Wasco Empowers SMEs On ESG Readiness Ahead Of NSRF Rollout

KUALA LUMPUR, July 23 (Bernama) -- Wasco Bhd is taking early steps to support small and medium-sized enterprises (SMEs) in its supply chain as Malaysia prepares for mandatory environmental, social and governance (ESG) disclosures under the National Sustainability Reporting Framework (NSRF).

The energy infrastructure services group said it will host its inaugural Sustainability Day on July 29 in Kuala Lumpur, themed “Building a Responsible Value Chain Together”, to help vendors prepare for upcoming sustainability requirements.

“The full-day event aims to raise awareness and build ESG readiness across Wasco’s vendor ecosystem, with a focus on Scope 3 greenhouse gas (GHG) emissions, human rights due diligence, and responsible sourcing,” it said in a statement today.

The programme will feature keynote addresses, a panel session and vendor advisory booths offering hands-on ESG guidance. A highlight will be the panel discussion, “From Learning to Leading: Real Stories from the Sustainability Journey”, moderated by broadcast journalist and ESG advocate Freda Liu.

Fresh from winning at the 2025 Sustainability and CSR Awards Malaysia, Wasco said it is expanding its ESG efforts beyond internal operations to empower supply chain stakeholders.

“Sustainability is no longer a peripheral issue. It is central to long-term value creation,” said Wasco chief strategy officer Ariesza Noor. “While some companies focus on general ESG awareness, we are going deeper - tackling climate data, supplier transparency and human rights due diligence through practical, sector-specific guidance.”

She said that although many SMEs in Wasco’s supply chain are not immediately subject to NSRF disclosure requirements, proactive engagement is essential. “We recognise that many of our partners are not legally bound yet. However, readiness cannot wait until regulation knocks. That is why we have stepped in early - not to audit, but to empower,” Ariesza added.

The NSRF, led by the Securities Commission Malaysia, aligns with global standards issued by the International Sustainability Standards Board (ISSB), requiring disclosures based on IFRS S1 and S2 - including Scope 1, 2 and 3 GHG emissions.

The phased implementation will begin on Jan 1, 2025, with Tier 1 Main Market PLCs (those with market capitalisation of RM2 billion and above) required to comply first. Other Main Market companies are expected to follow by 2026, while ACE Market firms and large unlisted entities (with revenue over RM2 billion) must comply from 2027, with full adoption due by 2030.

Among the event’s ESG knowledge-sharing segments are sessions by Bursa Malaysia, UNGC Malaysia & Brunei, and independent experts offering toolkits on climate reporting, social compliance and ethical procurement.

-- BERNAMA