In October 2015, Bursa Malaysia launched a new Sustainability Reporting Framework. This comprisied amendments to the listing requirements and the issuance of a sustainable reporting guide and toolkit, mandating public listed companies to include a sustainability statement in their annual reports. This will take effect in stages from 31 December 2016 to 31 December 2018 based on market capitalisation.
Bursa’s sustainability statement refers to the management of material economic, environment and social (EES) risks and opportunities of their business, and replacing the existing statement on Corporate Social Responsibility (CSR) activities.
The framework can also be used by non-PLCs and small and medium size enterprise. This year we will see the first batch of companies with market capitalization of over RM2 billion complying and reporting in accordance with the new Bursa Malaysia Sustainability Reporting Framework.
Organisations are now acknowledging that sustainable business practices are an essential part of corporate risk management and key to business performance and investability.
There is a steady growth in sustainable investments both locally and internationally and that investors are becoming concerned about sustainability issues and are beginning to appreciate the positive correlation between sustainability and environmental, social and governance (ESG) factors as well as financial performance.
Sustainability will be the new normal for organisations operating in domestic and international markets as a result of rapidly changing landscapes in legislation, investment customer preference and societal pressures.
The government has also embarked on an initiative to chart the direction of Malaysia for the next 30 years to year 2050. The Transformasi Nasional 2050 (TN50) is a continuation of Vision 2020 with the aim of bringing Malaysia to greater heights. Based on the engagements and aspirations collected thus far, one of the emerging themes of what are particularly important to Malaysians is sustainability.
With this in mind, the TN50 initiative will be expanded to support the ACCA MaSRA. The ACCA MaSRA has been a key platform to educate organisations on the growing importance of sustainability practices and benefits to business as a whole, whilst giving recognition to best practices.
This is our 14th year running the award in Malaysia. With the new Bursa’s Sustainability Reporting Framework and in light of various developments in the national and global ecosystem of sustainability, ACCA will continue to support the country’s sustainability agenda.
ACCA MaSRA 2017 will focus on the following 10 primary criteria which are in line with Bursa Malaysia Sustainability Reporting Framework and the same criteria used last year:
Deadline submission for ACCA MaSRA 2017 will be 30 September 2017.
To participate, please complete the registration form.
Vila Ganespathy, head policy and members
Telephone: +603 2289 0101
Mobile: +6012 3830940
Linda Stanley, manager of market development and planning
Telephone: +603 2289 0111
Mobile: +6012 3830755.