GlobalData offers a comprehensive analysis of Melco International, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Melco International’s ESG performance. GlobalData’s company profile on Melco International offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Melco International, a leading developer and operator of integrated resorts, is committed to reduce its carbon footprint to combat climate change. The company aims to achieve carbon-neutral resorts and zero waste across its properties by 2030. Additionally, Melco International is committed to contributing to circular economy leadership in Asia, sourcing sustainable goods and services, and reducing its water footprint.
To achieve these goals, the company has established specific targets for its properties based on a baseline year of 2019. These targets include a 5% reduction in scope 1 and 2 greenhouse gas (GHG) emissions intensity by 2030, with ambitions for a 22% reduction. Melco International also aims for a 3% reduction in fuel and electricity consumption intensity and a 19% reduction in water consumption intensity by 2030. Furthermore, the company aims to reduce non-hazardous waste generation intensity by 5%, with ambitions for a 24% reduction.
In 2022, Melco International disclosed Scope 1 emissions amounting to 17,152 Metric Tons of CO2e, while Scope 2 emissions, both location-based and market-based, were 210,353 and 112 Metric Tons of CO2e, respectively. The total Scope 1 and 2 emissions (location-based) summed up to 227,929 Metric Tons of CO2e, and the overall Scope 1 & 2 (market-based) GHG emissions were reported at 17,264 tCO2e.
The company plans to adopt more advanced renewable energy systems and explore the feasibility of adopting Science-Based Targets Initiative (SBTi) targets. It is also investing in low-carbon/low-energy technologies to unlock green financing opportunities. Additionally, Melco International is working on installing systems to collect and monitor data for future reporting on specific emissions reduction targets.
The company recognizes the importance of renewable energy and onsite generation opportunities in decarbonizing its operations and mitigating risks associated with rising energy prices and severe weather events. It is also considering the use of green bonds to reduce capital costs. Melco International is committed to aligning its future developments and retrofits with BREEAM and other green building standards to reduce embodied carbon.
Overall, Melco International is proactively addressing its carbon and greenhouse gas emissions through its emission reduction plans. The company's commitment to sustainability and its efforts to transition to a low-carbon economy demonstrate its dedication to mitigating climate-related risks and contributing to a more sustainable future.