ALTHEA ESG PORTAL by Adilah Mustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u Welcome to ALTHEA ESG PORTAL! This portal will be the main focus for Althea's GEES and intern. We will update this playbook from time to time. Accordingly, we hope this portal will keep the Althea team posted on local and global ESG-related events and news. en-us 2023-08-14 01:44:54 UTC 2023-10-20 06:06:51 UTC hello@padlet.com https://logodownload.org/wp-content/uploads/2018/06/petronas-logo-0.png [Aug 01, 2023] ESG to Drive Demand for Carbon Credits adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2661590008
  • The demand for carbon credits in Malaysia will likely increase due to the need to meet ESG compliance.
  • Malaysia currently does not have a carbon compliance market. Still, introducing a voluntary carbon market (VCM) through the Bursa Carbon Exchange (BCX) could lead to domestic project development and spur demand for carbon credits.
  • The participation of 15 local buyers in transactions involving 150,000 carbon credits indicates a growing eagerness for ESG compliance in Malaysia.
  • A RM10 million seed fund has been announced to foster the generation of domestic carbon credits, which is expected to increase the supply of Malaysian carbon credits.
  • A supportive regulatory framework, including incentives for adopting green practices and emissions reductions, is necessary to drive demand for carbon credits.
  • Malaysia has yet to introduce carbon pricing tools like a carbon tax or emissions trading system to incentivise businesses to lower and offset emissions.
  • Bursa Malaysia plans to launch its carbon trading platform in the second half of 2023 to facilitate the trading of carbon credits.
    • ]]>     2023-08-14 15:25:40 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2661590008     [Jun 23, 2021] Shell Accelerates Sustainable Initiatives adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663005076
  • Shell's Renewable Energy Initiatives: Royal Dutch Shell has invested in clean energy technologies and companies to diversify its energy portfolio.
  • Battery Site Management: Shell subsidiary Lime Jump manages a significant battery site in England that provides electricity when renewable electricity generation is affected by low wind or clouds.
  • Investments in Clean Energy Companies: Shell has invested in green companies like Sonnen, a German battery supplier.
  • EV Charging Networks: Shell is working on establishing EV charging networks worldwide.
  • Hydrogen Fueling Centers: The company supports hydrogen fueling centres in California.
  • Leadership in Renewable and Clean Energy: Shell's executive vice president for renewables and energy solutions, Elisabeth Brinton, underscores the company's commitment to thinking ahead and anticipating the future direction of energy.
  • Global Movement toward Sustainability: Shell's initiatives and the court ruling highlight the increasing global movement toward sustainable energy practices and the growing influence of environmental considerations on the energy sector.
    • ]]>     2023-08-16 02:48:33 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663005076     [Feb 14, 2022] Workers Sue Dyson on Allegations of Forced Labour in Malaysian Supplier adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663033856
  • Migrant workers from Nepal and Bangladesh are suing Dyson over claims of forced labour and unsafe working conditions at a supplier factory in Malaysia.
  • The case highlights limitations in social audits, which involve periodic inspections of working conditions. Advocates and experienced firms express doubts about the ability of standard audits to identify and address forced labour and human rights violations.
  • Methodological challenges exist in assessing indicators of forced labour, such as recruitment fees and costs for migrant workers. Social audits are not specifically designed to uncover such violations.
  • Despite limitations, many companies rely heavily on social audits and certifications to ensure that suppliers adhere to ethical codes of conduct.
  • There is a need for greater transparency in audits and certifications and a demand for auditing firms and their clients to acknowledge current practices' limitations and address the pressing issue of forced labour and other abuses in supply chains.
  • The case underscores the growing realisation that more comprehensive and effective measures are necessary to prevent forced labour and related violations in global supply chains.
    • ]]>     2023-08-16 03:20:41 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663033856     [Aug 9, 2023] ESRS 🤝 ISSB: Sustainability Reporting Standards Combo nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663200419 Climate-related disclosure standards (as of the past weeks): 
    1. The International Sustainability Standards Board (ISSB) released their inaugural global sustainability disclosure standards.
