News & Updates

This article first appeared in The Edge Malaysia Weekly, on July 18, 2022 - July 24, 2022.
News & Updates
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June

 13  Malaysia Airlines Bhd asks all potential suppliers and vendors to comply with the company’s commitment to ESG

 14  The Ministry of Energy and Natural Resources opens applications for feed-in tariff quotas for non-solar energy, totalling 187MW for biogas, mini-hydro and biomass resources

 15  Top Glove Corp Bhd releases its sustainability policy. The policy will guide ethical and responsible sourcing and procurement for the company’s subsidiaries, joint ventures and supply chain. The company is committed to achieving net zero carbon emissions by the financial year ending Aug 31, 2025, and aims to achieve 70% traceability of the natural rubber that it sources from plantations. 

 16  • Petronas introduces a new subsidiary company, Gentari Sdn Bhd, that will accelerate the adoption and commercialisation of renewable energy, hydrogen and green mobility solutions 

• Norges Bank Investment Management, which manages Norway’s Government Pension Fund Global, places rubber glove maker Supermax Corp Bhd under observation for two years due to allegations of serious violations of human rights. The pension fund is the world’s largest sovereign wealth fund.    

 22  GSK Malaysia launches its ESG campaign called #GiveBack, focusing on the safe and responsible disposal of old and used inhalers. The campaign is held in collaboration with Big Pharmacy, which has over 50 participating outlets in Klang Valley and Seremban. During the pilot phase of the campaign, patients can drop off their used, unwanted or expired inhalers at participating pharmacies. 

 24  Sun Life Malaysia Takaful Bhd launches the Sun Life Malaysia Islamic Global Sustainable Fund, the first Shariah-compliant investment-linked takaful ESG fund. The fund is managed by Nomura Asset Management Malaysia Sdn Bhd.  

 28  • G7 leaders create an international “Climate Club” to forge cooperation on climate change and pledge to decarbonise industrial sectors. In the draft communique summary, the leaders say they would commit to a high decarbonised road sector by 2030 and a fully or predominantly decarbonised power sector by 2035. 

• FGV Holdings Bhd appoints an independent consultant to conduct a review and benchmarking of its non-executive director’s remuneration.  

 29  • The Joint Committee on Climate Change (JC3) releases the Task Force on Climate-related Financial Disclosures (TCFD) Application Guide for Malaysian Financial Institutions. It outlines key recommendations and relevant examples, guidance notes and considerations that can be used as practical resources. 

• Nomura Asset Management Malaysia Sdn Bhd launches the Global Shariah Sustainable Equity Fund. 

 30  • Japanese trading company Mitsui & Co signs a memorandum of understanding with Petronas to study the possibility of storing industrial carbon dioxide emissions off the coast of Peninsular Malaysia

• The US Supreme Court curtails the US Environmental Protection Agency’s authority to regulate carbon emissions from the power sector

July 

 1  • France bans plant-based meat from being marketed as meat by using the labels “steaks”, “bacon” or “sausages” from Oct 1 onwards 

• Ministry of Environment and Water secretary-general Datuk Seri Dr Zaini Ujang says the proposed amendment to the Environmental Quality Act 1974 (Act 127) to increase the fine on environmental criminals is in its final stage 

  • Alibaba Cloud launches Energy Expert, a sustainability platform to help businesses measure, analyse and manage carbon emissions. The platform also provides actionable insights and energy-saving recommendations.

• HSBC Amanah is providing Ikano Centres with green financing to develop Toppen Shopping Centre and IKEA Tebrau in Johor

 8  Forest monitoring initiative Rimba Disclosure Project and 53 civil society organisations issue a statement demanding more transparency on environmental impact assessments (EIA) from the Department of Environment. They call for regular updates of the online EIA database on a daily basis, guarantee that the database is comprehensive and that all first schedule and second schedule EIAs be publicly available in full, among other things. 

 

Quote of the month

“If our society descends into very, very strong conflict and strife because there is no energy, we’re certainly not going to make our [climate] goals. We’re certainly not going to get where we need to get if the lack of energy leads to strong disruption in our societies, and we need to make sure people are not in the cold in the coming winter.” 

—  Frans Timmermans, vice-president of the European Commission, told The Guardian in an interview. Europe is suffering from high energy prices due to Russia’s invasion of Ukraine.

 

Jobs

• Sustainability manager at PwC Malaysia

The manager will work with business leaders to balance competing economic, social and environmental goals

• Asia-Pacific sustainability product line manager at Cargill

The candidate will be responsible for commercial strategy for sustainability in the region

• Senior executive, sustainability management system at Sime Darby Property

The executive will support the manager of the corporate sustainability unit in sustainability performance guidance and assessment, among other things

• Sustainability programme manager at Apical 

The manager will assist the director in executing the vegetable oils processor company’s sustainability initiatives 

• Global head of corporate social responsibility (CSR) and sustainability at Agoda

The candidate will build upon the vision and strategies for the company’s CSR and sustainability agenda and identify opportunities 

• Governance data privacy and sustainability executive at edotco Group

The executive is responsible for supporting the governance team as coordinator between the corporate centre and subsidiaries on governance-related matters, including data privacy and sustainability

source: Linkedin