Global Compact Network Malaysia Centre of Excellence
A key priority for Capital Markets Malaysia over the next 3 years (2020 – 2022) is execute initiatives to maintain Malaysia’s global leadership in ICM by leveraging on sustainable and responsible investments (SRI). As part of this strategy, CMM will lead and/or collaborate with strategic partners in the setting up of regional Centres of Excellence (COE) to fast track the capabilities of our industry players in SRI.
The overarching objective would be to build an ecosystem that incorporates a hub of Innovation Centres, each focused on enabling innovation for a specific group of stakeholders (e.g. corporates, institutional investors, fund managers). These Centres will drive innovation by facilitating networking and collaboration, and other supportive functions that benefit firms; some of those supportive functions include encouraging technology transfer and innovation diffusion, promoting technology exploitation, providing business intelligence, and facilitating innovation management. The first of these to the launched is the Global Compact Network Malaysia Centre of Excellence.
The purpose of this COE is to build up sustainable practices amongst private sector companies and to ensure the manner in which these companies raise financing is sustainable. The COE will provide a platform to build up expertise and positioning of Malaysian PLCs as sustainable companies for investment by sustainable investors looking at opportunities in emerging market. The capacity building activities carried out by the Centre will include, among others, workshops to showcase best practices on sustainable practices amongst companies, C-suite coaching sessions on reporting and engagement with institutional investors, an annual flagship event on sustainability and the role of corporate citizens and study expeditions for companies to learn of best practices in other countries.
Capital Markets Malaysia will support the centre of excellence by providing seed funding and strategic support to Global Compact Network Malaysia in the setting up of this COE. The mandate of this COE is to drive strategic sustainability amongst public listed companies, upskill corporate sustainability practitioners and larger related sustainability competencies, localize global sustainability knowledge and tools to the Malaysian context all of which will enable and accelerate Malaysian Private Sector performance in achieving the Sustainable Development Goals. The Global Compact Network Malaysia Centre of Excellence was launched on 21 January 2020 at an MOU Signing Ceremony between Capital Markets Malaysia and Global Compact Network Malaysia.
The Global Compact Network Malaysia (GCMY) is the official local network to the United Nations Global Compact (UNGC). The UNGC is a call to companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals. By committing to sustainability, business can take shared responsibility for achieving a better world. UNGC aims to mobilise a global movement of sustainable companies and stakeholders to create the world we want. GCMY support companies to 1) Do business responsibly by aligning their strategies and operations with Ten Principles on human rights, labour, environment and anti-corruption; and 2) Take strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation.