We recognise that our business activities can impact communities and are mindful of our duty to uphold responsible practices. Central to our business decisions is the creation of a better, more sustainable future and concerted efforts are carried out to conserve, restore and replace the natural resources expended in our daily operations.
Underscoring the importance placed on climate governance, we are a member of the Climate Governance Malaysia. Climate Governance Malaysia is the Malaysian chapter of the World Economic Forum (WEF) climate governance initiative, the second country chapter in the world to be launched and the first in Asia. Top Glove is also a member of The Business Council for Sustainable Development (BCSD) Malaysia, local chapter of the World BCSD, which is a CEO-led organisation providing business leadership for sustainable development.
We know environmental transparency is vital for a sustainable future. In 2021, we disclose our climate change and water security impacts through CDP, a global non-profit that runs the world’s leading environmental disclosure platform. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2021.
We are in the process of integrating the Task Force on Climate-related Financial Disclosure (TCFD) framework in our climate risk management and reporting. This involves incorporating additional climate change-related risks into the Company's Risk Management Framework, besides risks identified earlier such as flood risk and water risk. The TCFD Framework is used as a reference in our climate disclosure for the Sustainability Statement in our Integrated Annual Report. We continue to improve our climate strategy and risk management as well as provide in-depth and transparent reporting, with the aim of fully integrating the Framework.
In line with SDG 13: Climate Action and recognizing the effect of climate change as an impactful risk to the business, community and environment, we measure our CO2 emissions and target to reduce GHG emission intensity by 25% to 0.0215 MT/ ctn by F2025 (base year: FY2021). We are committed to minimize our carbon footprint through the following initiatives: