ESG Horizons Digest #4 (22 November 2024) BMCC Newsletter Issue #435
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In this ESG Horizons Digest, we delve into the G in ESG: Governance.
Governance is a crucial part of ESG, but it is often overlooked. It is considered the starting point of industry-shaping ethics. Good governance ensures that a company: - Acts with integrity, transparency, and accountability
- Safeguards the interests of all its stakeholders
- Lays the foundation for sustainable growth and ethical conduct
Some examples of good governance criteria include: - Establishing rules and transparency policies
- Codes of conduct for leadership and employees
- A diverse board with a wealth of views and experiences
- Setting rules and following certain processes
- Adhering to standards
- Ensuring corporate accountability
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Our ESG Horizons Partners' Efforts in Governance |
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bp exemplifies how robust governance can drive long-term success and align leadership decisions with sustainability goals. In its 2024 Net Zero Progress Update, BP highlights the ways it has strengthened its governance structures to integrate sustainability into capital investment decisions and business practices. This commitment ensures that environmental and social considerations remain central to the company’s operations while delivering value to shareholders.
At the heart of BP’s governance framework is a resilient and disciplined financial strategy. The company operates within a structured financial framework comprising five key priorities: maintaining a resilient dividend, ensuring a strong investment-grade credit rating, allocating investments across its growth engines and traditional businesses, and returning surplus cash flow to shareholders. These priorities balance immediate financial returns with long-term value creation, demonstrating BP’s strategic discipline and commitment to shareholder confidence. Find out more about BP's commitment to corporate governance here. |
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Sunway Group exemplifies leadership in governance by embedding sustainability into its decision-making and operational frameworks. Their Board Sustainability Committee (BSC) assumes ultimate responsibility for overseeing sustainability and climate change matters, ensuring these priorities are integral to its business strategies. Comprising four directors from the Group’s Board of Directors, the BSC convenes at least twice a year to review Sunway’s progress and deliberate on key sustainability strategies, fostering a culture of accountability and long-term planning.
Sunway’s governance approach stands out with the integration of sustainability components into performance evaluations and remuneration-linked KPIs of its senior management. Since 2021, these KPIs have driven accountability and measurable progress on ESG priorities. The metrics focus on enhancing energy efficiency, expanding renewable energy usage, increasing waste diversion from landfills, improving occupational health and safety practices, boosting employee development, and raising ESG rating scores.
Read more about Sunway's efforts in corporate governance here. |
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We believe that good governance isn’t just about adhering to regulatory requirements. It is also about fostering trust, accountability, and sustainable value creation for all stakeholders.
By highlighting best practices in governance, we encourage businesses to adopt robust frameworks that drive ethical leadership, transparency, and long-term success within Malaysia’s corporate ecosystem. |
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Sharing Highlights from our ESG Conference |
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Last Tuesday, we held our flagship ESG Horizons 2024 Conference—Towards a Better Tomorrow: Malaysia’s Sustainability Agenda in Driving Economic Development. The event brought together over 100 participants for insightful conversations led by ESG-driven organisations, sparking critical discussions on how sustainability transforms industries across sectors.
Hosted at EQ Hotel Kuala Lumpur—a sustainability leader in the hospitality industry, this flagship event marked a significant milestone in championing Malaysia’s sustainability agenda. |
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The Conference began with an original and captivating performance by students from Nexus International School Malaysia, setting an inspiring tone. Nik Tasha Nik Kamaruddin, BMCC Deputy Chair and Chief Brand Strategy Officer, Sunway Group Berhad, then warmly welcomed attendees with her opening remarks. We were honoured to have YB Liew Chin Tong, Deputy Minister of the Malaysian Ministry of Investment, Trade and Industry (MITI) who delivered an impactful keynote address. |
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YB Liew highlighted the importance of all aspects of ESG and reminded us to maintain balance so that we don't forget our duty to society in our pursuit of digitalisation. He also expressed his hope that the participants would depart from the conference inspired to take responsibility for championing ESG values. |
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The conference was followed by the first panel, moderated by Tay Kay Luan (FIDE FORUM). Centred on the role of sustainability in economic growth, panellists Murali Ram from Arup, Sarazif Ramli from BP, and Dr. Chen Jit Ern from Sunway University touched on topics such as decarbonisation, smart cities, water security, and the transition from oil to renewable energy.
