LEARN INNOVATE ENGAGE engagement & impact
FACILITATING SUSTAINABLE TRANSITION FOR BUSINESSES
Enabling Collaborative Ecosystems for SME ESG Transition 26 November 2023 PARTNER : Alliance Bank & UN Global Compact Network Malaysia & Brunei
The SME ESG Symposium aimed to help Malaysian businesses integrate ESG practices , catering to both conventional and Islamic markets . The event featured a panel discussion with industry leaders exploring sustainability and ESG strategies , followed by breakout sessions where over 50 SMEs and experts shared insights on ESG adoption in various sectors . These discussions provided valuable knowledge to accelerate ESG journeys for local SMEs and will contribute to an upcoming research project by collaborating partners .
Panellists
• Rizal Il-Ehzan Fadil Azim ( CEO , Alliance Islamic Bank Bhd )
• Elina Jani ( Senior Director , Malaysian Green Technology and Climate Change Corporation & CEO , GreenTech Malaysia Alliances )
• Harith Ridzuan ( CEO , Green Factory )
• Mohamad Irwan Aman ( General Manager ( Sustainability ), Sarawak Energy Berhad )
• Lim Chee Yoong ( MD , Thumbprints UTD .)
• Dato ’ Lai Keng Onn ( Deputy Chairman and Group MD , KAB Group of Co .)
• Moderator : Prof . Mohan Avvari , Deputy Head of School of Business ( Engagement & Impact )
Key insights
• Businesses that successfully implemented Sustainability / ESG strategies gained advantages like cost reductions , international market access , and enhanced brand value for customers . This fosters a competitive edge driven by product quality and branding , positioning them as industry leaders .
• There are varying levels of maturity in the adoption of Sustainability / ESG practices observed across sectors and among different types of companies .
• SMEs in Malaysia ( especially family-run businesses ) have implicit ‘ social ’ aspects of sustainability agendas . They require guidance on reporting Sustainability / ESG practices .
• Challenges identified include the need for better understanding of reporting guidelines ; as no fixed approach to measurement of ESG practices .
How Southeast Asian Businesses Champion their ESG Impact 30 November - 1 December 2023 PARTNER : International Consortium for Values-based Governance ( Monash Business School ), University of Cambridge and University of Nottingham
This joint conference centred on empowering Southeast Asian businesses to lead in ESG impact . Keynote speakers highlighted the transformative power of ESG frameworks within organisations , drawing inspiration from success stories such as Patagonia and the Business Development Bank of Canada . They also delved into the global implications of the EU ’ s Corporate Sustainability Reporting Directive and stressed the need for internal transformation to embrace ESG practices effectively .
Key insights
• Prof Christopher Marquis from the University of Cambridge emphasised that adopting ESG isn ’ t just about social responsibility ; it ’ s a strategic move for future-proofing businesses , aligning internal practices , attracting talent , and meeting evolving consumer expectations .
• ESG adoption offers businesses strategic advantages , including alignment of practices , talent attraction , and meeting consumer expectations .
• Nurul Izzah Anwar emphasised the importance of local initiatives and international finance in facilitating ESG implementation in Southeast Asia .
• Panellists underscored the multifaceted nature of ESG challenges and opportunities in the SEA region , requiring comprehensive strategies and collaborations for effective integration . p 44