By Azbariyah Aziz
In recent years, interest in sustainability has risen, partly due to the increased awareness of corporate accountability. The commitment of Malaysia to sustainability can be portrayed by an initiative undertaken in a corporate organisation. Moreover, the Malaysian regulatory body issued a new code on corporate governance in 2012 (first introduced in 2000, then revised in 2007) to increase awareness towards accountability of Malaysian listed companies. Furthermore, the Environmental, Social, and Corporate Governance (ESG) index was introduced in December 2014 with the intention to measure the performance of companies with good ESG practices that are aligned with leading global ESG frameworks.
With the introduction of Millennium Development Goals and Sustainable Development Goals in Malaysia, our government is moving ahead with the corporate awareness agenda to show a full commitment to SDGs to ensure all parties are able to execute the 17 SDGs in a more systematic and measurable manner.
Thus, the involvement of private corporations in community-based activities, specifically those involved in sustainability practice is necessary not only to create a more competitive market and improve the economic status of the needy but also to contribute to community development which may help the government in achieving the SDGs by 2030. Many private corporations have ample resources to contribute to the betterment of the community.
Sustainability practice also strengthens collaboration between the government, government-linked companies (GLCs), non-governmental organizations (NGOs), academia, and the private sector to achieve all those goals and to ensure economic sustainability in the long run.
Source / Reference