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The second panel, moderated by Sundara Raj from PwC, focused on sustainable digital transformation. In this session, our speakers, Vinod Narayanan from AstraZeneca, Chris Farrelly from HANDD Business Solutions, Yeoh Pei Tsen from YTL Construction and Redza Imran from REDtone Digital delved into actionable sustainability strategies in healthcare, data security, construction, and telecommunication.
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The Conference also marked the launch of the Partnership for Health System Sustainability and Resilience (PHSSR) Report, a white paper on Malaysia's health systems. The report offers actionable policy recommendations for social support, workforce development and holistic care delivery.
Led by Angsana Health with partners AstraZeneca, KPMG, and Philips, this initiative reflects a shared commitment to advancing knowledge and driving evidence-based policy reforms for a more resilient and sustainable healthcare future. |
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The success of this conference could not have been made possible without our ESG Horizons Partners, BP and Sunway; Corporate Sponsor, Standard Chartered; and Supporting Partner, FIDE FORUM. We thank our speakers, moderators, and panellists for their invaluable insights as well as Nexus International School Malaysia and Milestone Entertainment for hosting booths that showcased their commitment to ESG.
We also thank you to all attendees for participating—we hope you take the lessons learned today back to your organisations and continue driving ESG principles forward.
At BMCC, we’re grateful for this opportunity to highlight the importance of meaningful sustainability and look forward to furthering ESG within our network for a better tomorrow. |
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With one event in our ESG Horizons line-up left, now's your chance to connect with industry professionals, government officials, and thought leaders and discover how to best do your part! - 26 November: Scaling Up the Carbon Neutrality Efforts with BSI
We are also delighted to support and include member events as part of ESG Horizons. - 23 and 24 November: Earth Symphony - Green Cirque Fest 2024
- 26 November: Purple Tuesday with Standard Chartered
- 3 December: GenConnect: Building Better Together
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26 November | Scaling Up the Carbon Neutrality Efforts with BSI |
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Discover in this workshop led by BSI’s Head of Sustainability how your organisation can navigate and maximise its carbon neutrality efforts.
Date: 26 November 2024 Time: 9:00 am to 1:00 pm Venue: BSI Services Malaysia Sdn Bhd
Target Audience: Senior leaders and business industry professionals; sustainability managers; Health, safety, and environmental (HSE) managers; policymakers, and government officials |
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23 and 24 November | Earth Symphony - Green Cirque Fest 2024 with Milestone Production |
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Experience the First-Ever Green Cirque Fest in Southeast Asia Championing Sustainable Development Goals
Date: 23 & 24 November 2024
Time: Saturday | 4:30 pm Sunday | 5:30 pm
Venue: Sunway Amphitheater |
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ESG Horizons is a proud supporter of Earth Symphony – Green Cirque Fest 2024, a celebration and reminder of the importance of protecting our planet.
Be inspired by breathtaking performances and witness world-renowned performers like UniCircle Flow from Japan, the UK’s contortionist Senayt Asefa, and Cirque du Soleil alumni. Through acrobatics, aerial stunts, and more, we’ll highlight the urgency of climate change while celebrating nature’s beauty.
UOB Cardmembers Exclusive Offer: 20% off when purchasing 2 tickets, and 25% off when purchasing 4 tickets, using their UOB card *terms and conditions apply |
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26 November | Purple Tuesday with Standard Chartered |
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Join this observance of Purple Tuesday, organised by our ESG Horizons corporate sponsor, Standard Chartered.
Purple Tuesday is an initiative that focuses on raising awareness about the challenges faced by disabled consumers and the need for accessible shopping and service environments. |
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It aims to educate businesses, retailers, and the public about the importance of inclusivity and disability awareness.
Supported by our DEI Network, this event will clarify how accommodating for disability has more impact than you might expect by exploring the three core Purple Pillars: People, Policy, and Placement.
