BUSINESS

CSI SOLUTION READY FOR ALL COMPANIES TO SUPPORT ESG, BOOST COMPETITIVENESS – BURSA MALAYSIA

21/06/2024 08:56 PM

KUALA LUMPUR, June 21 (Bernama) -- Bursa Malaysia Bhd announced the newly launched Centralised Sustainability Intelligence (CSI) Solution is now available for companies of all sizes, from conglomerates to small and medium enterprises (SMEs), both listed and unlisted.

According to the exchange, the CSI Solution offers a comprehensive framework to help Malaysian companies integrate environmental, social, and governance (ESG) considerations into their business strategies and operations, enhancing overall competitiveness.

“The CSI Solution will serve as a critical implementation vehicle for Ministry of Investment, Trade and Industry’s (MITI) New Industrial Master Plan (NIMP) 2030 and i-ESG framework, as well as the recently announced National Semiconductor Strategy (NSS). 

“It will accelerate the growth of Malaysian industries, such as the local manufacturing sector’s decarbonisation journey and the pursuit of opportunities in the green economy,” the exchange said in a statement today. 

The solution was launched by MITI Minister Tengku Datuk Seri Zafrul Aziz and witnessed by Bursa Malaysia chairman Tan Sri Abdul Wahid Omar and chief executive officer Datuk Muhamad Umar Swift. 

Tengku Zafrul highlighted the government's commitment to enhancing corporate readiness, emphasising the solution's role in advancing Malaysia's goal of achieving net-zero carbon emissions. 

He noted that the platform facilitates ESG data reporting and supply chain decarbonisation, offering tailored green financing products to SMEs.

"Developing nations like Malaysia must not only align with global standards but also facilitate SME compliance through both technical and financial support. We aim for all sectors and businesses integral to the NIMP and NSS to use the CSI Solution and disclose their ESG metrics uniformly, enabling policymakers to effectively gauge and further support businesses’ sustainability journeys.

"By integrating ESG disclosures into the CSI Solution, companies can enhance their sustainability credentials, access better financing rates, and attract ethical investors, thus driving progress, growth and shared success for Malaysia," added Tengku Zafrul.

Bursa Malaysia stated that early adopters of the CSI Solution come from key economic sectors such as construction, oil and gas, manufacturing, logistics, and automotive, demonstrating its universal applicability.

The exchange added that Malaysian companies and their suppliers prioritising decarbonisation and emissions reduction would benefit from preferential financing rates offered by participating banks of the CSI Solution.

-- BERNAMA 

 

 


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