Malaysia's high carbon dependence raises ESG risks

According to Maybank Kim Eng CEO Datin Ami Moris, (pic) about 11% of Malaysia’s gross domestic product (GDP) is reliant on extractive industries, namely, oil and gas (O&G), metals and mining as well as oil palm.

PETALING JAYA: Malaysia is highly dependent on carbon-intensive industries and this poses growing risks to the country’s aim to embrace environmental, social and corporate governance (ESG) standards.

As more international funds are factoring in sustainability and societal impact as part of their investment decisions, the government and businesses in Malaysia will need to speed up the adoption of ESG standards to appeal to global investors.