BUSINESS

MALAYSIAN COMPANIES URGED TO EMBRACE ESG PRACTICES THROUGH DIGITALISATION

27/07/2023 08:14 PM

By Abdul Hamid A Rahman

PETALING JAYA, July 27 (Bernama) -- Local companies, including multinational corporations and micro, small and medium enterprises and other types of businesses, have to pursue sustainability in environmental, social and governance (ESG) through digitalisation.

Malaysia External Trade Development Corporation (MATRADE) deputy chief executive officer (exporters development) Abu Bakar Yusof said digitalisation needed to be embraced and adopted by all companies and exporters.

“We have to digitise our processes and digitalisation must be part of the business model.” 

“Adopting ESG practices is not just an ethical obligation but also a strategic advantage for companies and exporters alike,” he said in a keynote speech at the Asia CEO Luncheon event at One World Hotel on Wednesday.

He said digitalisation would unlock new market opportunities, strengthen supply chain resilience, attract investment, mitigate risks, foster innovation, enhance reputation and contribute to a positive social and environmental impact.

“As global expectations continue to rise, let us seize this opportunity to be responsible towards our planet and society. Together, we can create a better and more sustainable future for all,” he said.

The Asia CEO Luncheon is an event that provides an excellent opportunity for chief executive officers (CEOs) in the region to gain insights into the importance of ESG strategies and how to leverage them as a business advantage.

It aims to create awareness and facilitate CEOs and top management in exchanging ideas for transitioning into and building a sustainable business to stay competitive, especially in the global market. 

StartNow.Asia chief ESG and business advisor Datuk Vimmy Yap said businesses in Malaysia, particularly exporters, should ensure their competitiveness in the global market by leveraging ESG practices.

“We are wholeheartedly backing them and our support has also been extended to align with the upcoming government’s national Industry ESG Framework, scheduled to be announced in September 2023,” she told Bernama at the event.

StartNow.Asia is a prominent advocate for ESG, empowering businesses to adopt sustainable strategies for positive impact and long-term success.

The company offers consultations, events, workshops and initiatives to create a more sustainable and equitable future for all and more information can be found on its website, https://startnow.asia.

Meanwhile, Taylor College’s campus director and pro-vice chancellor, international relations of Taylor’s University, Josephine Tan said today’s event served as a powerful testament to the unwavering dedication to promoting ongoing learning and the adoption of ESG practices among businesses.

“Our goal is to connect CEOs and investors, both from overseas and local backgrounds, with the invaluable stakeholders in Malaysia.

“Today’s gathering serves as a platform for the exchange of ideas, forging of partnerships and cultivation of collaborations that have the potential to unlock new possibilities, innovative solutions and business strategies aligned with the principles of sustainability, resilience and long-term success,” she said.

The event’s supporting partner, Griffy is facilitating the audience to start ESG initiative by exchanging contact info seamlessly through the smart business cards in one tap which saves paper name cards from reprinting and being thrown away. 

-- BERNAMA


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