Masteel first steel mill listed on FTSE4GOOD Bursa

KUALA LUMPUR: Malaysia Steel Works (KL) Bhd (Masteel) has become the first ‘ultra-low carbon emission’ integrated steel mill listed on the FTSE4GOOD Bursa Malaysia Index, having invested over RM60 million in various carbon dioxide (CO2) emission reduction initiatives in its operations.

Managing director and chief executive officer Datuk Seri Tai Hean Leng said Masteel’s pioneering achievement on FTSE4GOOD Bursa Malaysia Index was borne out of the unequivocal dedication, foresight and immense success in revolutionising the steelmaking industry at its core manufacturing process.

He said the integrated steel manufacturer earned three stars out of four in the environmental, social and governance (ESG) ratings among public-listed companies (PLCs) in FBM EMAS, placing it within the top 26-50 per cent of PLCs assessed by FTSE Russell. “We have invested approximately RM60.66 million across various CO2 reduction initiatives towards our goal of reducing total CO2 emissions by approximately 7,300 tonnes,” he said in a statement yesterday.

He also said the group aims to reduce emissions by a further 10 per cent by 2026 and 15 per cent by 2031.

“At the same time, we will also expand our emissions monitoring systems from Scopes 1 and 2 currently to include Scope 3, to implement incremental step-ups in a systematic and sustainable manner,” he said.

He noted that Masteel has been focusing on minimising other air pollutants in addition to CO2 emissions mitigation measures, including the installation of a Continuous Emissions Monitoring System at the Bukit Raja, Klang plant in 2021, which is capable of tracking particulate matter, nitrogen dioxide and sulphur dioxide emissions in real-time.