Izad Kazran & Co. | IKC 律师事务所’s Post

Excited to share that we've launched our ESG Practice Group at IKC! As Malaysia pursues its net-zero ambitions by 2050 in alignment with the Paris Agreement, I'm looking forward to guide businesses through their ESG transformation journey. With mandatory ESG reporting requirements coming into effect next year for our largest listed companies, this is an opportune time to strengthen our commitment to sustainability. Proud to be part of this initiative and contribute to Malaysia's sustainable future!

KPMG's Head of Sustainability Advisory, Oy Cheng Phang, covered key grounds in this #ESG feature story with Bernama. She opined that ESG considerations should not be seen as just a compliance matter but as an indispensable facet of business management, addressing the concerns of customers, collaboration partners, regulators and investors. Read the full story: https://lnkd.in/g5YcwN5p #sustainability #ESGreporting

ESG adoption in Malaysia varies among entities, with large public companies ahead of SMEs. Some SMEs see ESG as irrelevant, while others view it as a cost burden. International supply chains are driving the need for ESG compliance. Initiatives like the i-ESG Framework and the SEDG aim to guide companies, including SMEs, in their ESG journey. The NSRF consultation seeks feedback on aligning sustainability reporting standards for consistency and reliability. #Environment #Sustainability #Governance

Mandatory ESG reporting regulations are reshaping corporate behavior in Malaysia, compelling businesses to prioritize sustainability practices. This shift not only enhances accountability but also aligns companies with global standards, fostering trust among stakeholders and potentially attracting socially conscious investors. Recognizing the challenges faced by SMEs in navigating ESG reporting, Malaysia has introduced initiatives like the Simplified ESG Disclosure Guide (SEDG) to provide tailored support. As ESG reporting requirements extend to SMEs, there is a growing emphasis on digital tools and platforms to simplify the reporting process. Platforms like ESGpedia offer user-friendly interfaces and AI-powered solutions to assist SMEs in measuring and managing their environmental impact, ensuring that businesses of all sizes can participate in the sustainability movement and remain competitive. In line with these developments, Qew Group Berhad has proactively embraced ESG initiatives to strengthen its sustainability efforts and ensure compliance with industry standards. By implementing measures outlined in the SEDG and leveraging digital platforms like ESGpedia, Qew Group Berhad aims to transparently report on its environmental, social, and governance practices, enhancing its reputation as a socially responsible organization. This commitment not only demonstrates Qew Group Berhad's dedication to corporate citizenship but also positions it as a leader in sustainability within its industry, attracting eco-conscious investors and partners while driving positive social and environmental impacts. Read more on https://lnkd.in/gwkwuD2M #PoweredByQewGroup #qewgroupberhad #LearnMoreEarnMore #seekandsecure

ESGWhoCares? 10 - The EU's 2-Year Delay: A Window of Opportunity or a Pitfall for Malaysian Companies? The EU's recent decision to delay sustainability reporting obligations for specific sectors and non-EU companies by two years has stirred the ESG community. So, what does this mean for Malaysian companies? Let's break it down. At first glance, this delay might seem like a sigh of relief. It grants more time to align practices with EU standards. But is it really a blessing? Or could it lull us into a false sense of security? Aligning with global standards is non-negotiable. For Malaysian companies eyeing the EU market or catering to EU-based clients, ESG is still the name of the game. The delay doesn't change the destination; it just gives more time for the journey. Getting a head start on ESG compliance can be a game-changer. Companies that proactively align with EU standards will stand out as sustainability leaders. This foresight can unlock new markets and attract clients who prioritize sustainability. Now is the time to double down on ESG efforts. Assess your current strategies, invest in upskilling your team, and implement robust reporting mechanisms. Waiting until the last minute could result in a frantic scramble to meet the requirements. This delay is an opportunity to fortify our ESG foundations. How is your organization planning to leverage this period to enhance your sustainability initiatives? Share your thoughts below or if you need help connect with us at Sustenyx or iklim.io #ESGWhoCares #Sustainability #ESG #MalaysianBusiness #SustainableFuture #EURegulations #CorporateResponsibility Souce: https://lnkd.in/dyGqeH7n

