We are proud to share that QES Group has been included as a constituent of the FTSE4Good Bursa Malaysia Index and FTSE4Good Bursa Malaysia Shariah Index since December 2024.
This recognition reflects our ongoing commitment to responsible and sustainable business practices. Assessed by FTSE Russell, QES Group has met the criteria for strong Environmental, Social and Governance (ESG) standards.
The FTSE4Good Index Series, developed by global index provider FTSE Russell, serves as a benchmark for companies with robust ESG practices. It is widely used by investors to guide responsible investment strategies and products.
SUSTAINABILITY STATEMENT
At QES Group Berhad, sustainability is at the core of how we create long-term value for our stakeholders. This Sustainability Statement (SS) provides an overview of our Environmental, Social, and Governance (ESG) performance for the financial year ended 2024.
It reflects our commitment to embedding sustainability into business strategy and operations—identifying material ESG risks and opportunities, tracking progress against set targets, and aligning with global standards. Our efforts are guided by the belief that responsible growth goes hand-in-hand with innovation, resilience, and accountability.
We are committed to:
- Driving sustainable business practices that balance growth with responsibility.
- Linking our material sustainability matters to the United Nations Sustainable Development Goals (UN SDGs).
- Delivering measurable ESG impact across our nine (9) ESG Core Themes.
- Creating long-term value while addressing the challenges of a changing global environment.
Reporting Guidelines, Framework and Standards
Sustainability governance at QES is embedded within our corporate risk management framework. Climate-related risks and opportunities are systematically assessed, ensuring alignment with investor expectations and regulatory standards.
Our sustainability disclosures and practices are benchmarked against leading global frameworks, including:
- Malaysian Code on Corporate Governance (“MCCG”)
- Global Reporting Initiative (“GRI”) Standards
- Task Force on Climate-related Financial Disclosures (“TCFD”) Recommendations
- United Nations Sustainable Development Goals (“UNSDG”)
- FTSE Russell ESG Ratings
- National Sustainability Reporting Framework (“NSRF”)
- IRFS Sustainability Disclosure Standards, IRFS S1 and IRFS S2
Sustainability Governance Structure
Our three-tier governance structure, anchored by the Sustainability Steering Committee (SSC) chaired by the Group Managing Director since 2019, ensures effective oversight, accountability, and delivery of ESG initiatives across all divisions.
- Oversee sustainability and climate-related strategy
- Ensuring sustainability and climate-related risks and opportunities are integrated into QES’s long-term planning.
- Establishes the strategic direction, vision, and core values while ensuring that business operations are aligned with sustainability goals and the expectations of stakeholders
- Oversee the Group’s sustainability strategy goals to the long term business growth and objectives.
- Conducting a thorough assessment of the ESG risks and opportunities relevant to our industry and business operations.
- Identify the environmental and social impacts of our operations, as well as the governance practices that may affect our business performance and reputation.
- Developing the materiality matrix and reporting systems to measure and track our Group’s ESG performance.
- Comprises of the various department heads within the Group and employees who are passionate about ESG.
- Tasked with ensuring that strategies and plans affirmed by the SSC are implemented.
- Monitors progress of sustainability initiatives, activities and targets, and reports to the respective heads of the SSC.
- Ensure that sustainability and climate-related initiatives are integrated into decision-making processes, along with the provision of necessary resources to support them.
- Assisting management in maintaining consistent sustainability standards throughout the Group.
Stakeholder Engagement
We recognise that strong relationships with stakeholders are essential to sustainable success. QES maintains consistent and transparent communication with employees, customers, investors, regulators, and communities through multiple platforms—ranging from daily operational updates to structured annual meetings.
Stakeholder feedback remains central in shaping our ESG strategies and initiatives, guiding us in our mission to be a responsible corporate citizen and a trusted long-term partner.
Materiality Assessment
As part of our efforts to improve the Group’s sustainability framework, the Group has re-prioritized the materiality assessment to identify material sustainability issues and ranked them based on their significance to our business and stakeholders.
Management of Material Issues
At QES, we recognize that effective management of material sustainability issues is critical to ensuring long-term bsuiness resilience, regulatory compliance, and stakeholder confidence. Our approach involves a structured framework of policies, measures, and performance indicators that govern our sustainability initiatives and corporate decision-making. Each material issues identified is linked to specific management strategies, aligning with our sustainability commitments and corporate governance framework.
Continuous Materiality Assessment & Adaption
To ensure that our materiality assessment remains relevant to eemrging risks, regulatory developments, and industry trends, QES will conduct a materiality review on an annual basis. This continuous evaluation process allows us to refine our sustainability strategy adapt to global sustainability trends and meet eveolving stakeholder expectations.
Through these policies, governance measures, and continuous improvements, QES remain committed to sustainable growth, ethical business practices, and long-term corporate resilience.
MATERIAL MATTERS
As part of our efforts to improve the sustainability framework, we re-prioritized the materiality assessment to identify material sustainability issues and ranked them based on their significance to its business and stakeholders.
ENVIRONMENTAL
SOCIAL
GOVERNANCE
At QES, our commitment to sustainability is reflected in our comprehensive policies on climate change, labor practices, ethical sourcing, and corporate governance. By integrating these principles into our operations, we strive to create a positive impact on the environment and society.
Commitment to Climate Change
Environmental Policy
QES Supplier Code of Conduct
Labour Standards Policy EN | BM
Safety & Health Policy 2024
Code of Ethics & Conduct
Anti-Corruption & Bribery Policy
Whistleblowing Policy
Director's Fit and Proper Policy
Corporate Governance Report 2024
Commitment to Climate Change
We recognize the importance of addressing climate change as part of our long-term sustainability strategy. While we are in the early stages of developing our climate-related initiatives, we are dedicated to making meaningful progress. Our commitment to addressing climate change is also outlined in our Environmental Policy, which is available on our corporate website.
