EUROCHAM Malaysia has informed its CEO, Mr. Sven Schneider, and his team has engaged in a second discussion with the Ministry of International Trade and Industry (MITI) on 12 January regarding the adoption and implementation of the Environmental, Social and Governance (ESG) freamework within the manufacturing sector.
The discussion was organised and chaired by YBhg Dato’ Sri Norazman Ayob, Deputy Secretary General of MITI Malaysia.
Prior to the meeting, the parties had met on 6 September 2022 discussing the adoption of an ESG framework in line with the government’s goal under the 12th Malaysian Plan of becoming a net-zero carbon emission country by 2050.
The discussion focused on the eleven ESG guidelines (provided by Bursa Malaysia) which companies have to comply with, most especially when it comes to their Sustainability Reporting.
Throughout the discussion the importance of the manufacturing sector in reaching the ESG targets was highlighted as the sector is a major contributor to the country’s economic growth and development as well as export earnings.
The Ministry emphasised the importance of ESG compliance in the further development and growth of the country, especially in terms of trading with other nations that adhere to stringent ESG standards and regulations.