Date: 26 November 2024 Time: 9:30 am to 12:30 pm Venue: Level 4, Wisma Standard Chartered, Bukit Jalil
Attire: Any shade of purple
Target audience: Diversity, Equity, & Inclusion (DE&I) advocates and professionals and policy-makers; Managers and team leaders; Business owners; and Anyone passionate about accessibility and inclusion. |
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3 December | GenConnect: Building Better Together Forum by YTL Construction |
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We are thrilled to invite you to YTL Construction’s GenConnect: Building Better Together Forum, part of YTL Group’s 70th anniversary celebration. This is a moment to reflect on their journey, legacy, and vision for building stronger connections across generations. GenConnect aims to explore inter-generational collaboration and reflects YTL's commitment to Diversity, Equity, and Inclusion (DEI). YTL's strength lies in the diverse experiences and contributions of every generation. As they celebrate their 70th year in 2025, YTL reflects on corporate values that guide them—honesty and togetherness. This forum will provide a space to blend diverse experiences, engage with thought leaders, and discover how we can navigate generational differences, embrace change, and build a more inclusive future. Let’s celebrate commitments to growth and explore how we can continue to lead in an evolving world. Event Details: Date: 3 December 2024 (Tuesday) Time: 8:30 am - 1:30 pm Venue: Bayu Ballroom, Level 6, JW Marriott Hotel Kuala Lumpur
You are welcome to bring up to three colleagues. Kindly ensure they RSVP via the form below to confirm their attendance as well. YTL has an exciting lineup of panellists and speakers from different industries, providing us with valuable insights into how different companies are managing and collaborating across multiple generations.
Register TODAY while you stay tuned for the full agenda. We look forward to having you join us for this meaningful event! |
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DEI Champions - Showcasing Workplace Heroes |
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Meet our DEI Champion who has been actively promoting and supporting DEI initiatives! |
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Meet Natasha Zulkifli, Stakeholder Director at YTL Construction and Chair of our DEI Network. A tireless advocate for diversity, equity, and inclusion, Natasha embodies what it means to be a true DEI Champion. |
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From encouraging girls and women to take up STEM to fostering a culture of belonging, Natasha and YTL Construction lead by example—implementing impactful initiatives and advocating for meaningful change. Her work continues to break barriers, create opportunities, and inspire inclusivity in the workplace and beyond.
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On top of organising valuable networking and knowledge-sharing events, we are also proud to showcase the efforts of our members who have pledged to make strides in climate action and DEI. |
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Climate Action Pledges | University of Nottingham |
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In 2022, The University of Nottingham Malaysia published a new five-year Strategic Plan. Within this plan, one of six core themes is Environmental Sustainability (ES). An ES Executive Committee, reporting directly to UNM’s Management Board, was formed in 2022 to oversee the delivery of our ES plan. |
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Their ES plan articulates an ambition to reduce greenhouse gas (GHG) emissions, and in the past year several concrete actions towards this goal. This includes a completed project to quantify UNM’s GHG emissions for the first time, using 2023 as their baseline year. UNM’s total GHG emissions for Scopes 1 and 2 are dominated by consumption of grid electricity. Further emissions were calculated for several Scope 3 categories, though further work will be needed for a comprehensive quantification of Scope 3 emissions.
A second, related project within the past 12 months has involved the campus-wide deployment of smart electricity metering, to better enable energy (and carbon) efficiency and saving interventions. UNM continues to assess options for increasing their generation and consumption of solar electric power, which will be a further important means to reduce GHG emissions. Additionally, in 2024 the first electric vehicle (EV) charging stations were installed on their campus, contributing to the infrastructure needed in Malaysia to encourage the adoption of EVs and to the reduction of transport-related GHG emissions. |
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We're proud to share ESG-related initiatives and achievements that our members have undertaken, including sustainability reports.
This commitment to generating positive outcomes is both inspiring and crucial to bettering all aspects of our daily lives and the world we live in. |
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Standard Chartered's Strengthens Governance with Key Actions and Developments |
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Standard Chartered remained vigilant in monitoring evolving trends and updates in corporate governance, paying particular attention to proposed changes from the UK Government, the Financial Reporting Council (FRC), and the Hong Kong Stock Exchange. |
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The Board made key adjustments to its committee memberships, including appointing Linda Yueh as the new Chair of the Culture and Sustainability Committee (CSC). Reports from committee chairs were a regular feature at each scheduled meeting, ensuring the Board stayed updated on critical areas of focus. Additionally, quarterly updates from Standard Chartered Bank (Hong Kong) Limited (SCBHK) and its Audit and Board Risk Committees were presented.
Board members engaged in training sessions to deepen their understanding of directors' duties and the broader governance landscape. They also reviewed the independence, performance, and re-election of non-executive directors, reaffirming their commitment to effective leadership.
The Board also addressed potential conflicts of interest arising from directors' external appointments and evaluated insights from the 2023 internal effectiveness review of the Board and its committees, using these to shape the 2024 Action Plan. Updates to the Terms of Reference for each committee were reviewed and approved where necessary.
