NEWS & UPDATES
2 JANUARY 2024
Sarawak Energy’s commitment to sustainability and climate action received validation with the approval of its near-term science-based emissions reduction target by the global Science Based Target initiative (SBTi) on 8 November 2023.
The approval places Sarawak Energy among the 2,079 organisations worldwide whose targets received SBTi approval in 2023, making it the first large corporation in Malaysia to achieve such validation.
This reinforces Sarawak Energy’s commitment to achieving an 80.3% per tCO2eq/MWh reduction, equivalent to 0.17 tCO2eq/MWh reduction of grid emission intensity in Scope 1 (the Company’s direct emission from net energy generated and Company-owned vehicles) and Scope 2 (the Company’s indirect emission from buildings and offices) by 2030 over ten years, measured against the year 2020 baseline.
The company is also committed to reducing absolute Scope 3 (the Company’s indirect emission from the upstream and downstream) GHG emissions from the use of sold products (Category 11) by 42% by 2030, from a 2021 base year. Since 2014, Sarawak Energy’s emission intensity has been within the 2°C and 1.5°C targets.
The power developer and utility Group’s roadmap and action plan for Scope 1, 2, and 3 will reaffirm the company’s commitment to reducing carbon emissions and contribute to the goals of the Paris Agreement.
Commenting on the validation, Sarawak Energy's Senior Vice President for Corporate Services, Hajah Siti Aisah Adenan said, “Sarawak Energy is committed to supporting the state’s demand for a reliable and secure power supply while continuously working towards decarbonising the power system. We continue to advance hydropower, which predominantly contributes to the available generation capacity in Sarawak - powering residential, commercial, and industrial activities and supporting Sarawak's economic growth strategy.
“As part of Sarawak’s transition to a low-carbon economy, this commitment aligns with our support for the Paris Agreement. Sarawak Energy utilises the SBTi to quantify its emissions, better understand the Group’s emissions performance, and develop an emissions reduction intervention action plan.”
Sarawak Energy, Malaysia’s largest renewable energy developer, was also the first large corporate body in Malaysia to sign the “Business Ambition for 1.5°Celsius” pledge in 2020.
The approval of Sarawak Energy's science-based target further establishes a distinct goal for reducing carbon emissions across relevant scopes. It serves as a foundational step towards decarbonising the entire Sarawak Energy business value chain in alignment with a science-based target approach and Paris Agreement.
Established in 2015, the SBTi is a global initiative facilitating businesses in setting ambitious emissions reduction targets in line with the latest climate science. It is focused on accelerating efforts by companies worldwide to cut emissions by half before 2030 and achieve net-zero emissions before 2050.
A collaboration between Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), the SBTi is also one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practices in science-based target setting, offering resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
Sarawak Energy’s near-term science-based emissions reduction target has been officially approved by the Science Based Target initiative (SBTi) on 8 November 2023.