ALIGNMENT WITH UN SDGs
- Climate Change & Action
- MATERIALS (RESOURCE CONSUMPTION)
We recognise the importance of climate-related disclosures and their importance to our business, investors and stakeholders. To ensure that we are transparent about our efforts towards mitigating climate change and integrating these into our business strategy.
We have adopted the recommendations of the TCFD, established by the Financial Stability Board. Tune Protect Group became a TCFD supporter in August 2022. Our public declaration on our support for the TCFD and its recommendations demonstrates our active commitment in building a more resilient financial system.
Corporate-wide targets such as sustainability (with metrics monitoring environmental performance, among others) are incorporated into the performance metrics for executives. Performance for all employees is assessed annually via a qualitative scorecard which includes sustainability and determines bonus awards.
Our business strategy is focused on exiting commercial lines of business related to hydrocarbons such as oil and gas. Instead, we focus on three preferred segments: Health, Lifestyle, and SMEs. We are also committed to transitioning away from coal by 2030.
Additionally, we do not take on the risks associated with companies involved in the production of tobacco and weapons, which are harmful industries and in support of the UN SDGs.
Additionally, we do not take on the risks associated with companies involved in the production of tobacco and weapons, which are harmful industries and in support of the UN SDGs.
Engagements with various corporate groups and chapters focused on Climate Change is a key avenue for Tune Protect Group to keep abreast with transitional changes such as policy, regulatory and legal obligations, while also making sure that our voice is heard in discussions for the development of national climate strategies.
We remain guided by our Group Recruitment and Selection Policy which facilitates our recruitment process, ensuring that we only handpick the best candidates in a fair and transparent manner. In addition, we ensure that our operations are in compliance to global human rights frameworks and conventions in line with the Ten Principles of the UN Global Compact.
Our use of scenario analysis of climate variability is distinctive to flood risks and concentration, and considers past experience and probabilistic future loss, based on our reinsurance broker’s Catastrophe Model with regards to our business and risk exposure, which are mainly short term.
We are committed to considering climate-related risks and opportunities in an integrated way across the Group in order to mitigate these exposures.
We developed a carbon footprint measurement process using the globally accepted GHG Protocol Framework.
While we are in the process of enhancing our capacity to measure our indirect, Scope 3 emissions, we aim to encourage our customers to manage their own carbon emissions, particularly those generated indirectly through our product offerings.
Tune Protect Group advocates a climate-conscious work environment by regularly assessing our carbon footprint and waste generation, promoting responsible consumption of energy and paper, adhering to proper waste management in our offices and encouraging eco-friendly practices with our suppliers.
The graphs below illustrate the electricity consumption in both our headquarter and branches over the years:
Our other initiatives to reduce electricity consumption include:
Our other initiatives to reduce electricity consumption include:
- Earth Hour Fridays in offices, where we turned off unnecessary lights and electrical appliances for one hour from 12pm to 1pm.
- Replaced lights with LED bulbs in the Boardroom at our headquarters.
- Installed programmed timers for water boilers to reduce electricity consumption, enabling them to power off automatically every day after working hours.
- Lighting floor plans for switching off non-essential lights when no longer required on Level 9 of Wisma Tune (our headquarters).
Our commitment to manage our water consumption also seeks to protect the environment and its limited natural resources which impacts us, especially during water cuts and droughts. We continue to raise awareness on the importance of reducing our use of water through initiatives such as placing signages in the restrooms of our headquarters and encouraging employees to monitor their consumption.
We began tracking the water consumption 16 of our branches across Malaysia to gain greater insights into our environmental impacts in 2022. Our water consumption for the year was 1,009 m3.
We began tracking the water consumption 16 of our branches across Malaysia to gain greater insights into our environmental impacts in 2022. Our water consumption for the year was 1,009 m3.
To reduce our environmental footprint, we have gravitated towards paperless operations and digital delivery.
- Includes the design, development, and delivery of our products electronically and digitally
- Emailing policy documents to customers, providing fully editable forms
- E-billing and e-card features, for paperless transactions
- Paperless collaterals and business cards
- Initiated Project KonMari in 2021; involves the removal of outdated dot matrix printers used in our business operations which were major sources of our paper consumption. Adjusting default office printer settings to duplex and grayscale printing, while installation of new printer devices is on a request basis. We also give employees the option to print on recycled paper for internal usage when necessary.
We believe that the 5R approach to environmental protection is one of the most effective ways to ensure our impact on the environment is minimised. This approach promotes resource conservation, efficient use of materials, reduction of waste material and its harmful effects on the environment, better environmental protection measures and recycling.
- Refuse
We encourage employees to reduce their carbon footprints by doing their part in preventing indiscriminate dumping of recyclable materials. Employees are encouraged to use waste bins and collection containers so that they can reduce waste at source. - Reduce & Repurpose
The Green Screen group on our Workplace social media platform aims to present messaging to educate readers about the carbon emissions generated from unnecessary purchases and should therefore be avoided where possible. We also have initiatives to reduce the usage of paper with paperless options and digital delivery. - Reuse
Our employees are encouraged to opt for reusable food containers, bottles and bags in place of singleuse plastic, especially for meals at the office. We help our communities through Project KonMari and donate gently-used furniture to charitable organisations such as IDEAS Autism Centre, IDEAS Academy, Bake with Dignity, Negeri Sembilan Deaf Association, Monfort Boys Town, Monfort Training Centre Melaka and Chin Refugee School Kuala Lumpur. - Recycle
To prevent glass, metal, and mercury content from polluting landfills and leaking into water resources, we recycled fluorescent tubes and e-waste materials. They were all sent to collection facilities, wherein employees made sure they were disposed of and recycled in compliance with the law. This also includes the recycling of bulbs, paper and plastic at IPC Recyclable Waste Drop Off Station. We also have a bi-annual e-waste initiative to collect, recycle and dispose batteries at 1Utama Recycling Centre