Finally, the Board continued to strengthen connections with its subsidiaries, fostering closer collaboration at the chair, board, and committee levels. |
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Sunway Berhad's Commitment to Sustainability Governance |
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In their Sustainability Report, Sunway Group cites that strong sustainability governance enables them to integrate effective sustainability initiatives, set targets, improve their reporting, enhance relations with stakeholders and ensure accountability across the organisation. |
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GSK | Protecting Patients with Reliable Products |
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GSK recognises the importance of product quality and patient safety. They have systems in place across the company that ensure they meet the high standards they set themselves, and those that are expected of them externally.
These systems enable them to deliver a safe and reliable supply of high-quality medicines and vaccines. When issues arise, their quality systems, in line with their values-driven culture, ensure they are responded to swiftly and transparently |
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GSK is subject to frequent regulatory inspections in markets where they supply their medicines and vaccines. These inspections provide independent assurance that their development, manufacturing and distribution processes adhere to the required high-quality standards and expectations. They strive to ensure that they are inspection-ready at all times. |
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AstraZeneca's Sustainability Report | On Speak-Up Culture |
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AstraZeneca seeks to create positive societal impact and embed ethical behaviour in all business activities, markets and value chain. They promote ethical, transparent and inclusive policies internally as well as with their partners and suppliers.
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As outlined in their Code of Ethics, AstraZeneca is committed to driving the highest ethical standards. As members of the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) and the EFPIA, they adhere to their codes.
They value speaking up as part of our ethical business culture, encouraging anyone who has a concern about our ethics or conduct to report it without delay. With their AZethics platform, they are making it easier for individuals to make a report using a simple, one-step intake form and the option to remain anonymous where permitted by local law. Internally, they also encourage a culture of transparent reporting of concerns to the relevant manager, Human Resources or Compliance functions. They are committed to investigating and responding to all concerns of alleged misconduct or breaches of law or policy that are brought to their attention |
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Malaysia Aviation Group | Practicing Governance by Combating Human and Wildlife Trafficking |
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Through their governance practices, Malaysia Aviation Group (MAG) aims to create a sustainable business model that not only drives economic growth but also contributes positively to the social and environmental contexts in which they operate. |
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The aviation industry connects various parts of the world, facilitating international and domestic travel. Unfortunately, this accessibility also makes it a preferred mode of transport for traffickers to move victims across borders discreetly. The industry’s extensive network can inadvertently serve as a channel for illegal human trafficking operations if not monitored and regulated carefully.
For the aviation industry, combating human trafficking aligns with broader CSR initiatives that emphasise ethical practices and human rights. Airlines and other stakeholders in the aviation sector are increasingly recognising their role in safeguarding passengers and upholding social welfare. Taking a stand against human trafficking not only reflects ethical business practices but also supports global efforts towards social justice and human dignity.
MAG employs a large number of employees, ranging, from flight crews to ground and security personnel. Proper training in recognising and responding to potential trafficking situations is crucial. Educating our employees on signs of trafficking and appropriate intervention methods is vital for preventing such activities and ensuring passenger safety. |
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YTL Group's Commitment to Responsible Leadership and Empowering their People |
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YTL Group believes that good governance starts with integrity and ethics, which plays a vital role in integrating sustainability goals into their decision-making processes promoting transparency, managing risks and driving long-term success.
Their Board of Directors (the Board) is the highest governance body in their organisation, responsible for overseeing the conduct of our Group’s business operations and financial and sustainability performance. |
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YTL Groups’ policies in the following areas are available on their corporate website:
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YTL Construction Supports Gender Gap Surveys by LeadWomen and Asia School of Business |
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YTL Construction was recently approached by LeadWomen to support employee surveys that study the gender gap in corporate Malaysia. |
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The study is called Mind The Gap and seeks to collect sex-disaggregated data to fill this knowledge gap and supply actionable insights and drive better diversity, equity, and inclusion (DEI) practices.
The study is broken down into 2 main surveys, which can be accessed below: - HR statistics: 5 simple questions on the composition of your workforce by gender
- Employee experiences: A 15-minute individual survey on the experiences of both male and female employees
Some benefits of participating in this study: - A free organisational gender gap report: LeadWomen will compile the responses for your Employee Survey into a report and provide a free 1-hour consultation. If you are interested, they will provide you with a personalised link.
- Discounts on programmes: Should your organisation complete both surveys, LeadWomen would be happy to offer discounts to our signature programmes.
- Perks for employees: All participants who complete the Employee Survey will receive a complimentary mental health screening and discounts on childcare services by our partners.