In Malaysia, ESG (Environmental, Social, and Governance) practices are gaining momentum across various sectors, impacting business practices, investment flows, and regulatory policies. Here’s an overview of their influence: 1. Increased Investment Appeal Companies with strong ESG credentials attract both local and foreign investments, as more investors prioritize sustainable practices. ESG-compliant businesses are viewed as lower-risk investments, especially as Malaysian financial institutions and funds, such as the Employees Provident Fund (EPF), push for ESG standards. 2. Regulatory Push Regulatory bodies like Bursa Malaysia and the Securities Commission Malaysia have introduced ESG reporting requirements for publicly listed companies. This move encourages transparency, requiring firms to disclose ESG impacts and sustainability efforts, aligning Malaysia with global standards. 3. Corporate Transparency and Governance ESG adoption has enhanced corporate governance practices, especially around transparency and accountability. This focus helps prevent corruption and poor business practices, aligning with Malaysia’s anti-corruption goals. 4. Social Impact and Inclusivity Social components of ESG encourage diversity, inclusivity, and better labor practices. Companies focus more on worker welfare, ethical labor standards, and community engagement, benefiting employees and society at large. 5. Environmental Consciousness Malaysia's ESG focus has intensified the shift toward eco-friendly practices, with companies committing to carbon reduction targets, waste management improvements, and renewable energy initiatives. These efforts support Malaysia’s goal of reaching net-zero carbon emissions by 2050. 6. Economic Transformation As the government aligns policies to support ESG-compliant industries, sectors like renewable energy, green technology, and sustainable finance are growing. This shift contributes to a broader economic transformation, positioning Malaysia as a regional ESG leader. In summary, ESG in Malaysia is reshaping investment criteria, regulatory compliance, and corporate practices, leading to sustainable economic development and a positive environmental and social impact.

Its interesting to see the different reactions to this excellent article by Vivien Ang The Business Times The event wasn't about speaking to the converted but more of addressing the myriad challenges to SMEs. By virtual of their size, MNCs have width and depth of internal resources. All MNCs depend on their SMEs so its imperative that MNCs help to nurture those SMEs that are keen and able to get on board and work on their Scope 3. It has to be more than a transactional financial relationship. Perhaps with incentive bonus points in a tender etc. Look forward to when private and public tenders include clauses that encourages carbon reporting and which filters down with MNCs 'assisting' their supporting SMEs. MNCs and even SMEs that have business dealings with the EU are likely to be those affected earlier so its a matter of time, sooner for some but eventually hard to avoid. Sad to say, there are still large numbers of 'sustainability' related events/conference that have a lot of talkers than doers with track records. Why do we celebrate talkers with aspirational goals more than real doers? Implementation is the biggest hurdle. Let's not forget, after all that has been said and done, more has been said than done. Glad to say these are doers. Envcares has a recycling rate of 80% for non domestic side stream recycling, well over the non domestic rate for Singapore. Thanks to the wonderful Zuno Carbon team and Emma Jenkins-Lee Gerard Lim Dr Allinnettes Adigue Hari Nair Justin M. #envcares #massivelyregeneratingresources #sustainability #carbon

📅 China's New ESG Guidelines: for 2025, listed companies must follow new sustainability reporting standards. 📊 Gradual Rollout also for other companies: by 2027, basic standards for corporate and climate-related disclosures; full system by 2030. ⚖️ Double Materiality: Companies will need to disclose financial and societal impacts. 🌍 Opportunities & Challenges: New rules open investment opportunities but require enhanced auditing capabilities. https://lnkd.in/eyynNgbe Rödl & Partner China Gary Zang Sebastian Wiendieck Xiaomei Fu Qing Cheng Vivian Y. Roger Haynaly Beate Kürstner-Heß

Getting started on your sustainability journey can be daunting due to the plethora of regulations, frameworks, and acronyms. But it doesn’t have to be! The first step looks different for everyone. The insights shared by the panelists and audience at our event highlighted how much progress we’ve made in recognizing the importance of weaving sustainable practices throughout your business with your goals in mind instead of worrying about which framework to comply with. Read more about it in this article by The Business Times. #sustainability #reporting #zunocarbon #motul #standardchartered #GRI

🔔 We are excited to share that The Business Times has covered our recent event, ‘Navigating ESG Reporting Complexity’. The article highlights the challenges SMEs face in their sustainability journey, the growing importance of ESG reporting for SMEs, and the need to adopt ESG practices to stay competitive. Our event brought together sustainability leaders across a variety of industries who shared their perspectives on navigating ESG reporting. The lineup included Justin M., Gerard Lim, Dr Allinnettes Adigue, our CEO and Co-founder, Hari Nair, and moderator Emma Jenkins-Lee. 🌍 Our client, Gin Keat Ong, Director of Sustainability and Business Development at Envcares, also shared his perspective in the article. He explains how companies need to fully understand what ESG reporting entails and how it affects individuals as well as the wider company. We would like to thank The Business Times for covering this important topic and shining a light on the relevance of ESG reporting for SMEs. If you would like to find out more, you can read the full article here: https://lnkd.in/gwu_Ppqm Stay tuned for more highlights and photos from our event last week! 👏 📍 Event Venue: Singapore Sustainability Academy (180 Kitchener Road) 🤝 Organized in collaboration with Spurwing Communications #ZunoCarbon #ToZeroandBeyond #SustainabilityEvent #ESGPlatform #ESGManagement #ESGSolutions #ESGReporting #ESG #Sustainability