Sime Darby Property sets net-zero target by 2050, to launch masterplan in 2024

KUALA LUMPUR: Sime Darby Property Bhd (SDP) has set a target to achieve Net Zero by 2050, leveraging three strategic measures.

Group managing director Datuk Azmir Merican Azmi Merican said these measures are optimising assets for energy efficiency, reducing energy consumption and carbon missions, as well as adopting green alternatives.

“I am pleased to announce our pledge to reducing our Scopes 1 & 2 emissions by 40 per cent by 2030,” he said at the company’s Net Zero announcement today.

He said SDP began its sustainable journey back in early 2000 and over the years has collaborated with stakeholders to formulate comprehensive decarbonisation plans.

“This process entails careful consideration of various factors, including viable technological solutions for sustainable operations, localised climate adaptation and mitigation opportunities, requisite domestic policies and regulatory frameworks to drive behavioural shift within our organisations,” he noted.

Therefore, Azmir Merican said SDP is collaborating with stakeholders to gain a deep understanding on Scope 3 requirements and have commenced comprehensive plans towards achieving this, which entails a thorough assessment of waste, business travel and employee commute.

Azmir Merican said the group has a track record of proactive sustainability initiatives such as tracking of disclosures with regards to waste data since 2016 and incorporating low-carbon cement in its projects.

To support the decarbonisation ambition, general manager, sustainability, Dr Yasmin Rasyid said a Net-Zero Masterplan will be launched in the first quarter of 2024, focusing on four pillars.

“As more buyers are willing to pay more for green homes, SDP would be able to capture this segment. Material costs will increase but we know our customers are ready to pay the premium,” she noted. – BK