KUALA LUMPUR: Budget 2025’s allocation for environment and sustainability will focus on transitioning our cities into eco-cities, says Nik Nazmi Nik Ahmad.
The Natural Resources and Environmental Sustainability Minister said this transition to low-carbon cities would allow more private businesses to adopt and implement sustainability practices.
“We need the private sector to be part of the sustainability push.
“Because micro, small and medium enterprises (MSME) are usually part of larger supply chains, the wider private sector and industry bodies must provide leadership and advocacy in their sustainability transition.
“Large corporations must also implement ESG practices throughout their business instead of just using it as a marketing gimmick,” he said in a press conference here on Thursday (Sep 26).
Nik said the government would consider providing more free or low-cost platforms for MSMEs to encourage ESG adoption.
“The corporate world, government, and civil society must work together to ensure that ESG principles become part of our business culture.
“It may be difficult, but we will lose if our environment is devastated and Malaysia gets left behind economically because we cannot get a grip on ESG,” he said in his speech at the ESG and Brands Forum 2024 on Thursday (Sep 26).
Nik also said that his ministry was also looking to allocate the funds from environmental crime fines to the Environment Department (DOE)
“The hope is to have at least a portion of the environmental fines issued by the DOE be transferred back to the department.
“I plan to bring up this topic with the Cabinet sometime before Budget 2025,” Nik said.
