SHAH ALAM, 25 March 2024 – Carlsberg Brewery Malaysia Berhad (The Group) has published its Integrated Annual Report (IAR) for the financial year 2023 on 22 March 2024, marking the successful completion of the Group’s three-year journey towards a full fledge integrated reporting with clear value creation narratives, concise sustainability performance data with cross-referencing and comparable financial and non-financial performance.

Themed ‘Brewing Excellence and Sustainability’, the Group’s Integrated Annual Report 2023 signifies its continuous commitment in delivering an inclusive and progressive report. It narrates the Group’s governance and strategy in addressing key material matters, its risk mitigation and opportunities capitalisation, as well as its outlook and prospects on macroeconomics and headwinds. Guided by the Value Reporting Foundation’s integrated reporting framework, the Group provides its stakeholders with a holistic and detailed overview of its five-year corporate strategy – SAIL’27, and reported on how its capital allocations delivered value to stakeholders whilst aligning with the United Nations Sustainable Development Goals (UN SDGs) in both the Malaysian and Singaporean operations.

The sustainability scope in the Report is aligned with Bursa Malaysia’s Sustainability Reporting Guide, 3^rd Edition, and Illustrative Sustainability Report and showcases a performance data table. In addition, it also reported its sustainability results and progress against the UN Global Compact Index, Task Force on Climate-Related Financial Disclosures (TCFD), Global Reporting Initiative (GRI) Standards and Sustainability Accounting Standards Board (SASB) reporting frameworks.

Most notably, the Group stepped up in its climate-related disclosures aligned with Task Force on Climate-related Financial Disclosures (TCFD) recommendations with Scenario Analysis, which illustrated the Group’s understanding of the possible impacts of climate change on its assets, markets, and economies. Featuring the four core pillars of TCFD – Governance, Strategy, Risk Management, and Metrics and Targets, the Group enhanced its climate-related risk and opportunities reporting on Adapting to Climate Change, Sustainable Packaging and Materials and Water Use and Management.

The Sustainability Statement has also been reviewed by internal auditors, who had provided a Statement of Assurance, a step change that the Group is proud to have achieved for the 2023 IAR this year, as part of its commitment towards greater transparency and data integrity in the reporting process.

In ‘Brewing Excellence,’ the Group shared its Brewery Transformation journey, its passion for innovation in order to deliver exceptional flavours and experiences to consumers, and its relentless commitment to quality. Aligned with its ‘Pursue for Perfection’ ethos, the Group highlighted the company's dedication to producing high-quality products through meticulous brewing processes and stringent quality control measures.

Managing Director of Carlsberg Malaysia, Stefano Clini said, “In 2023, our brewery transformation journey continued with modernisation, innovation, and decarbonisation as we navigated the year with a strong focus on premiumisation and integrating environmental consciousness into every aspect of our operations. Guided by our SAIL’27 corporate strategy, we look back on a year of significant progress in our economic priorities, environmental stewardship, social commitments, and commitment to corporate governance whilst remaining steadfast for a future amid challenges and uncertainties.”

In the report, the brewer showcased its passion for ‘Brewing Sustainability’ through its Sustainability Statement which discusses how the Group addresses its 19 prioritised material matters in detail and mitigated risks associated to them. The featured 19 material matters are a result of the Materiality Validation exercise undertaken, following a Materiality Assessment conducted the year before. The Sustainability Statement also covers the sustainability governance structure, the management of ESG risks and opportunities and stakeholder engagement and advocacy initiatives.

“We will focus on Year Two of SAIL'27's implementation that sets to optimise our portfolios, priorities, and execution, all while driving a winning culture and creating value for our stakeholders. We remain committed to investing in and expanding our premiumisation strategy and upholding our commitment to brewing excellence and sustainability. We will continue to chart our path ahead towards delivering our net zero carbon emission targets and creating sustainable value to our stakeholders,” Clini added.

Carlsberg Malaysia is also encouraged by several prestigious industry accolades and improvements in the FTSE4Good Bursa Malaysia (F4GBM) score (3.6/5) and MSCI ESG ratings (6.4/10) last year. It had won the much-coveted Platinum Excellence Awards in the ‘Companies with RM2-10 Billion in Market Capitalisation’ category for the National Annual Corporate Report Awards (NACRA) 2023, where it had received Silver the year before. These recognitions are a testament of its reputation as an attractive brewer in creating value for investors, cultivating a high-performance culture for the employees, and shouldering responsibilities as a sustainable corporate citizen for society at large.

As Carlsberg Malaysia continues to Brew for a Better Today and Tomorrow, the Group remains committed to uphold the integrity of the Integrated Annual Reporting disclosures, greater corporate accountability, and reporting excellence.

Click here to access the interactive Carlsberg Brewery Malaysia Berhad’s 2023 Integrated Annual Report: interactive-carlsberg_iar2023.pdf (carlsbergmalaysia.com.my)