZTE had filed about 5,500 patent applications, with over 2,000 granted. In the field of AI, the company had filed more than 5,000 patent applications, with nearly half of them already granted, demonstrating strong innovation and technological capabilities. Advancing Green Strategies to Tackle Climate Challenges ZTE centers its core drive on technological innovation, continuously deepening its green development strategy to address climate change challenges and promote the coordinated advancement of digital intelligence and sustainability across industries. In 2024, ZTE received official approval from the Science-Based Targets initiative (SBTi) for its near-term 1.5°C target and long-term net-zero targets. In the same year, ZTE published the ZTE Net-Zero Strategy White Paper. The company continues to advance its "Green Digital Path" initiative across four dimensions: green corporate operations, green supply chain, green digital infrastructure, and green empowerment. ZTE has been named to the prestigious CDP A list for leading climate action for two consecutive years, reinforcing its global climate leadership. In terms of green corporate operations, ZTE has achieved the remarkable feat of increasing revenue while reducing energy consumption, thanks to years of continuous effort. In 2024, the company improved its energy efficiency by 20% compared with 2021, and recorded a 13.4% reduction in Scope 1&2 emissions compared to the previous year. Its telecom products saw an 8.39% reduction in physical emissions intensity during the use and maintenance phase, while its terminal products achieved a 5.02% year-on-year reduction in absolute emissions over the entire product lifecycle. ZTE reduced its Scope 1&2&3 carbon emissions by 14.317 million tons in 2024 compared to 2023 levels. For green supply chain, in 2024, ZTE has integrated dual-carbon strategy requirements into supplier management IT systems, including agreement signing, on-site audits, and performance assessments. In this year, ZTE conducted onsite CSR audits for 261 production suppliers (representing 86.9% of the top 90% suppliers by procurement amount). Regarding green digital infrastructure, ZTE boasts over 800 green innovation patents. As of 2024, the company has conducted carbon footprint assessments for 154 products, covering all its product categories. Through its end-to-end green solutions, ZTE continues to help global operators save over 10 billion kWh of electricity annually. In green empowerment of industries, ZTE has actively integrated cloud and network infrastructure, IoT, big data, AI and other cutting-edge technologies with traditional industries to achieve a win-win outcome of development and emission reduction. The company has partnered with over 2,000 leading industry players to carry out 5G-powered innovative green practices across 18 sectors—including steel, metallurgy, electronics manufacturing, ports, rail transit, mining, and power—pioneering more than 100 innovative application scenarios. Upholding a People-Centered Approach to Foster an Inclusive Society ZTE has pursued sustainable development by advancing both technological leadership and CSR fulfillment. By leveraging its technological advantages, it provides tailored digital solutions to global customers, helping to bridge the digital divide and accelerate digital transformation worldwide. For example, ZTE and Orange have jointly launched the "Enhance Rural Area" project, delivering communications infrastructure to rural regions in Liberia and enabling digital access for more than 580,000 people in remote areas. In Anyang, Henan, the company supported the development of a drone-based blood delivery system, effectively addressing the "last mile" challenge in urban medical logistics. In Hainan, ZTE ensured uninterrupted emergency communications with satellite terminals during Typhoon Yagi. ZTE upholds a people-oriented philosophy. In 2024, ZTE achieved 100% employee training coverage and its ISO 45001 Occupational Health and Safety Management Systems certification now covers offices in 30 countries. In 2024, ZTE carried out 310 regular public welfare activities across various fields, including rural revitalization, education support, and medical and disaster relief. With the joint efforts of 15,000 employee volunteers, the company has provided assistance to over one million people in need, continuously delivering warmth and creating social value. Strengthening Governance to Enhance Corporate Resilience Xie Junshi, EVP and COO of ZTE, states in the report, "Committed to innovation-driven and sustainable development, ZTE has embedded ESG into every aspect of its operations. By harnessing digital and intelligent technologies, we are developing a development model that coexists harmoniously with nature and society, while exploring a path for business continuity in the new era." Integrating sustainable development with its corporate strategies, ZTE aspires to strengthen its core competitiveness with a focus on its vision and three strategic cornerstones—internal control, compliance, and talent. In 2024, ZTE upgraded the corporate governance system and established the Strategy and Sustainability Committee to better incorporate the philosophy of sustainable development into its strategies and business activities. In terms of corporate risk prevention and control, ZTE places particular emphasis on identifying and responding