Environment
The Group is committed to safeguarding the environment. It continues to monitor and minimise any potential adverse effects of its business operations that may impact the community and environment.
Environment Management System
The Group recognises the impact of its day-to-day business operations on the environment. As such, it is committed to achieving
excellence in manufacturing and managing its operations in an environmentally sustainable way by continuously reviewing the
controls and standard operating procedures. Its manufacturing plants are accredited with ISO 14001: Environment Management
System.
During the financial year, environmental audits that were focused on significant aspects, risks and objectives as required by the
Environmental Management System standards were conducted. Systems are in place to monitor and measure noise exposure,
environmental air pollution, scheduled waste disposal and sewage discharge to meet legal requirements.
GHG Emissions Data
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Oriental Fastech Manufacturing Vietnam GHG Emissions Data for Year of 2022 & 2023 versus Baseline Year of 2016 |
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| Tonnes of CO2e | |||
| 2023 | 2022 | 2016 (Base Year) | |
| Scope 2 | 139 | 259 | 279 |
| Total Gross Emissions | 139 | 259 | 279 |
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We do not have scope 1 emissions as there are no direct emissions generated in our operations. Scope 3 emissions are not included in our measurement and reporting at this point in time. In 2022 we have managed to reduce our CO2e intensity (per unit of revenue) by 11% against base year 2016 In 2023 we have managed to reduce our CO2e intensity (per unit of revenue) by 51.5% against base year 2016 |
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Carbon Reduction Target
To continue our progress to decrease our carbon emissions, we aim to reduce our intensity of GHG emissions Scope 2 per million US$ sales revenue by 52% compared to baseline 2016 by 2025
Carbon Reduction Initiative & Action Plan
Perform an energy consumption study for each activity and equipment category, and then take appropriate action to improve energy efficiency. Emissions linked with the use of purchased electricity are thus greatly reduced.
Focus on installing inverters for equipment.
Continuing internal communications regarding the importance of the Carbon Reduction Project, as well as engaging approaches to urge staff to commit to making changes.
Adopt Renewable Energy through solar energy system installation plan or other instruments such as green tariff and certificates
Electricity and Paper Consumption
The Group promotes environmentally conscious work practices such as energy saving and recycling in order to reduce adverse impact on the environment. It monitors the energy and water consumption on a monthly basis and any unusual deviations are promptly addressed and investigated. Employees are educated to switch off air-conditioning and lights during lunch hours and after office hours to reduce unnecessary energy consumption. Also, any water leakage is fixed as soon as it is noticed to avoid waste. Employees are also encouraged to reduce printing or photocopying, and where possible, to use double side printing and recycled paper to reduce carbon footprint on the environment. The Group also encourages a paperless working environment and practise online E-payment to suppliers, E-notification from human resource department to all employees and E-Annual Report to shareholders.
Waste Management
The Group ensures that waste is properly managed and stored. Used materials such as papers or paper cartons are reused, where possible, or collected by scrap collector to recycling centre. Non-recyclable waste is disposed of responsibly in compliance with regulatory requirements through appointed waste contractor.