    2. The European Commission adopted its first set of European Sustainability Reporting Standards (ESRS).
    3. UK announced plans to develop its own Sustainability Disclosure Standards (SDS) based on the ISSB standards.

    The article summarises the implications of the ISSB and the ESRS standards:
    1. Both ESRS and ISSB standards apply a value-chain approach to sustainability disclosures. 
    2. The new standards seek to support the European Green Deal by making available data under a new reporting framework, the Corporate Sustainability Reporting Directive (CSRD).
    3. The new disclosure rules define what qualitative and quantitative information companies should make available, demanding transparency around sustainability targets and metrics and accountability for sustainability governance, business strategy and sustainability.
    4. First disclosures under the European Union's Corporate Sustainability Reporting Directive (CSRD) applying the new ESRS will have to be ready for the financial year 2024 in the reporting year 2025.
    5. Priorities: 
        a. Strengthen sustainability governance: Disclosures around procedures, controls, and practices for overseeing and managing sustainability matters are central to ESRS and the ISSB’s standards.
        b. Determine materiality: The information disclosed is based on a company’s materiality assessment under ESRS and the ISSB’s standards.
        c. Embed sustainability in business strategy: ESRS and International Financial Reporting Standards (IFRS) S1 emphasise the importance of connectivity between sustainability disclosures and financial statements and require integrating sustainability disclosures in financial reports.
    ]]>     2023-08-16 06:40:46 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663200419     [Aug 16, 2023] Bhutan Becomes the Country with Net Zero Carbon Emissions nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663210572
  • Bhutan, a landlocked country in the Eastern Himalayas bordered by China to the north and India to the south, prioritises sustainable organic farming and forestry practices, accentuated by the reliance on hydropower and the prudent management of its main economic driver, tourism. 
  • Bhutan charges tourists a $200 (RM928) sustainable development fee per day, underscoring the value placed on eco-tourism and environmental protection.
    • ]]>     2023-08-16 06:49:23 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663210572     List of global ESG-related events rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663263769 2023-08-16 07:47:50 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663263769 List of local ESG-related events rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663266327 2023-08-16 07:51:23 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663266327 [Jan 5, 2023] White Paper: The “No-Excuse” Framework to Accelerate the Path to Net-Zero Manufacturing and Value Chains nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663280827
  • The World Economic Forum launched the Industry Net Zero Accelerator initiative. 
  • This White Paper proposes a framework based on 10 action pillars to help shape strategic engagement with supply chain and operating officers and encourage business collaboration in achieving net zero. 
  • The paper highlights real-world examples of collaborative initiatives and strategies.
    • ]]>     2023-08-16 08:11:49 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2663280827     [Aug 16, 2023] Updates to the GHG Protocol Corporate Standard and Guidance: Public Inputs nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664006243 The GHG Protocol conducted public input on standards and guidance documents, reviewing key themes from stakeholders on the Scope 2 Guidance.

    The GHG Protocol, co-convened by World Resources Institute (WRI) and World Business Center for Sustainable Development (WBCSD), is set to release revised text in 2024 and final standards and guidance in 2025.

    Stakeholders have submitted critical points that they have requested to be shared publicly, including:
    1. Update terminology used in the Corporate Standard to align with widely applied accounting frameworks.
    2. Entities must report an entire Scope 3 category or select activities within the category when optionally reporting GHG emissions under the Corporate Standard.
    3. Perform a risk assessment to assess the impact of double-claiming Scope 3 emissions among value chain entities, and if found a material risk, a cross-sector expert group is convened.
    4. Clarify the Corporate Standard definition of “operational control” to encourage greater consistency in reporting climate goals and targets.
    5. Provide more precise guidance in the Corporate Standard on selecting a base year and base-year emissions profile.
    6. Require robust disclosures about material changes between current and prior year periods to ensure that companies provide meaningful information about emissions over time.
    ]]>     2023-08-17 01:34:44 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664006243     [Jun 26, 2023] PM rolls out nation’s energy transition roadmap. adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664172528
  • National Energy Transition Roadmap (NETR) and Hydrogen Economy and Technology Roadmap (HETR): Launched in Malaysia to achieve long-term energy security while considering environmental and economic sustainability.
  • NETR's Strategy and Initiatives: Outlines a comprehensive strategy and impactful initiatives.