to emerging risks. As AI technology rapidly transforms the world, it brings immense business opportunities while also raising widespread concerns over ethical risks such as privacy infringement and algorithmic bias. To proactively address these challenges, ZTE established the Science and Technology Ethics Committee in 2024, demonstrating high-level organizational commitment to ethical governance. In addition, the company has put in place a technology ethics governance framework to review and assess AI-related R&D projects individually, ensuring the safe, reliable, and inclusive development of AI. As a member of the UN Global Compact and the Global Enabling Sustainability Initiative and a key participant and a pioneer in the Partner2Connect (P2C) Digital Coalition initiated by the International Telecommunication Union, ZTE has received widespread recognition from numerous global authoritative organizations and rating agencies for its exemplary sustainability practices. In 2024, ZTE was recognized with EcoVadis Gold Medal for sustainability excellence. In addition, the company was selected for the S&P Global's Sustainability Yearbook 2024 (China Edition) and honored with the title of "Industry Mover". It was also listed among the 2024 Forbes China ESG 50 list and received the World Internet Conference Distinguished Contribution Award. Furthermore, ZTE won two BDO ESG awards, as well as the LinkedIn MostIn Awards – Global Talent Magnet Employer, among others. Moving forward, ZTE will continue to promote sustainable development globally, leveraging technological innovation and international collaboration to inject digital vitality into efforts toward the United Nations Sustainable Development Goals, working toward a greener, more inclusive, and resilient future.
Cision Canada
a day ago
- Business
- Cision Canada
ZTE Releases Sustainability Report 2024: Empowering a Sustainable Future through Digital Intelligence
SHENZHEN, China, June 8, 2025 /CNW/ -- ZTE Corporation ( / a global leading provider of integrated information and communication technology solutions, has recently released its Sustainability Report 2024, marking the 17th consecutive year the company has proactively disclosed its sustainable commitments and progress to the public. The ZTE Corporation Sustainability Report 2024 highlights ZTE's strong ESG strategies and achievements, showcasing how the company is leveraging digital innovation to drive sustainable transformation across the globe. Amid the accelerating wave of global digitalization, ZTE remains committed to its role as a "Driver of the Digital Economy", advancing its sustainability agenda on two fronts: by making significant strides in green operations guided by science-based carbon targets, and by enabling digital and low-carbon transformation across industries through cutting-edge technologies. Xu Ziyang, Executive Director and CEO of ZTE, states in the report, "The new wave of AI-driven technological revolution, particularly the boom of large models and generative AI, has propelled the global digital and intelligent transformation. In this critical year filled with both challenges and opportunities, ZTE, as a 'Driver of Digital Economy', stayed true to its original aspiration and responded to the call of the times." The report reveals that ZTE continues to strengthen the underlying capabilities and scaling up R&D investment to build stronger core competence, with the R&D expenses accounting for 19.81% of operating revenue. As of December 31, 2024, ZTE had filed 93,000 global patent applications, with over 48,000 patents granted. Specifically, in the field of chips, ZTE had filed about 5,500 patent applications, with over 2,000 granted. In the field of AI, the company had filed more than 5,000 patent applications, with nearly half of them already granted, demonstrating strong innovation and technological capabilities. Advancing Green Strategies to Tackle Climate Challenges ZTE centers its core drive on technological innovation, continuously deepening its green development strategy to address climate change challenges and promote the coordinated advancement of digital intelligence and sustainability across industries. In 2024, ZTE received official approval from the Science-Based Targets initiative (SBTi) for its near-term 1.5°C target and long-term net-zero targets. In the same year, ZTE published the ZTE Net-Zero Strategy White Paper. The company continues to advance its "Green Digital Path" initiative across four dimensions: green corporate operations, green supply chain, green digital infrastructure, and green empowerment. ZTE has been named to the prestigious CDP A list for leading climate action for two consecutive years, reinforcing its global climate leadership. In terms of green corporate operations, ZTE has achieved the remarkable feat of increasing revenue while reducing energy consumption, thanks to years of continuous effort. In 2024, the company improved its energy efficiency by 20% compared with 2021, and recorded a 13.4% reduction in Scope 1&2 emissions compared to the previous year. Its telecom products saw an 8.39% reduction in physical emissions intensity during the use and maintenance phase, while its terminal products achieved a 5.02% year-on-year reduction in absolute emissions over the entire product lifecycle. ZTE reduced its Scope 1&2&3 carbon emissions by 14.317 million tons in 2024 compared to 