GCMY, Capital Markets Malaysia jointly launch centre of excellence
Global Compact Network Malaysia (GCMY) and Capital Markets Malaysia have jointly launched a Centre of Excellence (COE) to drive strategic development of the sustainability agenda and accelerate the performance of corporate Malaysia.
The COE will also help support sustainable development goals (SDGs).
GCMY said the growing adoption globally of sustainable and responsible investing as an investment principle had made it imperative for listed companies to meet global sustainability standards.
Capital Markets
Malaysia, an affiliate of the Securities Commission (SC), will provide strategic support and seed funding for the COE as part of its initiative to position Malaysia as a regional centre for sustainable and responsible investments.
“The SC is committed to the development of Malaysia’s sustainable financing and investment ecosystem and will continue to encourage innovation and collaboration by the industry to advance the national sustainability agenda.
“The partnership between GCMY and Capital Markets Malaysia is a step forward to enable and accelerate private sector performance in incorporating globally recognised sustainability standards”, said SC chairman Datuk Syed Zaid Albar.
The SC said the Malaysian capital market had undertaken various initiatives to advance the country’s sustainability agenda.
These include the FTSE4Good Index, introduction of the Sustainability Reporting Framework for public-listed companies by Bursa Malaysia and, most recently, the launch of SC’s Sustainable and the Responsible Investment Roadmap for the Malaysian Capital Market.
“Investors, consumers and governments are pushing for a more transparent and responsible way of doing business and companies that embrace sustainability and contribute to achieving the SDGs stand to unlock huge market opportunities.
“Country-level initiatives by GCMY such as the COE will ensure that the Malaysian private sector is delivering on the SDGs,” said United Nations Global Compact Global operations chief Ole Lund Hansen.
He said the COE would carry out capacity-building activities to train companies on best-inclass corporate sustainability practices and conduct C-suite coaching sessions on reporting and engagement with institutional investors.