FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) ANNUAL REPORT 2024 26 In summary, Frontken Group’s principal aim is to achieve the following: (a) Enhanced Materiality Assessment: Continuously refine and update our business materiality assessment to ensure it aligns with evolving sustainability priorities and addresses the changing needs of our stakeholders. (b) Robust Enterprise Risk Management: Strengthen our enterprise risk management processes to proactively identify, assess, and respond to emerging risks, thereby ensuring the resilience and sustainability of our business operations. (c) Effective Internal Control Systems: Improve internal control systems to uphold transparency, accountability, and ethical practices, fostering a culture of responsible business conduct. (d) Circular Economy Integration: Explore and implement circular economy principles in our business models, taking into account life cycle impacts, to contribute to resource efficiency, waste reduction, and overall sustainability. By actively pursuing these objectives, Frontken Group aims to reinforce its commitment to sustainability, resilience, and responsible business practices, creating enduring value for both the organisation and its broader ecosystem. The Group has set ambitious targets to be achieved by 2050, reflecting our commitment to sustainability and environmental responsibility. These objectives are as follows: a) Environmental Vision 2050: By 2050, our goal is to neutralise 100% of our greenhouse gas emissions, aligning with our Environmental Vision 2050 and contributing to a carbon-neutral future. b) Innovation Portfolio: By 2050, we aim to generate 100% of our innovation portfolio, ensuring that it significantly addresses sustainability challenges and creates substantial value for our employees, customers and stakeholders. c) Sustainable Products and Processes: By 2050, our aim is to create 100% of our products and processes with strict adherence to sustainability development criteria, incorporating green chemistry, green production practices, and embracing circular economy principles to minimise climate impact. These ambitious targets underscore our commitment to long-term sustainability, innovation, and responsible business practices. By setting clear milestones for greenhouse gas emissions, innovation generation, and sustainable product development, we are dedicated to making a positive and lasting impact on the environment, society, and the markets we serve. These objectives reflect our proactive approach to sustainability, aligning with global goals for a more sustainable and resilient future. SIGNIFICANT MILESTONES In fiscal year 2024, Frontken Group achieved significant milestones across several key areas, demonstrating our commitment to innovation, sustainability, and responsible business practices. Some of our key accomplishments include: (a) Strengthened Innovation Platform We successfully enhanced our innovation platform, fostering increased value creation through innovative solutions. By prioritising research and development initiatives, we have expanded our capabilities to address emerging challenges and meet the evolving needs of our customers and stakeholders. (b) Updated Greener Products and Production Processes We made substantial progress in updating our product offerings and production processes to be more environmentally friendly. Through specialised capabilities and investments in sustainable technologies, we have advanced towards greener practices, reducing our environmental footprint and promoting resource efficiency. SUSTAINABILITY REPORT (CONT’D)
RkJQdWJsaXNoZXIy NDgzMzc=