2023 levels. For green supply chain, in 2024, ZTE has integrated dual-carbon strategy requirements into supplier management IT systems, including agreement signing, on-site audits, and performance assessments. In this year, ZTE conducted onsite CSR audits for 261 production suppliers (representing 86.9% of the top 90% suppliers by procurement amount). Regarding green digital infrastructure, ZTE boasts over 800 green innovation patents. As of 2024, the company has conducted carbon footprint assessments for 154 products, covering all its product categories. Through its end-to-end green solutions, ZTE continues to help global operators save over 10 billion kWh of electricity annually. In green empowerment of industries, ZTE has actively integrated cloud and network infrastructure, IoT, big data, AI and other cutting-edge technologies with traditional industries to achieve a win-win outcome of development and emission reduction. The company has partnered with over 2,000 leading industry players to carry out 5G-powered innovative green practices across 18 sectors—including steel, metallurgy, electronics manufacturing, ports, rail transit, mining, and power—pioneering more than 100 innovative application scenarios. Upholding a People-Centered Approach to Foster an Inclusive Society ZTE has pursued sustainable development by advancing both technological leadership and CSR fulfillment. By leveraging its technological advantages, it provides tailored digital solutions to global customers, helping to bridge the digital divide and accelerate digital transformation worldwide. For example, ZTE and Orange have jointly launched the "Enhance Rural Area" project, delivering communications infrastructure to rural regions in Liberia and enabling digital access for more than 580,000 people in remote areas. In Anyang, Henan, the company supported the development of a drone-based blood delivery system, effectively addressing the "last mile" challenge in urban medical logistics. In Hainan, ZTE ensured uninterrupted emergency communications with satellite terminals during Typhoon Yagi. ZTE upholds a people-oriented philosophy. In 2024, ZTE achieved 100% employee training coverage and its ISO 45001 Occupational Health and Safety Management Systems certification now covers offices in 30 countries. In 2024, ZTE carried out 310 regular public welfare activities across various fields, including rural revitalization, education support, and medical and disaster relief. With the joint efforts of 15,000 employee volunteers, the company has provided assistance to over one million people in need, continuously delivering warmth and creating social value. Strengthening Governance to Enhance Corporate Resilience Xie Junshi, EVP and COO of ZTE, states in the report, "Committed to innovation-driven and sustainable development, ZTE has embedded ESG into every aspect of its operations. By harnessing digital and intelligent technologies, we are developing a development model that coexists harmoniously with nature and society, while exploring a path for business continuity in the new era." Integrating sustainable development with its corporate strategies, ZTE aspires to strengthen its core competitiveness with a focus on its vision and three strategic cornerstones—internal control, compliance, and talent. In 2024, ZTE upgraded the corporate governance system and established the Strategy and Sustainability Committee to better incorporate the philosophy of sustainable development into its strategies and business activities. In terms of corporate risk prevention and control, ZTE places particular emphasis on identifying and responding to emerging risks. As AI technology rapidly transforms the world, it brings immense business opportunities while also raising widespread concerns over ethical risks such as privacy infringement and algorithmic bias. To proactively address these challenges, ZTE established the Science and Technology Ethics Committee in 2024, demonstrating high-level organizational commitment to ethical governance. In addition, the company has put in place a technology ethics governance framework to review and assess AI-related R&D projects individually, ensuring the safe, reliable, and inclusive development of AI. As a member of the UN Global Compact and the Global Enabling Sustainability Initiative and a key participant and a pioneer in the Partner2Connect (P2C) Digital Coalition initiated by the International Telecommunication Union, ZTE has received widespread recognition from numerous global authoritative organizations and rating agencies for its exemplary sustainability practices. In 2024, ZTE was recognized with EcoVadis Gold Medal for sustainability excellence. In addition, the company was selected for the S&P Global's Sustainability Yearbook 2024 (China Edition) and honored with the title of "Industry Mover". It was also listed among the 2024 Forbes China ESG 50 list and received the World Internet Conference Distinguished Contribution Award. Furthermore, ZTE won two BDO ESG awards, as well as the LinkedIn MostIn Awards – Global Talent Magnet Employer, among others. Moving forward, ZTE will continue to promote sustainable development globally, leveraging technological innovation and international collaboration to inject digital vitality into efforts toward the United Nations Sustainable Development Goals, working toward a greener, more inclusive, and resilient future.
