THE Environmental, Social and Corporate Governance (ESG) approach has emerged as the key driver for promoting sustainability, green practices, green financing and low-carbon solutions.
Recognising the significance of this paradigm shift, Malaysian Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai emphasised the pivotal role of the private sector in supporting the government’s policies and regulatory frameworks.
“While profit remains essential for businesses, we must move beyond short-term profit maximisation and embrace sustainability for long-term resilience.
“Industries can start by moving towards responsible supply chain management practices, promoting fair labour standards, and assessing their environment and community impact.
“Research, development and commercialisation should be driven by the private sector with the support from the government,” he said during the Sustainability and ESG Conference 2023 at Setia SPICE Convention Centre yesterday.
The conference featured three-panel discussions that focused on ESG and sustainability practices.
It was jointly organised by MSIA, the Malaysia Productivity Corporation (MPC), and the Electrical and Electronics Productivity Nexus (EEPN).
Malaysia Productivity Corporation deputy director Dr Mazrina Mohamed Ibramsah highlighted the country position in the World Competitiveness Ranking 2023.
“To achieve greater sustainability development, we need to strive for better results. This conference serves as a platform for Malaysia to advance its sustainability agenda,” she said.
Story by Edmund Lee
Pix by Adleena Rahayu Ahmad Radzi