Some of the 150 participants at the two-day ESG Reporting and Carbon Management Workshop hosted by StarESG Academy in Petaling Jaya. — LOW LAY PHON/The Star
FAIR, accurate and transparent environmental, social and governance (ESG) reporting at the corporate level is seeing increased demand.
This follows the move by countries to accelerate their transitions to net zero, which means the balance between the amount of greenhouse gas produced and removed from the atmosphere.
Sustainability reporting becomes particularly challenging when aligning reports with both local and global regulations.
It is an even more daunting task to effectively communicate these intricacies to the relevant stakeholders in a simple and easily understandable manner.
As such, StarESG Academy hosted a two-day ESG Reporting and Carbon Management Workshop at Menara Star in Petaling Jaya, Selangor which was attended by 150 people.
It was aimed at those who wanted to learn how to craft ESG reports that comply with both local and global standards, while helping their companies transition to a carbon-neutral future.
BoardRoom Group ESG head Tina Thomas, who facilitated the event, said the workshop helped participants understand ESG concepts.
Ooi says when they started the business, there was little ESG awareness.
“ESG is becoming increasingly important because there are many elements that are getting attention such as climate change.
“ESG is going to play the role of non-financial report or non–financial performance reporting.
“We are in a very uncertain world, unsure of how things are progressing, especially regarding climate change.
“Accessing loans becomes easier when companies demonstrate ESG credibility, particularly through initiatives like sustainability agendas.
“This enables them to access preferential loan rates, specialised funding such as impact investment funds and sustainable bonds,” she said.
Leong says his company assists businesses aiming to reducing carbon emissions.
Formula Venture Sdn Bhd general manager Ooi Wei Ming said when they started the business, there was little ESG awareness but it was growing.
“I appreciate this workshop because now I can educate others on it.
“Firms which are not ESG compliant often can’t get a loan anymore, which I think is a good thing.
“The next step is to measure it, and that’s what we learned in the workshop today – understanding how to measure it.
“In Malaysia, there’s currently no carbon tax. However, if we export to Australia and Europe, where they do have a carbon tax, they’ll tax our carbon footprint.
“It might be wise for the Malaysian government to implement a carbon tax,” Ooi said.
Thomas facilitating the ESG workshop at Menara Star in Petaling Jaya.
Keysight Technologies Malaysia operation compliance programme manager and ESG programme lead Jessie Lim said her company wanted to focus on sustainability to ensure the business was resilient.
“We also want to understand the fundamentals of ESG and details on how it is being calculated and measured, so we can see the bigger picture in setting our ESG goals while being compliant to it,” said Lim.
Mentiga Corporation Bhd group general manager Sufian Jusoh said he participated in the workshop to understand ESG reporting, including its purpose.
Besroi Concrete Sdn Bhd director Chin Kwong Yue said the workshop was his first exposure to ESG, and it was informative.
Tera Va managing director Michael Leong, who had a booth at the workshop, said their company assisted businesses aiming to address electricity consumption and reduce carbon emissions.
Chin says the workshop was informative as it was his introduction to ESG.
“We typically assess the amount and manner of energy consumption, adhering to established capacity guidelines.
“Subsequently, we propose a system aimed at reducing carbon emissions.
“Our goal is to aid clients in decreasing their carbon footprint by prioritising clean energy over grid-dependent fossil fuels.
“This will also reduce the cost of production for companies,” Leong said.