Korea Herald
30-05-2025
- Business
- Korea Herald
GAR's Sustainability Report 2024 Shows Company, Customers and Communities Growing Together with Purpose
SINGAPORE, May 30, 2025 /PRNewswire/ -- Golden Agri-Resources (GAR) today published its Sustainability Report 2024, covering a year that saw the company establish the scale and scope of its climate ambitions while continuing to deliver on core commitments to tackle deforestation, enhance traceability and promote thriving, resilient agricultural communities. GAR Chairman and Chief Executive Officer, Mr. Franky O. Widjaja, explained how the company's sustainability foundations have helped GAR to navigate a year of global challenges, from economic shifts and evolving regulatory demands to extreme weather conditions. "The world is changing, and so is the future of agribusiness," he said. "At GAR, sustainability isn't just a part of our business strategy; it is our business strategy. We believe that sustainability leadership starts with action; with choices that reflect our values and shape a better future." For the first time, GAR has published a double materiality assessment, addressing both the company's impact on environmental and social issues and how these topics may influence GAR's operations, long-term resilience, and financial performance. In addition to preparing the company for upcoming reporting requirements, this assessment validates GAR's priorities for action on sustainability. Widjaja continued: "As extreme weather and regulations intensify, investing in responsible agriculture matters more than ever. Our 2024 theme of Growing Together with Purpose reflects a year of evolution for GAR's sustainability policies and practice. Over the past year, we have set bold targets for emissions reduction by 2030 and developed a new sustainability framework, Collective for Impact, that provides a clear path forward for the next stage of our sustainability journey – a journey we're taking together with partners, suppliers and smallholders." Notable developments include: Launching Collective for Impact Since 2015, the GAR Social and Environmental Policy (GSEP) has been the foundation of the company's sustainability commitments, implemented in its own operations and across the company's palm oil supply chain in Indonesia. Now, GAR has launched a new framework, Collective for Impact, marking the next phase of its sustainability ambitions. Covering three key areas: Sourcing Responsibly, Caring for our Planet, and Empowering People, this new business strategy extends beyond GAR's Indonesian palm oil supply chain to include its entire business and value chain, operationally and geographically. Anita Neville, GAR's Chief Sustainability and Communications Officer, described how this framework builds on the company's existing initiatives to address critical areas for action. "It has never been more urgent to act on climate change, eliminate exploitation, and protect natural ecosystems," she said. "We know that what got us here will not necessarily get us where we want and need to go," she continued. " Collective for Impact strengthens our resilience, creates long-term value and builds trust to keep us ahead of global expectations. This is not just a sustainability vision; it is a business strategy that touches every part of GAR." Advancing Net Zero Commitments In 2024, GAR set bold 2030 targets to cut absolute emissions as a milestone on its pathway to net zero emissions by 2050. The company will cut Forest, Land, and Agriculture (FLAG) emissions by 30% and non-FLAG emissions by 42% from its 2022 baseline. Last year, GAR reduced Scope 1 and 2 emissions from its direct operations by 3% through continued implementation of No Deforestation, No Peat and No Exploitation (NDPE) policies, coupled with energy efficiency initiatives and increased renewable energy use. However, GAR's total emissions increased by 7% year on year, from 32.7 million tonnes of CO 2 equivalent in 2023 to 35 million tonnes in 2024, driven by a 10% increase in Scope 3 emissions. These supply chain emissions account for 79% of GAR's total carbon footprint, underscoring the critical role of ongoing supplier engagement and collecting first party emissions data; two core pillars of the company's Scope 3 reduction efforts. Leading in Transparency and Traceability GAR has continued to map its Indonesian palm oil supply chain and has now reached 99.5% Traceability to the Plantation (TTP). The company is intensifying efforts to address the final 0.5% of TTP, addressing variability within its supply chain and extending its partnerships with smallholders to implement traceability while supporting them to improve yields and livelihoods. Elsewhere, the