Global Compact Network Malaysia, the local network of the United Nations Global Compact, and Capital Markets Malaysia have jointly launched the Global Compact Network Malaysia Centre of Excellence (COE) to drive strategic development of the sustainability agenda and to accelerate the performance of corporate Malaysia in supporting the achievement of the Sustainable Development Goals (SDGs).
Growing adoption globally of sustainable and responsible investing (SRI) as an investment principle has made it imperative for Malaysian public listed companies to be equipped to meet global sustainability standards and be prepared to communicate their sustainability efforts meaningfully to stakeholders.
Capital Markets Malaysia, an affiliate of the Securities Commission Malaysia (SC), will provide strategic support and seed funding for the COE as part of its initiative to position Malaysia as a regional centre for sustainable and responsible investment.
“The SC is committed to the development of Malaysia’s sustainable financing and investment ecosystem, and will continue to encourage innovation and collaboration by the industry to advance our national sustainability agenda. The partnership between Global Compact Network Malaysia and Capital Markets Malaysia is certainly a step forward to enable and accelerate private sector performance in incorporating globally recognized sustainability standards”, said Datuk Syed Zaid Albar, Chairman of the SC.
The Malaysian capital market has undertaken various other initiatives to advance the country’s sustainability agenda. These include the development of the FTSE4Good Index, introduction of the Sustainability Reporting Framework for public listed companies by Bursa Malaysia and most recently the SC’s Sustainable and Responsible Investment Roadmap for the Malaysian Capital Market (SRI Roadmap).
“Investors, consumers and Governments are all pushing for a more transparent and responsible way of doing business, and companies that embrace sustainability and contribute to achieving the Sustainable Development Goals (SDGs) stand to unlock huge market opportunities. Country-level initiatives by Global Compact Network Malaysia such as the COE will ensure that the Malaysian private sector is delivering on the SDGs,” said Ole Lund Hansen, Chief, Global Operations, United Nations Global Compact.
The COE will carry out capacity building activities to train companies on best-in-class corporate sustainability practices and conduct C-suite coaching sessions on reporting and engagement with institutional investors to ultimately prepare corporations to meet global sustainability standards and align themselves with the SDGs.