Mandatory sustainability initiative for PLC directors

Awang Adek said it is important for boards to stay on top of sustainability-related developments so that they can effectively manage sustainability risks while capitalising on new opportunities.

PETALING JAYA: Bursa Malaysia and the Securities Commission (SC) have rolled out a new mandatory onboarding programme focused on sustainability for directors of public listed companies (PLCs) on the local stock exchange.

The mandate, which will come into effect on Aug 1, requires all first-time directors of PLCs on the Main Market and ACE Market, as well as directors of listing or transfer applicants, to attend a programme called Leading for Impact (LIP) within 18 months from the date of appointment or admission.