  • Hydrogen Economy and Technology Roadmap (HETR): Complements NETR by facilitating environmentally sustainable, long-term energy security through technological innovation.
  • Climate Targets and NDC: Malaysia has revised its Nationally Determined Contribution (NDC) to reduce greenhouse gas emissions intensity by 45% by 2030 compared to 2005.
  • Electricity Interconnection and Integration: Interconnected electricity systems and renewable energy sharing are vital for meeting ASEAN's climate goals and sustainable development.
  • Clean Energy Investment Challenges: Developing economies face higher capital costs for clean energy projects due to perceived macroeconomic risks and limited capital markets. 
  • Malaysia's Role: Malaysia aims to collaborate with neighbouring countries to strengthen interconnection and facilitate renewable energy sharing.
    • ]]>     2023-08-17 04:01:59 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664172528     [Aug 8, 2023] Supply Chain Human Rights Issues A Huge Challenge for CEOs adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664177128
  • The Supply Chain Barometer report from Proxima highlights that many mid-sized companies are worried about human rights abuses and labour exploitation in their supply chains. 
  • The report surveyed 2,000 CEOs of UK and US businesses with at least 50 employees. Nearly 70% of these CEOs expressed concerns about potential human and labour rights issues within their supplier networks. This concern is even higher among retail bosses at 79%, possibly due to increased scrutiny on the fashion industry.
  • Mid-sized companies need to be more informed about the ethical conditions of their supply chains. 
  • The report emphasizes that this interconnectedness of supply chains means these concerns should be shared collectively across the global business community. 
  • The survey results come as allegations of human rights violations and labour issues have affected high-profile brands, especially in consumer-packaged goods and automotive sectors.
  • The report suggests that finance professionals, alongside procurement teams, play a crucial role in addressing these challenges. 
  • The report concludes that data and transparency are vital to running successful and responsible businesses, and tools and initiatives are available to address these concerns and improve supply chain ethics.
    • ]]>     2023-08-17 04:05:35 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664177128     [Aug 15, 2023] First Solar reports forced labour in supply chain adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664341969
  • First Solar acknowledged forced labour among migrant workers employed as janitorial and security staff in Malaysia.
  • Four subcontractors were involved in exploitative practices such as charging workers recruitment fees, withholding pay, and confiscating passports.
  • First Solar is mandating improving working conditions, conducting periodic reviews, and limiting work hours to 60 per week, with at least one day off for workers.
  • The company's onsite service providers have returned passports and wage detentions, updated policies to prevent future fees, and initiated a reimbursement plan according to Responsible Business Alliance (RBA) guidelines.
  • The incident underscores the growing emphasis on transparency in U.S. supply chains, fueled by legislation like the Uyghur Forced Labor Prevention Act (UFLPA) and trade duties, aiming to prevent unethical labour practices.
  • The finding highlights the need for vigilance regarding labour practices in regions like Xinjiang and throughout the entire supply chain, from raw materials to finished products.

    • ]]>     2023-08-17 06:46:20 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2664341969     [Aug 13, 2023] Colorado’s Next Big Climate Solution is Reducing Industry Emissions nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2665630733
  • Colorado pioneered clean energy policies, limiting methane pollution, setting clean hydrogen standards, and expanding geothermal energy generation through regulations, grants, and consumer education.
  • It is introducing GEMM 2 rules (Greenhouse Gas Emissions and Energy Management for Manufacturing Phase 2) to regulate GHG emissions from major industrial facilities, aiming to set a new policy precedent.
  • GEMM 2 aims to reduce emissions of 18 industrial facilities, including Suncor Energy, Molson Coors, and Microchip Technology, by 20% by 2030.
