BMCC Newsletter #275 (25 October 2021) - 9th Green Edition | British Malaysian Chamber of Commerce Berhad on Glue Up

Issue #275 - 25 October 2021

Dear Subscriber,

The Malaysia Climate Action Week is Officially Launched!

It's finally here! Today marks the start of the much-awaited Malaysia Climate Action Week (MCAW) ─ five impactful days featuring six cogent climate action-themed webinars targeted at the business community, brought to you by the BMCC and the British High Commission, Kuala Lumpur (BHCKL) . This inaugural event sets the scene for the upcoming 26th UN Climate Change Conference of the Parties (COP26) in Glasgow hosted by the UK in partnership with Italy.

The global call for climate action is getting more intense by the day. Malaysian businesses, to remain competitive on an international playing field and be a relevant part of global supply chains, cannot afford to be left out of the climate action conversation.

The BMCC, through our strong connection with businesses and government agencies, is in the position to play a catalytic role in driving climate change awareness and influencing more businesses to take climate action. As Abrar A. Anwar, Chairman of the BMCC and Managing Director & Chief Executive Officer, Standard Chartered Malaysia said in his welcome remarks, "With the recent announcement by the Honourable Prime Minister during his 12th Malaysia Plan that Malaysia is aiming to be carbon neutral earliest by 2050, we believe Malaysia Climate Action Week presents an excellent opportunity to build on the momentum and to highlight climate action initiatives implemented both locally and globally."

Indeed, the BMCC and our co-organiser BHCKL firmly believe that the private sector's participation in the climate change agenda is instrumental to the transition to net zero. H.E. Charles Hay MVO, British High Commissioner to Malaysia, speaking at the launch said, "At COP26, the headline pledges on ambition are made by governments. But delivering on this ambition ─ globally as well as in Malaysia ─ will require climate action in the real economy, and that is where business comes in as the engine of change."

H.E. Charles also mentioned that the UK recently became the latest dialogue partner of ASEAN, and that climate cooperation would have a part to play in all areas of this partnership. He said, "UK capabilities in green finance and in digital, to be delivered through our new Digital Innovation Partnership, will underpin this new era of opportunity for all." At the same time, he emphasised that the UK is also working to support Malaysia's climate transition, by supporting the Malaysian Sustainable Finance Initiative and the development of DBKL's 2050 climate action plan, among others.

In his opening speech to officiate the event, guest of honour YB Dato’ Mansor Othman, Deputy Minister of Environment & Water said that "the climate change agenda will always be the country's highest priority under the current administration." He further added that "the Government encourages companies in Malaysia to adopt the aspiration of net zero GHG emissions in ensuring the sustainability of their operations."

YB Dato' Mansor also shared that some of the key Government initiatives to support the country's climate change agenda include the development of a "carbon pricing" policy and the implementation of the Domestic Emission Trading Scheme (DETS), which is a single platform for carbon credit transactions at the domestic level to "encourage industries' transition to low-carbon pathways as well as to attract more green investment."

One of the main highlights of MCAW will be the upcoming launch of the BMCC Climate Action Pledge this Thursday at 3.00pm, with the objective of motivating businesses in Malaysia to embark on a journey to establish and implement climate-related goals over the next 12 months. YB Dato' Mansor called this "an effort welcomed by the Government in line with the ‘whole of nation approach’ where the private sector can play a very important role in tackling climate change to reduce GHG emissions in their business operations." In addition, BMCC Chairman Abrar has proudly revealed that several Malaysian companies have already signed the pledge even prior to its official launch. "We are truly encouraged by the readiness of business to tackle the subject of climate action," he said.

After the launch of MCAW, we then proceeded to a panel session entitled "Incorporating ESG Practices into Your Business", which was moderated by Faroze Nadar, Executive Director, UN Global Compact Network Malaysia & Brunei and featured panellists Dato' Azmir Merican, Group Managing Director, Sime Darby Property Berhad; Datuk Kamal Khalid, Chief Corporate & Transformation Officer, Celcom Axiata Berhad; and, Raja Amir Shah Raja Azwa, Chief Executive Officer, HSBC Amanah Malaysia Berhad.

Don't miss out on more important discussions that will be taking place the whole of this week. Come join us for the following webinars ─ it is still not to late to register!

How Climate Governance is Shaping Corporations around the World (Tuesday, 26 October, 3.30pm - 4.30pm [MYT])
Accelerating Transition into Sustainable Energy (Wednesday, 27 October, 3.00pm - 4.45pm [MYT])
Creating Climate Smart Cities towards Net Zero Ambitions and the launch of the BMCC Climate Action Pledge (Thursday, 28 October, 3.00pm - 4:30pm [MYT])
Race to Net Zero Supply Chains (Friday, 29 October, 10.00am - 11.30am [MYT])
Climate Change and Food (Friday, 29 October, 3.00pm - 4.00pm [MYT])

See you there!

