Malaysia approves national ESG strategic plan

December 19, 2024 | 16:37

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

Malaysia approves national ESG strategic plan

At the National SDG Council's Meeting (Photo: Malaymail)

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.

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By VNA

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