CEO Action Network makes collective ESG commitments to achieve Malaysia’s net-zero future

LUMPUR: The CEO Action Network (CAN) announced its collective environmental, social, and corporate governance (ESG) commitments to be achieved by 2023, ahead of the United Nations Climate Change Conference of the Parties (COP26) in Glasgow, Scotland in November 2021.

In a statement, CAN, which is the first sustainability-focused informal coalition of leading chief executive officers (CEOs) and senior decision-makers in the country, said the commitments made during its first-anniversary event will be critical in enabling the country to achieve a netzero energy future and achieve Malaysia’s Shared Prosperity Vision by 2030.

CAN made 14 commitments to be achieved by the member organisations under three categories: environment, people, and governance: with three progressive levels of commitment for each category.

The coalition said almost all CAN members have committed to at least one set of goals, depending on the size of the organisation and their current level of progress on sustainability adoption and integration.

While others, such as newer members, are required to sign-on within the next 12 months.

Petroliam Nasional Bhd (Petronas) president and group CEO Tengku Muhammad Taufik Tengku Aziz said businesses today have no choice but to respond to the need for greater sustainability.

“This unprecedented period presents many untapped opportunities to develop and offer new solutions to the market that will contribute positively to society and the environment,” he said in conjunction with CIMB’s online held The Cooler Earth (TCE) Sustainability Summit 2021.

“Progress in this area will require collective and transformative action from all stakeholders.

“These must be actions that enable the shaping of a policydriven environment that prompts collective efforts to develop solutions towards a more sustainable future,” he said.

The CEO also said the immediate outcomes of the collective commitments should lead the way in orchestrated action towards positive change.

Meanwhile, CIMB Group head of group sustainability and CAN chair of the working group Luanne Sieh said the collective commitments have been designed to challenge CAN members at various levels of sustainability maturity to commit to the next step of sustainability progress.

“CAN’s working group is collaborating with members and partners to curate content and plan activities that will help member organisations build their knowledge, capacity and skills to move to advanced levels of sustainability adoption and integration,” she said.

The formation of CAN was first mooted at the 2019 Cooler Earth Summit and subsequently formalised in 2020.