Friday 29 Mar 2024
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This article first appeared in The Edge Malaysia Weekly on October 17, 2022 - October 23, 2022

September

 5  a. The bill on climate change is expected to be finalised by the end of the year and tabled in parliament next year, says Environment and Water Minister Datuk Seri Tuan Ibrahim Tuan Man.

b. Public Bank Bhd and Sunway Integrated Properties Sdn Bhd sign a memorandum of understanding (MOU) to collaborate on property financing for green and sustainable development projects.

 6  Kenanga Investors Bhd launches the Kenanga Sustainability Series: World Quality ESG Fund.

 8  Firefly Sdn Bhd operates its first flight powered by sustainable aviation fuel.

 9  Proton Holdings Bhd sets up a new unit, Proton New Energy Technology Sdn Bhd, for the sale of smart vehicles and future energy vehicles. 

 12  a. Monetary Authority of Singapore and Singapore Exchange (SGX) Group launch ESGenome, a digital ESG disclosure portal. It will help SGX-listed companies simplify the disclosure process.

b. The United Nations Global Compact Network Malaysia and Brunei release the Malaysia Business Sustainability Pulse Report 2022, which found that about 45% of Malaysians have not allocated a budget for sustainability initiatives.

 13  a. Public Bank plans to establish a sustainability road map in the near term. It has set commitments to be carbon neutral by 2030, net zero by 2050, to mobilise RM40 billion in ESG financing by 2025 and enhance its internal credit system to classify new loans based on the Climate Change Principle-based Taxonomy.

b. The World Meteorological Organisation projects that global average temperatures will almost certainly break a record high set in 2016 in at least one of the next five years. To limit warming to 2°C, carbon reduction pledges have to be raised by four times.

 14  a. Edotco Group pledges to protect endangered birds residing in its telecommunication infrastructure.

b. The European Commission proposes a ban on products made using forced labour. 

 15  The International Renewable Energy Agency says Southeast Asian nations need to more than double their annual investment in renewables to accelerate their energy transition and meet climate goals. 

 19  a. UOB Malaysia partners with Syarikat Jaminan Pembiayaan Perniagaan Malaysia to launch the U-Green Financing programme to help small and medium-size enterprises (SMEs).

b. The government launches the National Energy Policy 2022-2040.

 20  a. CIMB Group Holdings Bhd doubles its sustainable finance commitment to RM60 billion by 2024.

b. IHH Healthcare Bhd announces commitments to cap carbon emissions from 2025 onwards and achieve carbon net zero by 2050.

c. Petronas Chemicals Group Bhd and ExxonMobil sign an MOU to assess the potential for large-scale implementation of advanced plastic recycling technology in Malaysia.

 26  Bursa Malaysia Securities Bhd announces enhanced sustainability reporting requirements.

 28  a. HSBC Amanah Malaysia Bhd develops a Triple Bottom Line Framework to classify its financing and measure its impact based on planet, people and prosperity.

b. DHL Express announces the addition of six electric vans in Malaysia.

 29  a. Heineken Malaysia’s corporate social responsibility arm, Spark Foundation, organises Flood Preparedness Training Programmes for community leaders in Taman Sri Muda, Shah Alam.

b. RHB Bank Group establishes its Board Sustainability Committee.

 

Budget 2023

ESG-related highlights

• The Securities Commission will introduce special training programmes to increase the number of women eligible to be board members in listed companies.

• RM15 billion is allocated to the Flood Mitigation Plan until 2030 as a strategy to help the country adapt to climate change.

• Government-linked companies and government-linked investment companies:

» Establish sustainability frameworks and set goals to achieve fully ESG-compliant portfolios and carbon neutral operations;

» Implement green procurement worth RM330 million and install electric vehicle (EV) infrastructure.

Incentives:

» Proposed extension of the Green Investment Tax Allowance and Green Income Tax Exemption incentive application period to Dec 31, 2025;

» Increase the guaranteed value and scope of the Green Technology Financing Scheme, especially for the EV and waste sectors;

» Bank Negara Malaysia will prepare a RM1 billion soft loan to support innovative sustainable technology start-ups and another RM1 billion to help SMEs lower their carbon footprint;

» Khazanah Nasional Bhd will prepare RM150 million to promote the development of nature-based solutions and support the development of carbon markets, including by restoring degraded forests.

EVs:

» Proposed exemption of import duties and excise duties on Complete Built-Up imported EVs until Dec 31, 2024;

» Exemption of Approved Permits for the import of EVs until Dec 31, 2023;

» EV charging equipment manufacturers are given 100% income tax exemption on statutory income from assessment year 2023 to 2032 or investment tax allowance of 100%;

» Sales rebates of up to RM4,000 to motorcycle rental companies in Pulau Tuba, Langkawi, who replace existing motorcycles with electric motorcycles.

• Smart artificial intelligence-driven reverse vending machine donors or sponsors are eligible for income tax deductions.

• RM10 million is allocated as a matching grant to help SMEs prepare carbon assessments as the government studies the feasibility of a carbon pricing mechanism. 

Biodiversity:

» Increase allocation of Ecological Fiscal Transfer for Biodiversity Conservation to RM100 million a year;

» RM36 million is set aside for the conservation programmes for tigers, elephants and other species;

» Ranger communities will be increased from 800 to 1,000. RM39 million will be dedicated to this effort;

» RM216 million will be used to improve, clean and treat rivers around the country.

• Communities:

» RM100 million is set aside for Yayasan Hasanah to implement community-based projects;

» RM20 million is given to the United Nations Development Programme and the All-Party Parliamentary Group Malaysia to increase » programmes related to the Sustainable Development Goals.

 

Jobs

Manager for certification (smallholders) programme at the Roundtable on Sustainable Palm Oil

The candidate will support the Head of Certification to ensure effective implementation of smallholder certification-related activities, among others.

Project leader (social and human rights) at the Earthworm Foundation

The candidate will be part of the Respect Program team, which focuses on ensuring the rights and wellbeing of workers and their families in supply chains. 

ESG analyst at Genting Bhd

The analyst is responsible for managing the ESG methodologies, policies and procedures of the company.

Source: LinkedIn

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