BMCC Newsletter #350 - Green Edition #22 (25 April 2023)
Dear Subscriber, |
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Malaysia's ESG Framework Set to Launch by Year-End |
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The government plans to release the Environment, Social and Governance (ESG) framework by the end of 2023 to aid local businesses in the transition to renewable energy.
The framework will provide support to small and medium enterprises (SMEs) via funding and capacity building to assist in exporting their products.
Investment, Trade and Industry Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, stated that the framework will be crucial for SMEs to understand the transition to renewable energy and achieve Malaysia's net-zero emissions goal by 2050. He added that ESG compliance is also important for Malaysia's export markets, with many countries requesting that exporters be ESG-compliant.
MITI also recently launched an Industry ESG unit under the ministry which is tasked to launch the ESG framework, aiming to prepare Malaysian companies, particularly SMEs, to transition to ESG compliance.
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MITI expects i-ESG framework to be completed by 2024 |
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The National Environmental, Social and Governance Industry Framework (i-ESG) for the manufacturing sector is expected to be completed in 2024, the Ministry of International Trade and Industry (MITI) said.
The ministry said the framework, which would be designed in collaboration with its agencies, would encourage the manufacturing sector to adapt to ESG, comprising four key components, namely standards, financial support and incentives, capacity building, and market mechanisms, including carbon trading and carbon pricing.
Meanwhile, MITI said for the period between 2021 and September 2022, Malaysia recorded an approved investment of RM4.9 billion in green technology projects, which are expected to create nearly 1,500 job opportunities.
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Join us in Celebrating The King and The Queen Consort's Coronation: Send us Your Congratulatory Messages Now! |
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Attention all members!
The coronation of The King and The Queen Consort of the United Kingdom is fast approaching. In celebration of Their Majesties, we are gathering congratulatory messages from your organisation to be featured in our upcoming newsletter.
Type: Congratulatory message Length: 30 words limit Deadline for submission: Friday, 28 April 2023
Let's celebrate this joyous occasion by showing Their Majesties our love and support. |
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Upcoming Event | Energy Forum 2023 - Transitioning into Net Zero Carbon |
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Malaysia's commitment towards a Net Zero Carbon Economy is reinforced by the recent announcement by YB Rafizi Ramli, Minister of Economy, that Malaysia will be joining the Asia Zero Emissions Community, and the launch of the Malaysia Energy Transition Outlook.
Let's explore the very topic of energy transition, especially in Malaysia, while looking at the opportunities and technologies available in aligning with Malaysia's agenda on energy transition.
Key speakers include: - YBhg Dato’ Nor Azmie bin Diron, Secretary General, Ministry of Economy
- YBhg Dato’ Mohamad Razif bin Haji Abd Mubin, Deputy Secretary General (Energy, Environment and Climate Change), Ministry of Natural Resources, Environment and Climate Change
- Datuk Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia
- David Wallace, Deputy British High Commissioner to Malaysia
- Sean Winnett, VP of Corporate Relations Asia Pacific, Shell
Click here to register now! |
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Join Our Initiatives and Be Part of The Change! |
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The Sustainability agenda is a top priority of the Chamber as it is also the top priority of our member organisations.
BMCC Sustainability Network Led by our members, this is a platform for members to share and exchange experiences, voice challenges faced in their sustainability journey, and identify key areas that we can collectively advocate. It is through shared voice, can we collectively bridge the gap between policymakers and the industry and form public-private partnerships to advocate the agenda in Malaysia. Please contact Daniel@bmcc.org.my if you are interested to be part of the network. (Open to members only)
BHC-BMCC: Launch of UK-Malaysia Clean Growth Handbook on 9 May 2023 The launch of the UK-Malaysia Clean Growth Handbook marks a significant milestone for both nations in achieving sustainable economic growth while reducing greenhouse gas emissions and protecting the environment. The handbook showcases best practices in the UK and promotes opportunities for UK-MY collaboration in the Energy, Transport, Building & Manufacturing sectors. Join the launch event's panel and hear from our experts what the handbook entails, the opportunities and potential collaborations present in our economy, and how it can act as a tool to foster closer collaborations between Malaysia and UK companies in pursuit of clean growth. The event is by invitation only. If you are interested, contact Darshini@bmcc.org.my.
The BMCC Malaysia Climate Action Week is Happening from 23 - 27 October 2023 This 5-day thought-provoking initiative encourages and spurs deeper conversations on the impact of climate change on businesses, and how companies can adapt to be more responsible in their operations and advocate for climate action in their industries. If you are interested to be part of the BMCC Climate Action Week this year, please contact Roufizah@bmcc.org.my.
Stay tuned for more green updates! |
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Sunway Berhad | Sunway Property wins Top Sustainable Developer at GreenRE’s Sustainable Development Awards 2022/2023 |
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Congratulations to Sunway Property, the real estate arm of Sunway Bhd, for bagging the Top Sustainable Developer award at the GreenRE Sustainable Development Awards 2022/2023. |
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Malaysia Airlines | MAG announced partnership with CHOOOSE to Achieve Net-Zero Emissions by 2050 |
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Malaysia Aviation Group (MAG), the parent company of national carrier Malaysia Airlines, announced its partnership with CHOOOSE, a Norway-based climate tech company, to develop a climate software solution to support MAG’s commitment to reaching net-zero carbon emissions by 2050 in line with the MAG Sustainability Blueprint.
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EnviroSolutions & Consulting | Showcase Your Commitment to ESG |
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Looking to showcase your ESG commitment? ESC's ESG Advisory Services offer sustainable solutions to reduce carbon footprint and fulfil sustainability reporting demands. By partnering with us, you can demonstrate your leadership in sustainability, build a positive reputation with stakeholders, and gain a competitive edge.
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Stay up to date with the Chamber’s latest news and activities through this newsletter or follow us on our social media platforms. |
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