BMCC Newsletter #271 (27 September 2021) - 8th Green Edition | British Malaysian Chamber of Commerce Berhad on Glue Up

Issue #271 - 27 September 2021

Dear Subscriber,

BMCC Climate Action Pledge

The BMCC is pleased to launch the BMCC Climate Action Pledge, together with the support of the British High Commission in Kuala Lumpur, Malaysia (BHCKL), and UN Global Compact Malaysia and Brunei (UNGCMYB).

The BMCC Climate Action Pledge is started as an avenue to raise awareness about climate change and implement climate-related initiatives among organisations and businesses that have yet to commit to any climate-related goal.

Organisations that have committed to other climate goals are also welcome to sign up to this pledge and be part of this network where they can, through their leadership and experience, support other organisations in the various sectors taking their first steps in this journey.

Objectives

To raise awareness about sustainability issues within organisations and businesses that are yet to commit to a climate-related goal.
To raise industry champions that may influence and advocate for climate actions within their own sectors/supply chains and enable the establishment of sector-wide climate goals.
To encourage organisations and businesses to start embarking on the journey to establish and implement a climate-related goal, as a stepping stone to making a more ambitious long-term commitment (such as participation in the Race to Zero (RTZ) or Science-Based Targets Initiative (SBTi) campaigns.)

If your organisation would like to do some of the initiatives above, find out more and sign the pledge here.

Register Now for Malaysia Climate Action Week Events!

In the run-up to the 26th UN Climate Change Conference of the Parties (CoP26), the BMCC and the British High Commission in Kuala Lumpur, Malaysia (BHCKL) are coming back with Malaysia Climate Action Week on 25-29 October 2021!

Five days of thought-provoking webinars on key climate action themes are now open for registration. Join prominent thought and business leaders in pertinent discussions on leading-edge climate action initiatives and the much-needed transition to a zero-carbon future.

Click on the individual event links below to register:

Incorporating ESG Practices into Your Business (Monday, 25 October, 3.00pm - 4.45pm [MYT])
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 (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])

Smith+Nephew’s Penang Manufacturing Plant Achieves Zero Waste to Landfill Four Years Ahead of Target

British medical technology company, Smith+Nephew, achieves zero waste to landfill four years ahead of their corporate sustainability target even as their Penang manufacturing plant is being built. Through strategic planning, close collaboration and a deep understanding of the plant and its requirements, the Health, Safety and Environment and Facilities teams have made a positive impact to the local community by not contributing any waste to local landfills.

More about this noteworthy achievement here.

BMCC Interest Group on Green Initiatives ─ Second Meeting for 2021

After the inaugural meeting of the BMCC Interest Group on Green Initiatives in April, like-minded organisations came together once again to for our second meeting on 13 September 2021, in a meeting hosted by Jennifer Lopez, the Chief Executive Officer of the BMCC. The members shared green ideas and initiatives that they personally, as well as their organisations, have adopted over the past 18 months during the pandemic. It was a great opportunity for members to network and exchange best practices, as well as to identify areas where the Chamber could assist and provide our support to advance the sustainability agenda via our wide network of members.

The Executive Office also provided updates from the previous meeting where a survey has been developed; we welcome businesses and organisations to participate in the survey for the Chamber to gauge the readiness of businesses in adopting the sustainability agenda, as well as to identify key areas where the Chamber can advocate and support in our efforts to encourage more businesses to embark on this journey towards a net zero carbon target. For those who have yet to participate in this survey, you may do so here.

British Chambers of Commerce Event |

Leading the Way to Net Zero

Leading the way to net zero, a panel event delivered in partnership with O2, will enable participants to:

Gain a deeper understanding of net zero and the impact it will have on their business
Understand the steps they should take to realise their Net Zero ambitions and the role that technology and connectivity can play
Hear from others about their experience and learnings so far
Take away details of the tools available to them to help them on their net zero journey.

This event will provide SMEs with an understanding of the net zero economy and the steps they can take now to ensure we meet our ambitious targets.

Date: Thursday, 30 September 2021

Time: 2.00pm - 3.00pm (UK Time) / 9.00pm - 10.00pm (MYT)

Survey Finds Businesses Have Yet to Enact Environmental or Social Value strategy as COP 26 Looms

National business survey finds two thirds (64%) of businesses have no environmental sustainability policy.
Survey also finds that over 8 out of 10 businesses surveyed have no social value policy yet are aware social value has a positive impact on job creation.
7 out of 10 (69%) of respondents overall say an environmental led approach is predominantly about cutting carbon emissions.
Most respondents (82%) consider recycling and reusing items or materials to represent "environmental sustainability".

Read more here.

Take 5 |

Q&A with Ivan Tan,

Chairman of Shell Malaysia

As one of the country's top employers, leading global energy company Shell has been a partner in fueling Malaysia's progress for 130 years and continues to play a leading role in helping to develop a low-carbon energy system in Malaysia.

Ivan Tan, Chairman of Shell Malaysia talks to the BMCC about how the company is accelerating the transition of their business to net-zero emissions by 2050 in ways that are purposeful and profitable.

Read his Q&A here.

HSBC |

ESG Talent Shortage Holding Back Sustainable Investing in Asia

Over 40% of institutional investors in Asia say they are being held back from more environmental, social and governance (ESG) based investing, due to a shortage of expertise or qualified staff, according to HSBC’s Sustainable Finance and Investing Survey 2021.

The figure is up from 26% in 2020, and is now the most common reason Asian investors point to when asked what is holding their firm back from pursuing ESG investing more broadly and fully.

We also see 72% of respondents in Asia say they are paying greater attention to ESG issues compared to last year, indicating greater prioritisation among investors in the region, and showing remaining concerns about returns are diminishing quickly.

Jonathan Drew, head of ESG solutions at HSBC, said: “Let’s get behind the efforts of governments, regulators and industry associations across the region to build talent and create robust green jobs for the future.”

Read HSBC’s Sustainable Finance and Investing Survey 2021 – Asia Report here.

Malaysia Approves Domestic Carbon Trading Market

The Minister of Environment and Water Malaysia, YB Dato’ Sri Tuan Ibrahim Tuan Man released a press statement stating that the Cabinet of Malaysia has approved the development of a Guide on the International Voluntary Carbon Markets (VCM) and the proposal to develop the Domestic Emissions Trading Scheme (DETS) as part of the national carbon pricing policy, in support of the national climate change agenda. These initiatives will enhance the capacity and reputation of private and government-linked companies in adopting the Environmental, Social and Governance (ESG) approach into their core business strategies.

Media statement (BM) here.

Media statement (Unofficial English version) here.