    • ]]>     2023-08-18 08:03:00 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2665630733     [Aug 10, 2023] 20 Biggest GHG Emitters in the World nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2665677886 Atmospheric CO2 rise (1880-2010)
    1. People's Republic of China (coal and cement only) (government-owned company): 8.683 ppm 
    2. Former Soviet Union (government-owned company): 7.053 ppm 
    3. Saudi Aramco, Saudi Arabia: 3.191 ppm
    4. Chevron Corp., United States: 2.932 ppm 
    5. ExxonMobil Corp., USA: 2.747 ppm 
    6. BP, United Kingdom: 2.161 ppm 
    7. Gazprom, Russia: 2.13 ppm 
    8. National Iranian Oil Co., (NIOC), Iran: 1.897 ppm
    9. Royal Dutch Shell, PLC, The Netherlands: 1.85 ppm
    10. Poland (government-owned company): 1.568 ppm 
    11. Pemex (Petróleos Mexicanos), Mexico: 1.353 ppm
    12. Petróleos de Venezuela SA, Venezuela: 1.107 ppm
    13. Coal India Ltd., India: 1.095 ppm
    14. ConocoPhillips, United States: 1.018
    15. British Coal Corp., United Kingdom: 1.01 ppm 
    16. Peabody Energy, United States: 0.847 ppm 
    17. Russian Federation (excluding the Former Soviet Union) (government-owned company): 0.837 ppm 
    18. PetroChina, China: 0.783 ppm
    19. Total SA, France: 0.78 ppm 
    20. Kuwait Petroleum Corp., Kuwait: 0.717 ppm
    ]]>     2023-08-18 09:38:01 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2665677886     [Aug 29, 2023] Malaysia's National Energy Transition Roadmap (NETR) Part 2: Energising the Nation, Powering our Future nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2685999287 Six Energy Transition Levers for economic opportunities and environmental impact reduction:
    1. The most crucial lever is Energy Efficiency (EE) due to cost-effectiveness and resource optimisation promotion.
    2. Renewable Energy (RE) provides diversification from traditional fossil fuels with sustainable energy sources.
    3. Hydrogen is recognised for its potential as a clean energy carrier, especially in transportation.
    4. Bioenergy lever utilises Malaysia's abundant biomass resources, offering economic value and cleaner energy.
    5. Green mobility lever targets transportation emissions aligned with urbanisation trends.
    6. Carbon Capture, Utilisation, and Storage (CCUS) tackles hard-to-abate industrial emissions, potentially repurposing Malaysia's petroleum facilities.
    ]]>     2023-09-06 03:59:52 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2685999287     [Sep 18, 2023] Human rights in Russia have ‘significantly deteriorated’, says UN expert adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2712025520
  • The human rights situation in Russia has worsened since it invaded Ukraine in February of the previous year.
  • The report alleges that Russian authorities have conducted mass arbitrary arrests of critics of the war, and those detained are at risk of death due to torture and ill-treatment.
  • This is the first time the UN Human Rights Council has been mandated to examine the record of one of its "P5" members, which hold permanent seats on the Security Council.
  • Moscow has denied allegations of targeting civilians in Ukraine and has described its actions as a "special military operation" to destroy military infrastructure.
  • The report documents legislative restrictions that silence civil society and punish human rights activists who oppose the war.
  • The enforcement of these laws and regulations has resulted in a systematic crackdown on civil society organisations and independent media, closing civic space.
    • ]]>     2023-09-20 03:42:05 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2712025520     [Sep 17, 2023] Malaysia penalises 400 companies so far this year for violating labour laws adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2712034699
  • As reported by Bernama, Malaysia has taken action against 400 companies in a single year for violating labour laws.
  • The Ministry of Human Resources in Malaysia imposed fines totalling 2.17 million ringgit ($463,000) on 272 employers, and the courts fined 128 employers a combined 242,000 ringgit ($51,700) due to labour law violations.
  • The labour violations primarily involved illegal wage deductions, according to Human Resources Minister V Sivakumar.
  • The report did not provide specific company names and detailed information about the labour offences.
  • Malaysian companies have recently faced bans from the United States due to allegations of abuses against migrant workers in manufacturing and plantation industries. These allegations include forced labour practices like debt bondage, long working hours, passport retention, and unhygienic living conditions.
  • Malaysia has set a goal to eliminate forced labour practices by 2030.

    • ]]>     2023-09-20 03:46:52 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2712034699     [Sep 9, 2023] There should be no double standards with human rights, says Anwar at Asean Summit adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2712040682
  • Datuk Seri Anwar Ibrahim emphasised the importance of not having double standards in addressing conflicts and advocating for human rights, particularly concerning Palestinians.
