IOI Properties Group Bhd has launched its IOI Sustain Roadmap 2030 (ISR 2030), a strategic blueprint designed to drive sustainable progress across all facets of the group's operations, permeating through all levels of its organisation.
The IOI Properties Group Chief Operating Officer (Property Development) Teh Chin Guan said ISR 2030 outlines 12 strategic pillars that would drive IOI Properties' initiatives in addressing pertinent economic, environmental, social and governance aspects.
"The blueprint focuses on strategic initiatives to address climate change, biodiversity, waste management, sustainable finance, supply chain management, employee wellbeing as well as sustainability risks and opportunities.
"Through ISR 2030, IOI Properties will continue to create sustainable developments, ensuring long-term value creation while supporting global climate goals," Teh said during the launch today.
In line with the group's decarbonisation strategy, the group has partnered TERA VA Sdn Bhd to install four megawatt-peak MWp solar photovoltaic (PV) system at IOI City Mall in Putrajaya.
Teh said the system is expected to generate 19,279 gigajoules of energy, reducing the mall's carbon emission by 4,059.34 tCO2 annually.
"The newly energised solar PV system complements the mall's existing 3.5MWp system with 3,358 tCO2 emissions avoidance per year.
"Guided by our IOI Sustain Roadmap, we are embracing renewable energy (RE), and to proactively address climate risks, future-proofing our developments and assets for climate resilience," Teh said while revealing that the group will strategically invest in solar energy generation for properties within the group's portfolio including sales galleria, retail malls, office towers and landed residential products.
"These investments contribute significantly to overall emission reductions towards our low carbon objectives," Teh added.
ISR 2030 was officiated by the Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.
Meanwhile, IOI Properties Chief Operating Officer (Property Investment) Chris Chong mentioned that with the completion of solar panels at IOI City Mall Phase 2 and Palm Garden Golf Club, the total installed capacity will increase to 9,048.9 kilowatt-peak by the end of the year, with expected annual avoided emissions of 9,170.53 tCO2.
"IOI Properties will continue to focus on its commitment in reducing its Scope 2 and 3 carbon emissions by prioritising RE with continued investment in solar PV systems, advancing climate change mitigation initiatives towards net-zero emissions," Chong said.
During the launch event, the topic of Sustainable and Climate-Resilient Developments was discussed among a notable and esteemed panel of experts as well as advocates from the sustainability sphere.
The forum, moderated by IOI Properties Head of Group Corporate Sustainability Kristine Ng, features the participation of Malaysian Green Building Council President Ar Dr Serina Hijjas, World Wildlife Fund Conservation Director Dr Henry Chan, TERA Managing Director Michael Leong and United Nations Global Compact Network Malaysia & Brunei Head of Programmes Shanta Helena Dwarkasing.
The forum provided insightful knowledge and information from the panellists.