We have initiated the measurement of our operational greenhouse gas (GHG) emissions and have disclosed Scope 1 and Scope 2 emissions data for FY2023. As we progress, we are committed to enhancing our measurement and monitoring efforts, with plans to expand our disclosure to include Scope 3 emissions. Our goal is to embed climate considerations into our strategic planning and operations, ensuring continuous improvement and alignment with sustainability best practices.
Read the full Commitment to Climate Change here.
Environmental Policy
We acknowledge the significant impact our operations can have on the environment and are committed to integrating sustainable practices throughout all our business activities.
Given the urgent issues of climate change and environmental degradation, we are focused on reducing our ecological footprint and improving our environmental management practices. This Environmental Policy (the “Policy”) demonstrates our commitment to responsible environmental stewardship and outlines the framework for our sustainability efforts.
Read the full Environmental Policy here.
QES Supplier Code of Conduct
The QES Supplier Code of Conduct (hereafter ‘the Code’) is to help us maintain this commitment by setting standards which we expect our suppliers, their employees, agents, subcontractors, and other representatives to respect and adhere to when conducting their business dealings.
The Code outlines standards for ethical behavior by our employees and business partners. It sets out our four key principles and eleven key risk areas, each of which are explained in detail. It explains how compliance is a commitment, and a responsibility shared by all of us.
Read the full QES Supplier Code of Conduct here.
Read the full Tatakelakuan Pembekal here
Labour Standards Policy EN | BM
Labour Standards Policy EN | BM
We are committed to upholding high standards of labour practices that comply with local laws and align with our Environmental, Social, and Governance (ESG) principles. This Labour Standards Policy (“Policy”) outlines our commitment to ensuring fair treatment, safety, and well-being of all employees, while fostering a diverse, inclusive, ethical, and sustainable working environment.
Read the full QES Labour Standards Policy (EN) here.
Read the full QES Labour Standards Policy (BM) here.
Safety & Health Policy 2024
At QES, we firmly believe that Safety and Health is a key aspect in developing a sustainable future. Success can only be achieved through people. Hence, it is the mission of QES Group to always ensure the safety, health and wellbeing of all employees, contractors, customers, clients and any person involved with the Group.
This Safety and Health Policy shall be applicable and binding to all QES Group of Companies.
Read the full Safety & Health Policy here.
Code of Ethics & Conduct
We are committed to the highest standards of ethical business conduct. In keeping with our commitment and in line with good corporate practices, QES has adopted this Code of Ethics and Conduct which sets out the principal and standards of business ethics and conduct of QES.
Read the full QES Code of Ethics & Conduct here.
Anti-Corruption & Bribery Policy
At QES Group Berhad (“the Company”) and its subsidiaries (“the Group”), we are committed to conducting our business with the utmost legal and ethical standards. We expect our Directors and employees to act with professionalism and integrity in all aspects of our business operations.
This Anti-Corruption and Bribery Policy outlines our dedication to preventing bribery and corruption within the Group. We are proactive in ensuring that our business activities remain free from any corrupt practices, taking all necessary and reasonable steps to uphold this standard.
This policy applies to all entities within the Company, covering Directors, employees, consultants, trainees, agents, suppliers, customers, third parties, and all associated personnel. It aligns with the principles outlined in our Code of Ethics & Conduct Policy.
Read the full QES Anti-Corruption & Bribery Policy here.
Whistleblowing Policy
QES Group Berhad (“the Company”) and its subsidiaries (“the Group”) are firmly committed to the highest standards of corporate governance and business integrity. In line with these values, we offer a platform for both employees and the public to raise concerns or report any improper conduct within the Group, ensuring swift and effective resolution.
Policy Objectives:
- Foster a culture of openness, accountability, and integrity.
- Provide clear channels for employees to voice genuine concerns or allegations about possible misconduct.
- Ensure protection for individuals who raise concerns in good faith, following the correct procedures.
- Enable management to be promptly informed of any acts of misconduct at an early stage.
Read the full QES Whistleblowing Policy here.
Director's Fit and Proper Policy
This policy defines the criteria for the appointment and re-appointment of Directors to the Board of QES Group Berhad (“QES”) and its subsidiaries. We aim to ensure that each Director possesses the character, experience, integrity, competence, and time necessary to effectively fulfill their responsibilities.
The policy serves as a guideline for the Nomination Committee (“NC”) and the Board during the review and assessment of candidates for Board appointments and Directors seeking re-election. It complies with the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) and adheres to the Malaysian Code on Corporate Governance (MCCG) wherever applicable.
Read the full Directors’ Fit & Proper Policy here.
Corporate Governance Report 2024
SECTION A – Disclosure on Malaysian Code on Corporate Governance
The disclosures in this section are made in accordance with Paragraph 15.25 of Bursa Malaysia’s Listing Requirements, reflecting our commitment to upholding corporate governance standards across the Group.
SECTION B – Disclosure on Corporate Governance Practices Pursuant to Corporate Governance Guidelines Issued by Bank Negara Malaysia
These disclosures, as per Appendix 4 (Corporate Governance Disclosures) of the Corporate Governance Guidelines, are applicable to financial institutions and any listed institutions required to comply with these guidelines. This section reflects our compliance with the governance practices mandated by Bank Negara Malaysia.
Read the full Corporate Governance Disclosures here.
2024 @ QES GROUP BERHAD (201401042911)