PRESIDENT’S

Statement

Tan Sri Dato’ (Dr.) Chew Chee Kin

President

Sunway Berhad

Dear Valued Stakeholders,

The year 2023 remained a challenging period for many industries and businesses, as the world grappled with heightened geopolitical tensions, economic challenges and climate change. Amid the challenging landscape, Sunway remains committed to pursuing the sustainability agenda and advancing the well-being of people and planet.

 

In 2023, we revaluated and re-examined our Goal 5, refreshing it from “Respecting Ethical Principles” to “Upholding Transparency and Delivering Excellence” to reflect a wider scope that includes economic and governance performance. This reflects our commitment to ensuring sustainable financial performance, which is central to the overall sustainability agenda.

 

Our unwavering commitment to transparency has earned us commendable ESG ratings as we maintained our ranking in the top 10% of the Industry Classification Benchmark (Real Estate) Supersector by FTSE Russell and the top 2% globally with “Negligible” ESG Risk by Sustainalytics, reflecting Sunway’s low risk exposure.

 

We established our 2030 Sustainability Goals and Targets in 2019. I am pleased to share that we are progressing well to realise these goals and targets as we consistently review them to ensure that they are aligned with the evolving business and sustainability landscapes.

Our unwavering commitment to transparency has earned us commendable ESG ratings as we maintained our ranking in the top 10% of the Industry Classification Benchmark (Real Estate) Supersector by FTSE Russell and the top 2% globally with “Negligible” ESG Risk by Sustainalytics, reflecting Sunway’s low risk exposure. We welcome the recent introduction of the International Sustainability Standards Board (ISSB), which has broadened the scope of ESG. The emphasis on the quantification of sustainability-related risks and opportunities has further demonstrated how crucial financial sustainability is to our ability to drive impactful sustainability initiatives.

 

Sunway has also been named an early adopter of the Taskforce on Nature-related Financial Disclosures (TNFD), recognising nature-related issues as crucial strategic risk management. The TNFD recommendations will further empower our corporate reporting journey towards identifying, assessing and addressing our nature-related dependencies, impacts, risks and opportunities in a comprehensive manner.

“Integrating sustainability into our products and services has enabled us to continuously stay at the forefront of the industries we are in, offering innovative solutions and meeting evolving demands. We remain steadfast in advancing the UN-SDGs, ensuring that sustainability is embedded in all our decision-making processes, business practices and operations.

Moving forward, our focus lies in accelerating our decarbonisation efforts towards achieving net zero and we remain committed to communicating with transparency with all our stakeholders.

Tan Sri Dato’ (Dr.) Chew Chee Kin

Our sustainability strategy and initiatives are a result of our commitment to communicating transparently with all our stakeholders. Consistent and continuous stakeholder engagement remains instrumental in shaping our sustainability strategies and decision-making processes. Through rigorous materiality assessments, we ensure that our priorities are aligned with global megatrends, regulatory requirements and ESG ratings. In 2023, we conducted a materiality validation against Bursa Malaysia’s common and sector-specific sustainability matters and our industry peers to ensure our material issues remain valid and relevant.