Both surveys are completely anonymous and data is analysed without any identifying information. The information collected will be stored in the HIPPA-compliant, Qualtrics-secure database which can only be accessed by Professor Wang Yi Ren from Asia School of Business. |
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AmanahRaya-Kenedix REIT Manager | Selayang Mall's CSR Initiatives |
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At Selayang Mall, AmanahRaya-Kenedix REIT Manager (AKRM) is dedicated to fostering a resilient, inclusive community. During their recent Environment Week, we partnered with Pusat Pemulihan Dalam Komuniti (PDK) Selayang, donating RM16,000 worth of supplies to support children with special needs. This initiative reflects our commitment to empowering diverse communities.
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They also collaborated with the Forest Research Institute Malaysia (FRIM) to promote environmental awareness, offering educational programmes on forest conservation and sustainability.
Local experts shared insights on waste management, while an Animal Petting Zone, in partnership with 99 Wonderland Park, engaged families with nature. Additional activities, including eco-workshops, a Green Pledge Wall, a Treasure Hunt, and a Zumba session, further encouraged collective responsibility for the environment and each other. |
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AKRM extends their heartfelt thanks to all who participated in making this event a success. Let’s continue working together to build a greener, more inclusive future.
They invite all BMCC members and community stakeholders to join in their future CSR activities. If your organisation is interested in partnering on impactful projects like these, please reach out to them.
Visit their website here to explore more about AKRM or connect with their team on LinkedIn for more updates. |
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Clarivate Shares Sustainability Report 2023 |
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Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, published its fourth annual sustainability report, showcasing its commitment to sustainability and the United Nations Sustainable Development Goals (SDGs). |
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Clarivate joined the United Nations SDGs Publishers Compact in 2023, adding to existing commitments such as the United Nations Global Compact, the United Nations Women's Empowerment Principles, and the Science-Based Targets Initiative. Read the full report here.
Key highlights of Clarivate supporting the UN SDGs: - SDG 3: Good Health and Well-being: Clarivate supports life sciences and healthcare companies, helping 95M+ patients understand their medicines.
- SDG 4: Quality Education: Clarivate supports 130M+ students and 26K+ public and academic libraries.
- SDG 9: Industry, Innovation, and Infrastructure: Clarivate provides data and expertise to fuel innovations for sustainable industry and infrastructure, working with 46 of the top 50 R&D companies.
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Clarivate Launches New Sustainability Research Solution |
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Clarivate Analytics has launched ProQuest™ One Sustainability, a comprehensive content collection aimed at supporting sustainability-focused curricula in research, teaching, and learning. |
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Covering topics like climate change, renewable energy, and environmental justice, this new resource addresses the growing demand for sustainability education. Patti Ginnis, Vice President at Clarivate, emphasised the importance of equipping learners with the knowledge and skills to tackle urgent global challenges, stating that ProQuest One Sustainability empowers researchers, educators and students to drive meaningful societal change.
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The British and Malaysian governments continue to show great commitment to acting on ESG-related issues. As crises in climate and society continue to become a prevalent threat, it is comforting to know that all organisations have the support of the government and the public sector in making positive change. |
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IPCC Symposium in Kuala Lumpur: Bridging Climate Science and Policy to Accelerate Action |
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On behalf of the British High Commission of Kuala Lumpur, we're delighted to share the news of an Intergovernmental Panel on Climate Change (IPCC). |
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This one-day symposium, organised by the UK in Malaysia, in support of Malaysia's Ministry of Natural Resources and Environmental Sustainability, and Universiti Kebangsaan Malaysia, will feature discussions on empowering the next generation of Climate Leaders, bridging science and policy, and key sectors for climate action.
Date: 14 December 2024 (Saturday) Venue: DoubleTree by Hilton Kuala Lumpur Time: 8:30 am to 5:00 pm |
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Securities Commission: Malaysian PLCs show Progress in Adopting Corporate Governance Best Practices |
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Malaysian public-listed companies have shown progress in the adoption of the Malaysian Code of Corporate Governance (MCCG), according to the Securities Commission Malaysia’s Corporate Governance Monitor (CG Monitor) for 2024 released on 4 November.
Read the full article here. |
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We want to hear from you!
If you are a member organisation and have anything to share on how you're making a positive impact in ESG-related spaces, reach out!
Send an email to Chad@bmcc.org.my and let our network know that you are doing your part! |
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British Malaysian Chamber of Commerce Berhad 201801018075 (1280091-P) No 02-B, Menara IQ, Lot C7.11, Lingkaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur Copyright © BMCC 2024 |
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