company has successfully expanded its traceability commitments to its other commodities, implementing 100% Traceability to the Mill (TTM) for soy, sugar, sunflower and coconut globally. The company has also launched the blockchain-powered SmartTrace system, giving users a window on the full journey of a palm oil product from plantation to purchase. Together with satellite monitoring, mapping, and supplier transformation initiatives, GAR is continuing to ensure responsible production across its supply chain, helping customers to prepare for the European Union Deforestation Regulation (EUDR) and future regulations. Action for Communities GAR's Bright Future Initiative continues to help communities build better livelihoods. In 2024, the company supported 189 projects, and empowering 113 Micro, Small, and Medium Enterprises (MSMEs) with skills from farming and technology to operations training, helping them grow and reach new markets. About Golden Agri-Resources Ltd (GAR) GAR is a leading fully-integrated agribusiness company. In Indonesia, it manages an oil palm plantation area of more than 500,000 hectares (including plasma smallholders) as of 31 March 2025. It has integrated operations focused on the technology-driven production and distribution of an extensive portfolio of palm-based products throughout its established international marketing network. Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$ 2.6 billion as of 31 March 2025. Flambo International Limited, an investment company, is GAR's largest shareholder, with a 50.56% stake. In addition, GAR's subsidiary, PT SMART Tbk was listed on the Indonesia Stock Exchange in 1992. As an integrated agribusiness, GAR delivers an efficient end-to-end supply chain, from responsible production to global delivery. In Indonesia, its primary activities include cultivating and harvesting oil palm trees; the processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products globally. GAR's products are delivered to a diversified customer base in over 110 countries through its global distribution network with shipping and logistics capabilities, destination marketing, onshore refining and ex-tank operations. GAR also has complementary businesses such as soybean-based products in China, sunflower-based products in India, and sugar businesses.
Yahoo
30-05-2025
- Business
- Yahoo
GAR's Sustainability Report 2024 Shows Company, Customers and Communities Growing Together with Purpose
SINGAPORE, May 30, 2025 /PRNewswire/ -- Golden Agri-Resources (GAR) today published its Sustainability Report 2024, covering a year that saw the company establish the scale and scope of its climate ambitions while continuing to deliver on core commitments to tackle deforestation, enhance traceability and promote thriving, resilient agricultural communities. GAR Chairman and Chief Executive Officer, Mr. Franky O. Widjaja, explained how the company's sustainability foundations have helped GAR to navigate a year of global challenges, from economic shifts and evolving regulatory demands to extreme weather conditions. "The world is changing, and so is the future of agribusiness," he said. "At GAR, sustainability isn't just a part of our business strategy; it is our business strategy. We believe that sustainability leadership starts with action; with choices that reflect our values and shape a better future." For the first time, GAR has published a double materiality assessment, addressing both the company's impact on environmental and social issues and how these topics may influence GAR's operations, long-term resilience, and financial performance. In addition to preparing the company for upcoming reporting requirements, this assessment validates GAR's priorities for action on sustainability. Widjaja continued: "As extreme weather and regulations intensify, investing in responsible agriculture matters more than ever. Our 2024 theme of Growing Together with Purpose reflects a year of evolution for GAR's sustainability policies and practice. Over the past year, we have set bold targets for emissions reduction by 2030 and developed a new sustainability framework, Collective for Impact, that provides a clear path forward for the next stage of our sustainability journey – a journey we're taking together with partners, suppliers and smallholders." Notable developments include: Launching Collective for Impact Since 2015, the GAR Social and Environmental Policy (GSEP) has been the foundation of the company's sustainability commitments, implemented in its own operations and across the company's palm oil supply chain in Indonesia. Now, GAR has launched a new framework, Collective for Impact, marking the next phase of its