KUALA LUMPUR: RAM Sustainability Sdn Bhd has awarded a Platinum rating, its highest sustainability rating, to Malaysia Steel Works (KL) Bhd
for its leadership in sustainability performance backed by extremely strong environmental, social and governance (ESG) fundamentals.
The Platinum rank is the newest rating category, alongside Bronze, Silver, and Gold, introduced by RAM Sustainability to highlight advancements in companies’ sustainability standards across ESG components.
RAM Sustainability group chief executive officer and executive director Chris Lee Wai Kit said the Platinum rating reflects Masteel’s leadership and unwavering commitment to sustainability in steel manufacturing, a carbon-intensive sector.
"This prestigious recognition highlights the group’s exemplary corporate and sustainability governance, especially in carbon emissions management.
"We believe Masteel is well placed to manage the impact from the future imposition of a carbon tax in Malaysia,” he said in a filing with Bursa Malaysia today.
Operating within a hard-to-abate sector, the steel producer has developed a structured carbon emissions management strategy to achieve a net-zero target before 2050.
Its executive vice chairman, Datuk Sri Tai Hean Leng, said the group is determined to invest in advanced technologies and processes that reduce their carbon footprint while enhancing operational efficiency.
"We firmly believe that sustainability is not merely a cost to be managed but a powerful catalyst for innovation and growth.
"By integrating sustainable practices into our operations, we aimed to create long-term value for our stakeholders and lead the way toward a more sustainable future,” he said.
Meanwhile, Masteel said the group showcased strong sustainability performance through effective governance, meeting best practices in the Malaysia Code on Corporate Governance, including a majority of independent board members and over 30 per cent female representation.
It has incorporated greenhouse gas emissions reduction into management performance indicators and surpassed its Malaysian peers in sustainability reporting while maintaining a robust human rights policy that ensures employee and community rights, with an 84 per cent awareness rate among stakeholders.
"We are also committed to preventing child and forced labour by making its policies accessible in multiple languages, and it emphasises workplace safety through its Occupational Health and Safety Policy and a five-year target to enhance safety measures and reduce accidents,” Masteel added. - Bernama
