“Sustainability has become important because globally, governments are setting their emissions targets. Malaysia is talking about being carbon neutral by 2050 but a lot of our trading partners, like the European Union, for example, are talking about being net zero by 2050. Singapore and China are also setting targets. This means that the rules of engagement of trade will change. In moving forward, and moving very fast, trade will now include the element of sustainable trade,” says Faroze Nadar, (pic) executive director of United Nations Global Compact Network Malaysia and Brunei (UNGC).
OPERATING a sustainable company is increasingly becoming an imperative for future business continuity.
As economic activities progressively resume with the easing of restrictions in most countries, companies will have to gradually work their way up a new sustainable standard to participate in future trade.