sustainability ambitions. Covering three key areas: Sourcing Responsibly, Caring for our Planet, and Empowering People, this new business strategy extends beyond GAR's Indonesian palm oil supply chain to include its entire business and value chain, operationally and geographically. Anita Neville, GAR's Chief Sustainability and Communications Officer, described how this framework builds on the company's existing initiatives to address critical areas for action. "It has never been more urgent to act on climate change, eliminate exploitation, and protect natural ecosystems," she said. "We know that what got us here will not necessarily get us where we want and need to go," she continued. "Collective for Impact strengthens our resilience, creates long-term value and builds trust to keep us ahead of global expectations. This is not just a sustainability vision; it is a business strategy that touches every part of GAR." Advancing Net Zero Commitments In 2024, GAR set bold 2030 targets to cut absolute emissions as a milestone on its pathway to net zero emissions by 2050. The company will cut Forest, Land, and Agriculture (FLAG) emissions by 30% and non-FLAG emissions by 42% from its 2022 baseline. Last year, GAR reduced Scope 1 and 2 emissions from its direct operations by 3% through continued implementation of No Deforestation, No Peat and No Exploitation (NDPE) policies, coupled with energy efficiency initiatives and increased renewable energy use. However, GAR's total emissions increased by 7% year on year, from 32.7 million tonnes of CO2 equivalent in 2023 to 35 million tonnes in 2024, driven by a 10% increase in Scope 3 emissions. These supply chain emissions account for 79% of GAR's total carbon footprint, underscoring the critical role of ongoing supplier engagement and collecting first party emissions data; two core pillars of the company's Scope 3 reduction efforts. Leading in Transparency and Traceability GAR has continued to map its Indonesian palm oil supply chain and has now reached 99.5% Traceability to the Plantation (TTP). The company is intensifying efforts to address the final 0.5% of TTP, addressing variability within its supply chain and extending its partnerships with smallholders to implement traceability while supporting them to improve yields and livelihoods. Elsewhere, the company has successfully expanded its traceability commitments to its other commodities, implementing 100% Traceability to the Mill (TTM) for soy, sugar, sunflower and coconut globally. The company has also launched the blockchain-powered SmartTrace system, giving users a window on the full journey of a palm oil product from plantation to purchase. Together with satellite monitoring, mapping, and supplier transformation initiatives, GAR is continuing to ensure responsible production across its supply chain, helping customers to prepare for the European Union Deforestation Regulation (EUDR) and future regulations. Action for Communities GAR's Bright Future Initiative continues to help communities build better livelihoods. In 2024, the company supported 189 projects, and empowering 113 Micro, Small, and Medium Enterprises (MSMEs) with skills from farming and technology to operations training, helping them grow and reach new markets. About Golden Agri-Resources Ltd (GAR) GAR is a leading fully-integrated agribusiness company. In Indonesia, it manages an oil palm plantation area of more than 500,000 hectares (including plasma smallholders) as of 31 March 2025. It has integrated operations focused on the technology-driven production and distribution of an extensive portfolio of palm-based products throughout its established international marketing network. Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$ 2.6 billion as of 31 March 2025. Flambo International Limited, an investment company, is GAR's largest shareholder, with a 50.56% stake. In addition, GAR's subsidiary, PT SMART Tbk was listed on the Indonesia Stock Exchange in 1992. As an integrated agribusiness, GAR delivers an efficient end-to-end supply chain, from responsible production to global delivery. In Indonesia, its primary activities include cultivating and harvesting oil palm trees; the processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products globally. GAR's products are delivered to a diversified customer base in over 110 countries through its global distribution network with shipping and logistics capabilities, destination marketing, onshore refining and ex-tank operations. GAR also has complementary businesses such as soybean-based products in China, sunflower-based products in India, and sugar businesses. View original content to download multimedia: SOURCE Golden Agri-Resources
