Bursa Malaysia Bhd will launch its Business Sustainability Programme soon, in a bid to engage directors of public listed companies on Malaysia‘s stock exchange in making sustainability practices a boardroom agenda.
The Business Sustainability programme will be comprised of a guide and an online portal to provide help to the board of directors of companies on sustainability practices. This all encompassing programme will leverage on sustainability tools aimed at assisting directors to embed sustainable business practices in their respective companies.
Chief regulatory officer, Selvarany Rasiah, was reported to have said that the guide will map out Bursa‘s corporate social responsibility (CSR) framework, relevant case studies and the benefits of adopting sustainability practices.
The framework is said to touch on four dimensions: work place, community, environment and market place. Sustainability practices encompasses how a company accounts for social, economical and environmental aspects. In addition to undertaking sustainability practices, companies need to report on the practices as stakeholders would want to know.
Bursa also wants Malaysian listed companies to be recipients of socially responsible investment (SRI) funds, which stands at USD9.5 trillion as at 31 Dec 2009 and is projected to grow to USD27.6 trillion by 2015.
Listed companies on the exchange are required to report on their CSR initiatives but the method of reporting is not standardised. The guide seeks to enhance the quality of sustainability reporting in the local market. The guide will explain to directors how business sustainability will lead to better management and brand protection, greater market share, improved employee retention and bottom line.
It will be supplemented with an online portal, which is updated frequently with relevant information on sustainability practices.
