Malaysia approves national ESG strategic plan

Kuala Lumpur – Malaysia’s National Sustainable Development Goal Council on December 18 approved the National Environmental, Social and Governance (ESG) Strategic Plan.

Malaysian Prime Minister Anwar Ibrahim wrote on his X page that the plan was formulated in the government’s efforts to bring Malaysian business entities in phases toward ESG compliance and reporting, and even to a level beyond compliance, thus creating a competitive advantage and sustainable development for the country.

He mentioned the need to ensure that small and medium-sized enterprises (SMEs) are not burdened with high costs in their efforts to comply with ESG guidelines, hence it is recommended that a dry run for ESG implementation also be carried out by public-listed companies, multinationals and government-linked companies.

Malaysia has made encouraging progress with a projected achievement of 43 per cent of the SDG target by 2030, surpassing the global average projection of 17 per cent.

The Malaysian Business Chamber Vietnam (MBCV) under the leadership of president Angus Liew, has marked a significant chapter in its history by participating in the inaugural ASEAN-Malaysian Business Chambers Summit.

Malaysia launched on December 12 a national artificial intelligence (AI) office aimed at shaping policies and addressing regulatory issues, as it looks to establish itself as a regional hub for AI development.