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Climate change continues to be a global concern because of its widespread and interrelated impacts. According to studies, climate risks present challenges to businesses in terms of physical threats and socio-economic hazards. As a business whose operations are based in the Philippines, one of the countries most vulnerable to climate change, JG Summit Holdings, Inc. (JGSHI) recognizes these risks and its responsibility to help mitigate them.
With rising temperatures and extreme weather conditions, various aspects of businesses such as supply chain management, employees’ working conditions, food systems, physical assets, and natural capital are all expected to be affected. As such, the company puts in its utmost effort to optimize its energy consumption, the main contributor to greenhouse gas emissions, and to make the business more resilient in the face of any climate-related hazard in the future.
Managing Energy Consumption
In 2019, JGSHI consumed a total of 39,011,696 gigajoules energy. As we begin to gain a better insight on our energy consumption patterns, the company has identified opportunities and implemented initiatives that aim to manage our energy consumption. This includes increasing fuel efficiency, exploring alternative energy sources, and reducing electricity consumption.
Tracking Greenhouse Gas Emissions
Aside from the energy that the company consumes, the resulting greenhouse gas (GHG) emissions of our operations also pose adverse effects to nature. Aware of the possible risks it can bring to the business, JGSHI has started measuring its GHG emissions in 2019. Building on this information, JGSHI will strategize towards managing our emissions better.
Climate Risk Readiness
As the company continues its sustainability journey, JGSHI gains better understanding of the risks associated with climate change. For instance, the frequency of extreme weather events is being experienced globally.