  • He urged dialogue partners to reject Islamophobia and not remain silent on the rights of Palestinians while addressing other conflicts.
  • He conveyed a similar message to the United Nations secretary-general, Antonio Guterres, and would continue to raise the issue on the global stage.
  • He highlighted that Malaysia and Turkey would organise an event in New York to raise awareness about racial extremism and religious prejudice, particularly Islamophobia.
  • Anwar discussed Malaysia's upcoming chairmanship of ASEAN in 2025, following Laos. He mentioned that preparations for this role would be discussed in a future Cabinet meeting, involving various ministries and focusing on maintaining the principles of centrality and neutrality.
    • ]]>     2023-09-20 03:51:44 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2712040682     [Sep 19, 2023] Climate and nature action are inseparable and face the same urgent timeline nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2722339203
  • The Taskforce on Nature-Related Financial Disclosures (TNFD) harnesses framework design and stakeholder engagement synergies to avoid repetition and maximize the prospects of achieving integrated climate-nature disclosures. 
  • When we compare the most recent version of the two frameworks, much of the Task Force on Climate-Related Financial Disclosures (TCFD)'s framing has been left intact. 
    • ]]>     2023-09-27 02:58:40 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2722339203     [Oct 4, 2023] Malaysia launches its National Industry ESG (iESG) Framework nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734815133
  • The i-ESG Framework is a crucial enabler for the Push for Net Zero mission, one of four missions of the recently launched New Industrial Master Plan 2030 (NIMP 2030).
  • The i-ESG’s overarching objective is accelerating the transition towards sustainable practices among manufacturing companies.
  • There are four pillars - standards, financing, capacity building, and market mechanism - as well as 17 strategies, 50 deliverables and six key enablers. 
  • The framework aims to provide guidance and drive the manufacturing sector, especially for micro, small, and medium enterprises (MSMEs), towards ESG compliance.
  • The iESG Framework is set to help Malaysia achieve its sustainability and net zero aspiration goals within seven years or less. 
  • It will also potentially lead the way to tap into a US$ 12 trillion (RM56.5 trillion) ESG-focused global market.
    • ]]>     2023-10-06 01:48:11 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734815133     [Oct 6, 2023] Bursa Malaysia launches handbook to boost carbon market in Malaysia rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734831290
  • VCM Handbook Launch: Bursa Malaysia introduced a national voluntary carbon market (VCM) handbook to guide local stakeholders in generating carbon credits that adhere to international standards recognised by the Bursa Carbon Exchange.
  • Role Definition: The handbook defines the roles and functions of critical entities in Malaysia's carbon market, serving as a reference for market participants.
  • Global Significance: Bursa Malaysia's CEO emphasised the global importance of carbon offsets and markets, emphasising Malaysia's need to develop its VCM ecosystem and implement high-quality carbon projects.
  • Nature-Based Solutions (NbS): The article highlights the significance of NbS in mitigating climate change and mentions that the VCM will help mobilise public sector finance for NbS, particularly in the Global South.
  • Policy Developments: The National Carbon Policy is expected to be implemented soon, guiding carbon trading at the state level, and state governments are in discussions to align carbon policies related to forest carbon assets.
    • ]]>     2023-10-06 02:01:55 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734831290     [Oct 5, 2023] Scientist calls record global heat in September ‘gobsmackingly bananas’ rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734908953
  • Record-Hot September: Data from the EU's Copernicus Climate Change Service reveals that September 2023 was the hottest September ever recorded.
  • Hottest Year in Recorded History: September 2023 is on track to become the hottest year ever recorded. The month was 0.93 degrees Celsius hotter than the 1991-2020 average and 1.75 degrees Celsius hotter than the pre-industrial September average.
  • Paris Climate Agreement Threshold Exceeded: September's temperatures exceeded the 1.5 degrees Celsius threshold set by the Paris Climate Agreement as a limit for global warming. 
  • Consequences of Extreme Heat: The article highlights the consequences of extreme heat, including flooding in Libya and parts of Europe, an unprecedented wildfire season in Canada, record-breaking heat in South America, and severe rainfall in New York. Ocean temperatures were also exceptionally high, and Antarctic sea ice reached record lows.
