Sarawak's so-called green revolution is little more than a wolf in sheep’s clothing. Companies and the state government are operating in ways that not only devastate the environment but also marginalise remote Indigenous communities.
If policymakers and ESG proponents fail to ensure that the ESG agenda is equitable and credible – directly benefiting working class and rural communities – the credibility of ESG will deteriorate further.
The country’s recent National Baseline Assessment on Business and Human Rights report reveals an urgent need for human rights to be entrenched into Malaysia’s domestic laws.
There are growing calls for more corporate disclosure, but if firms release sustainability reports just to meet the needs of external stakeholders, including regulators, it is unlikely to motivate internal changes to business operations.