KUALA LUMPUR: Bursa Malaysia Bhd
(Bursa) has signed a memorandum of collaboration (MoC) with Mah Sing Group Bhd and Alliance Bank Malaysia Bhd to bring them on board as early adopters of its Centralised Sustainability Intelligence (CSI) platform.
In a statement yesterday, Bursa said the collaboration aims to expedite the adoption and integration of environmental, social and corporate governance (ESG) practices among companies, resulting in a more sustainable and resilient business ecosystem.
Additionally, it said Mah Sing and Alliance Bank also inked a MoC with the objective of building an ecosystem that sees tangible financial benefits from sustainable practices.
"The collaborations enable Mah Sing to standardise its ESG reporting while exploring further value creation opportunities throughout its supply chain.
"It will also allow Mah Sing to improve its internal operations, track, monitor and analyse its sustainability performance across both property and manufacturing business divisions," it said.
Meanwhile, the exchange said under the agreement, Alliance Bank would work with Bursa and Mah Sing, and offer four incentives to Mah Sing’s suppliers, contractors and consultants to reward them for improving their carbon footprint.
Bursa chief executive officer Datuk Muhamad Umar Swift said the MoC signed with Mah Sing yesterday marks the exchange’s third collaboration and the first for the property and manufacturing sectors, aimed at driving ESG adoption across the value chain.
"We hope this partnership with Mah Sing and Alliance Bank would accelerate the adoption of ESG practices among businesses through the facilitation of access to capital and other non-financing solutions and resources," he said.
The CSI platform was developed by Bursa Malaysia in collaboration with the London Stock Exchange Group to serve as a repository for sustainability disclosures by listed companies, as well as disclosures by local and international suppliers throughout their respective supply chains.
It will enable companies to calculate and track their carbon emissions impact while encouraging and supporting their ESG journey. - Bernama