BMCC-Supported Event |

GO ESG ASEAN 2021 Virtual Summit

We are pleased to invite you to the annual flagship event for ASEAN corporate leaders, GO ESG ASEAN 2021 Virtual Summit, organised by UN Global Compact Network Malaysia & Brunei and supported by the British Malaysian Chamber of Commerce (BMCC).

Held on 24-25 November 2021, this Summit aims to provide deeper insights and showcase best practice actions from ASEAN and global leaders on raising SDG ambition, pathways of achieving them, and opportunities in closing the financing gap.

Seats are limited. Register here for your complimentary tickets today!

Flyer here.

BiSEA Poll |

Regional Sustainability Insights Poll 2021

Ahead of COP26, we are calling on BMCC members to answer a few high-level questions on sustainability.

Thank you for taking a few moments to complete this quick poll by Wednesday, 27 October 2021.

There are three questions on your personal opinions, and five questions on your company agenda. Not all questions are mandatory, but please respond where you can.

Flyer here.

Take 5 |

Q&A with Abrar A. Anwar,

Managing Director & Chief Executive Officer,

Standard Chartered Malaysia

As an international bank with presence in 59 markets globally, Standard Chartered is in a unique position to tackle climate change given its expertise in facilitating finance in the locations most vulnerable to, and least prepared for, climate risk. The bank is committed to reaching net zero carbon emissions from its own operations by 2030, and from its financing by 2050.

Abrar A. Anwar, Managing Director & Chief Executive Officer, Standard Chartered Malaysia shares with us Standard Chartered’s Race to Zero commitment and how banks can play a role in tackling climate change by balancing their approach to lending, as well as provide financial incentives linked to net-zero transition.

Read his Q&A here.

HSBC |

HSBC and CEO Action Network Members Push for ESG Agenda

Achieving carbon net-zero by 2050 is the greatest challenge ever faced by humanity. CEOs are pivotal in meeting this challenge by both facilitating change within their own organisations and supporting customers across industries in their transitions. This includes partnering with higher-emitting clients, to help them find a pathway to a low-carbon future.

“HSBC is honoured to be a part of the CEO Action Network (CAN) which is mobilising to support Malaysia’s ESG ambitions. CAN brings together diverse ideas and perspectives of the county's leading senior executives helping us collectively to innovate, manage risks and grow the business landscape sustainably. This is essential to drive progress across the country. By working together with policymakers and the community at large, we are focused on making change happen now, before it is too late,” said Stuart Milne, Chief Executive Officer of HSBC Malaysia.

The Star recently ran a story on CAN, featuring a number of member CEOs talking about sustainable business. Full story here.

JLL |

Survey Report: Majority of Asia Pacific Employees Unaware of Employers’ Sustainability and Carbon Reduction Commitments

JLL's recent survey, entitled "Sustainability in the built environment: An employee perspective" involving 1,200 office workers in five countries across Asia Pacific: Australia, Greater China, India, Japan and Singapore, has uncovered that unprecedentedly, employees are dominating or influencing the sustainable solutions that buildings and offices should be implementing. Read the full report here.

In addition, join JLL and experts in the industry in our upcoming webinar “The future of sustainable spaces”:

Date: Thursday, 11 November 2021

Time: 1.00pm - 2.00pm (MYT/ SGT)

In this event, we’ll look at the challenge of decarbonising buildings, and explore the obstacles we need to overcome in order to achieve better sustainability outcomes. Join forward-looking sustainability experts from across the region, who will debate the big questions and ideas shaping the future of real estate. Register here.

1) Malaysian Delegation Attending COP26 to Highlight Malaysia’s Aspirations to Achieve Net Zero GHG Emissions as Early as 2050

At the recent 2nd Malaysia Climate Change Action Council (MyCAC) meeting chaired by Prime Minister Datuk Sri Ismail Sabri Yaakob on 11 October 2021, he stated that the Malaysian Delegation to COP 26 would be led by the Ministry of Environment and Water (KASA), which has been given the mandate to deliver the National Statement at COP26. The National Statement will highlight Malaysia’s aspiration to achieve net-zero greenhouse gas (GHG) emissions as early as 2050 as well as the implementation of the Domestic Emissions Trading Scheme (DETS) by KASA, with the cooperation of the Ministry of Finance and Bursa Malaysia.