KUALA LUMPUR: Bursa Malaysia has made it mandatory for listed companies to report on a corporate social responsibility (CSR) programme starting next year, said International Trade and Industry Ministry secretary-general Datuk Isham Ishak.
“We have used a business matching programme to start the partnership,” he said at the launch of Kind Malaysia 2018.
The local bourse had previously introduced the New Sustainability Framework targeted towards private limited companies (PLC) back in 2017.
The framework, which encapsulated about RM2bil PLCs in market capitilisation, aims to enhance corporate transparency on environmental, social and corporate governance-related issues among companies in Malaysia.
The move to make CSR programmes mandatory would help enhance a company’s annual report and demonstrate market leadership.
Kind Malaysia 2018 is a first-time initiative and concentrates on the theme “Partnership for Humanity” to introduce non-governmental bodies (NGOs) to potential business partners.
A total of 57 exhibitors from various NGO sectors including children, community, disabilities, special needs, disaster relief, education, environment, health, support groups, women and youth from five states will participate in Kind Malaysia.
“We have given the companies an idea of the CSR programmes,” Isham said.
“What we want to do is bring together companies with no implemented CSR programmes and NGOs here to collaborate and share ideas for activities.”
He found that NGOs who operate on their own were, “less effective than if they had a company backing their cause.”
“If we could pair them up under a single roof like how Kind Malaysia has strived to, we can place them under one movement to advance the CSR ideology to many more companies.”
The pairing of NGOs with companies would bring benefits on the investment front, as corporate responsibility is the best strategy to gauge where a company stands in comparison to its competitors, to measure the effectiveness of its management and to understand the attitude of stakeholders towards it.
“It would benefit both parties,” Isham said.
Kind Malaysia 2018 aims to raise social conscience and connect company leaders with those who are committed to understanding and addressing a range of social issues.
The programme will be held on Oct 24-25 at Malaysia International Trade and Exhibition Centre (Mitec) in partnership with Star Media Group. Free workshops and seminars will take place at the event including discussions led by the Malaysia International Search and Rescue team and the National Council for the Blind Malaysia.
Entry to the exhibition is free and open to public. For more information, visit www.kindmalaysia.com.
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