CMS Still Lack Disclosures On Key Environmental Parameters
CMS Still Lack Disclosures On Key Environmental Parameters
Maybank Investment Bank has given its review on Cahya Mata Sarawak's ESG matters post release of its FY23 Annual & Corporate Governance Reports. The ESG score for CMS has been updated by the investment house to 21 (out of 100) vs. 18 in its last review which was recorded as below average.
馬來亞銀行投資銀行在發佈其23財年年度和公司治理報告後，對Cahya Mata Sarawak的ESG事項進行了審查。該投資機構已將CMS的ESG分數更新爲21分（滿分100分），而上次審查的評分爲18分，低於平均水平。
The house said CMS lacks measurements and disclosure on key environmental parameters (which it said is addressing) and tangible mid/long-term targets, including carbon neutrality / net zero commitments. Maybank however maintains a BUY on CMS with an unchanged MYR1.60 TP based on 10x FY25E PER.
衆議院表示，CMS缺乏對關鍵環境參數（據稱正在解決）和切實的中期/長期目標（包括碳中和/淨零承諾）的測量和披露。但是，根據10倍 FY25E 市盈率，馬來亞銀行維持對CMS的買入，目標價爲1.60令吉不變。
Sustainability Framework developed
In 2023, CMS developed its Sustainability Framework and Roadmap for 2023-25 and prepared towards reporting needed under the TCFD by end2025. On environmental matters, the group will focus on: i) enhancing organisational readiness via policies and management plans; ii) measuring and establishing GHG emissions and energy management baseline and targets; iii) improving waste and water management performances; and v) integrating environmental performance evaluation into its supply chain management. Future reporting on key environmental parameters will bemore detailed with the establishment of its Sustainability Framework.
可持續發展框架已制定
2023年，CMS制定了2023-25年的可持續發展框架和路線圖，並準備在2025年底之前提交TCFD所需的報告。在環境問題上，該小組將側重於：i) 通過政策和管理計劃提高組織準備程度；ii) 衡量和建立溫室氣體排放和能源管理基準和目標；iii) 改善廢物和水管理績效；以及 v) 將環境績效評估納入其供應鏈管理。隨着可持續發展框架的建立，未來關於關鍵環境參數的報告將更加詳細。
Additional measures on governance
Additional measures and actions have been taken to bolster governance which included: i) Group Managing Director and Board of Directors taking responsibility for the group's Anti-Bribery & Anti-Corruption Policy and anti-corruption programme, and ii) integrating anti-corruption clauses in the procurement and tender contracts. The group's procurement process is governed by its Procurement Policies & Procedures Manual, and Group Limits of Authority which are available for internal reference
其他治理措施
已採取其他措施和行動來加強治理，其中包括：i) 集團董事總經理和董事會負責集團的反賄賂和反腐敗政策和反腐敗計劃，以及 ii) 將反腐敗條款納入採購和招標合同。該集團的採購流程受其《採購政策和程序手冊》和《集團授權限制》管轄，這些手冊可供內部參考
More still needs to be done
Another positive in 2023 was the Singapore Green Label certification for the group's Portland Limestone Cement CEM II/B-LL 32.5N product. Overall, while we see traction in managing its ESG matters, more needs to be done including measuring and disclosing on key environmental parameters, and tangible mid/long-term targets. It would also be good if CMS establishes and shares its carbon neutrality / net zero commitments.
還有更多工作要做
2023年的另一個積極因素是該集團的波特蘭石灰石水泥CeM II/B-LL 32.5N產品獲得了新加坡綠色標籤認證。總體而言，儘管我們在管理其ESG事務方面看到了吸引力，但還有更多工作要做，包括衡量和披露關鍵環境參數以及切實的中期/長期目標。如果CMS建立並分享其碳中和/淨零承諾，那也將是一件好事。
譯文內容由第三人軟體翻譯。
