MALAYSIAN Resources Corporation Bhd (MRCB) announced its participation in the United Nations Global Compact’s (UNGC) CFO Taskforce to reinforce its commitment in pursuing the Sustainability Development Goals (SDGs).
Membership of the UN Global Compact CFO Taskforce will enable MRCB to provide an Asean perspective on developing strategies to accelerate the delivery of the SDGs within the private sector.
MRCB chief corporate officer Amarjit Chhina is the only member from Malaysia and the first in Asean to be invited to join the CFO Taskforce.
Amarjit will be working with peers from multiple global companies on a two-year programme to implement the CFO Principles on Integrated SDG Investments and Finance, and to leverage their experience and learnings with others.
The UNGC CFO Taskforce was launched to put corporate finance at the centre of the Sustainable Finance agenda.
The platform brings together a multi-sector group of corporate finance leaders in aligning their sustainability commitments with credible corporate finance strategies to unlock private capital and create real-world impact on the SDGs.
Members of the taskforce include multinational companies such as Ford, Unilever, Verizon, BASF and Tesco.
The taskforce has pinpointed four key areas that are relatively underserved but critical for promoting SDG-aligned investments — SDG impact and measurement; integrated SDG strategies and investments; integrated corporate SDG Finance; as well as integrated SDG communication and reporting.
“The funding gap to achieve the SDGs is estimated to be between US$5tril (RM20.3tril) and US$7tril (RM28.43tril) a year therefore it is undeniable the private sector will need to play a more prominent role in financing the SDGs, ” said Amarjit.
“MRCB is committed to helping realise the aspirations of the SDGs and the CFO Roundtable is a valuable platform, as it brings together a multi-sector group of corporate leaders from around the world to share their experiences, ideas and recommendations to advance the 2030 agenda.
“We are proud to represent Malaysia in this global platform, ” he added.
UN Global Compact Network Malaysia and Brunei executive director Faroze Nadar said: “We are delighted that Malaysia is now represented at the UNGC CFO Taskforce demonstrating the key role business here can and must play in the global sustainability agenda.
“CFOs are responsible for managing the financial flows of companies, making them not only knowledgeable but also influential.
“Therefore, they can be powerful agents to accelerate sustainable finance.”