SGS and iRecycle Partner to Promote Digital Carbon Management Platform for Low Carbon Transformation

Baguio iRecycle Limited ("iRecycle") has collaborated with SGS Hong Kong Limited ("SGS") to jointly promote supplier reporting of greenhouse gas emissions data. iRecycle’s parent company, Baguio Green Group Limited ("Baguio", stock code: 1397) takes pride in being the first Integrated Environmental Services Company in Asia to embrace the adoption of the S-Carbon digital carbon management platform, outlining the company’s carbon reduction roadmap. The platform seeks to enhance businesses' comprehension of their suppliers' carbon emissions levels, fostering an environment that encourages suppliers to actively reduce their carbon footprint. This aligns with the ambitious objective set by the Hong Kong government to attain carbon neutrality by 2050.

By leveraging the S-Carbon platform, Baguio seamlessly incorporates a digital solution that enables the comprehensive collection of Scope 1, 2, and 3 carbon emission data, streamlining the monitoring and analysis of carbon emissions. This proactive strategy empowers Baguio to efficiently manage carbon emissions and transition towards a low-carbon model. In terms of Scope 3 carbon emissions, Baguio utilizes S-Carbon to gather crucial carbon emissions data from both upstream and downstream supply chains, ensuring readiness for future disclosure requirements.

Dr. Terrence Ng, Chief Administration Officer of Baguio, expressed, "The growing concern for climate change in Hong Kong has led to the recent establishment of a timetable by the Hong Kong Stock Exchange (“HKEX”), mandating listed companies to disclose their Scope 3 carbon emissions data, accompanied by public consultation. The disclosure of Scope 3 carbon emissions data has emerged as a catalyst for promoting sustainable development collaborations among enterprises, thereby driving further progress towards low-carbon transformations. In the realm of sustainable procurement, meeting the disclosure requirements outlined in ESG reports by the HKEX will necessitate suppliers capable of providing low-carbon emission services or products, accompanied by comprehensive carbon emissions data. These factors will become indispensable criteria for listed companies when selecting their suppliers."

Ms. Miranda Kwan, Director of Knowledge Solutions, SGS Hong Kong said: "Practicing sustainable development is a critical global issue today. We are honored that Baguio has chosen the S-Carbon digital carbon management platform developed by SGS to track and assess greenhouse gas emissions within their value chain, including Scope 3 carbon data, thereby achieving comprehensive corporate carbon management. Companies can leverage the carbon data on the S-Carbon platform to plan their own carbon reduction timeline while meeting local ESG reporting disclosure requirements. This will open up new opportunities for businesses, enhance competitiveness, and take a crucial step forward on the path to sustainable development, creating long-term business value.”