The recent launch of Star Media Group Bhd’s (SMG) latest environmental, social and governance (ESG) initiative, the ESG Positive Impact Awards, will play an important role in boosting the adoption of sustainable practices among companies, say key industry players from the business community. The awards which will be presented at a TBC glittering function in May 2023, and our CEO Zafar Anjum, MSc, MS, LLM, CFE, CII is one of the judges.
The awards aim to accelerate the #ESGmomentum and inspire greater adoption among companies to drive lasting change and positive impact for a sustainable tomorrow.
With OCBC Bank (M) Bhd as main sponsor, the awards programme by Malaysia’s leading English-language daily Star Media aims to put a spotlight on the laudable ESG practices of Malaysian companies, from small and medium enterprises to large corporations. In doing so, it seeks to inspire the business community to fully embrace the tenets behind ESG and together, achieve positive impact for a better future.
The awards have a total of 15 categories, split across the environmental, social and governance aspects. Register your interest, submissions open on October 2022.
The ESG Positive Impact Awards will boost Malaysia’s ESG journey
The ESG Awards will recognize the successes and cement the credibility of Malaysian businesses. It will encourage businesses to do better and learn from each other.
In his new year’s speech, Malaysia Prime Minister Datuk Seri Ismail Sabri vowed that the country is ready to create an ecosystem capable of generating activities and a job market with an economy and society that are ESG-friendly. He asserted that Malaysia is committed to achieving a ‘carbon neutral nation’ status in 2050.
The nation’s ambition to achieve carbon neutrality by 2050 highlights a progressive position relative to other ASEAN countries. ESG spectrum would force the companies to relook at their long-term corporate strategy, one that not just delivers a handsome profit but will also ensure the going concern of a business.
The Awards will be a welcome boost to the reputation of Malaysian companies and will inspire many more to join the trend of ESG adoption. It will become a catalyst for leadership and set trends on ESG issues for industry leaders and professionals in the ecosystem.
Star Media Group being part of FTSE4Good Bursa Malaysia Index reflects their steadfast commitment to sustainability via their continuous Economic, Environmental and Social initiatives which is ingrained in their DNA. We remain purposeful in setting forth a sustainability agenda that will expand and grow in tandem with our ambitions, hence we are committed to push forth this ESG Agenda to champion thought leadership, knowledge-sharing programmes and provide a strong platform for recognition amongst the business community whilst creating value and a positive impact to our stakeholders.
Ernst & Young is the adviser of the awards programme, while working partners include ABAC Centre of Excellence, Business Council for Sustainable Development Malaysia, Climate Governance Malaysia, Earthworm Foundation, Green Growth Asia Foundation, Institute for Democracy and Economic Affairs, Malaysia Green Building Council, Malaysian Green Tech and Climate Change Centre, Malaysian Institute of Corporate Governance, Jeffrey Sachs Centre, Sustainable Development Solutions Network, as well as Malaysian Research Accelerator for Technology and Innovation.
Register for the event
To register your interest to participate in the awards programme, visit https://staresgawards.com.my/
ISO Certification can help boost ESG Compliance
An organization’s ESG strategy can be augmented and advanced through ISO Certification and the implementation of an individual or integrated management systems. For example, a sustainable business process framework might include ISO 37001: 2016 Anti-Bribery Management System standard. This standard provides a framework for implementing reasonable and proportionate measures to prevent bribery and corruption. These measures involve top-level leadership, training, bribery risk assessment, due diligence adequacy, financial and commercial controls, reporting, audit, and investigation.
The standard also mirrors numerous steps contained in the U.S. Foreign Corrupt Practices Act (DOJ and SEC) and Good Practice Guidance on Internal Controls, Ethics and Compliance (OECD), Anti-Corruption Ethics and Compliance Handbook for Business (OECD), U.K. Bribery Act 2010 and the British Ministry of Justice’s Adequate Procedures document. ISO 37001 ABMS Standard is flexible and can be adapted to manage many types of bribery and suit any business locally or worldwide.
ISO 37001 isn’t the only standard that addresses these risks; take ISO 37301:2021 Compliance Management Systems. CMS helps organizations to comply with the legislation that is applicable to them and with the commitments assumed by their stakeholders. They reduce the economic or reputational risks of failing to comply with them and are a fundamental tool for organizations to comply with their corporate social responsibility policies. They undoubtedly help to create a culture of integrity and compliance that fosters sustained success and the organization’s survival.
One of the many benefits of ISO certification is that it is designed to fit together like a puzzle. If you are certified under, for example, ISO 37000:2021 Governance of Organizations, you will be familiar with ISO 37002:2021 Whistleblowing Management Systems.
All ISO standards have in common their ability to help organizations achieve greater profits by managing the processes.