  • Climate Change and Fossil Fuels: Climate scientists stress the urgency of transitioning away from fossil fuels to mitigate the impacts of climate change.
    • ]]>     2023-10-06 03:00:18 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734908953     [Oct 2, 2023] Tengku Zafrul: iESG framework can lead to global US$12t market opportunities for Malaysia rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734917940
  • Malaysia has launched the Industry Environmental, Social, and Governance (iESG) Framework to help achieve sustainability and net-zero goals within seven years.
  • It will be implemented in two phases: Phase 1.0 from 2024 to 2026 and Phase 2.0 from 2027 to 2030.
  • Phase 1.0 focuses on the "Just Transition" principle, considering local businesses, especially MSMEs, need time to meet ESG standards.
    • ]]>     2023-10-06 03:05:20 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734917940     [Oct 2, 2023] 'Greenlash' fuels fears for Europe's environmental ambitions rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734932358
  • Growing Resistance to Green Agenda: Europe is facing a "greenlash," driven by concerns about the cost of living crisis as policymakers implement measures beyond power generation, affecting areas like buildings and transport.
  • Challenges in Passing Green Laws: It is getting harder to pass green laws as politicians tap into concerns about the expense of green policies. Some EU governments are resisting emissions limits for cars, seeking to weaken pollution controls for livestock farms, and opposing energy efficiency measures for buildings.
  • UK's Changing Green Policies: The UK is criticised for not doing enough to meet its net-zero target 2050. Rule changes have hampered progress in onshore and offshore wind projects, causing some developers to express concerns about investing in the sector.
  • Political Challenges: Green policy disputes have boosted right-wing populist parties in Dutch and German polls, highlighting the need for politicians to show that the green transition is and offers support to those in need. 
    • ]]>     2023-10-06 03:16:44 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2734932358     [Oct 9, 2023] MIDA Launches New Funds to Drive Automation, Digitalisation, and Sustainable ESG Practices nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2738985615
  • Malaysian Investment Development Authority (MIDA) has launched new funding facilitation initiatives to stimulate Malaysia's industrial growth and promote economic development.
  • The initiatives include the Domestic Investment Accelerator Fund (DIAF), the MADANI Smart Automation Grant (SAG MADANI), and the Foreign Investment Accelerator Fund (FIAF).
  • DIAF and SAG MADANI are strategically designed to provide tailored solutions for local manufacturers and service providers.
  • FIAF is designed for Malaysian multinational companies to facilitate R&D and training transfer in the high-technology sector.
    • ]]>     2023-10-10 01:12:36 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2738985615     [Aug 26, 2023] Maybank Introduces Values-based myimpact Credit Card nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739013995
  • Maybank's Sustainability Initiative: Maybank introduced the "myimpact" credit card to empower customers to make more sustainable life choices. The credit card is made from bio-sourced polylactic acid and includes unique features to promote sustainability.
  • Carbon Footprint Tracking: The myimpact credit card allows cardholders to track their carbon footprints and understand the environmental impact of their spending. 
  • Rewards for Sustainable Choices: Cardholders are rewarded for making sustainable lifestyle choices and eco-purchases. Thus, it encourages customers to opt for environmentally friendly options in their spending habits.
  • Carbon Offsets: The credit card allows cardholders to offset their carbon footprints by contributing to various regional reforestation activities, hence supporting environmental preservation.
    • ]]>     2023-10-10 01:31:09 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739013995     [Aug 9, 2023] Empowering Sustainable Progress: Malaysia’s Journey in Sustainability Reporting adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739015603 This news mentioned some overviews of sustainability reporting and Bursa Malaysia's Stricter Standards and Alignment with Global Practices as part of the introductions.

    Challenges Faced by Malaysian Companies:
    1. Many companies need help with awareness and understanding of sustainability reporting and familiarity with sustainability frameworks and requirements.
    2. Overcoming this requires training, dedicated sustainability committees, and external guidance.
    3. The lack of systematic data collection hampers sustainability reporting. Thus, companies can adopt big data analytics and AI to manage and measure sustainability performance.

    Importance of Embracing Sustainability Reporting:
    1. The adoption of sustainability reporting demonstrates a commitment to responsible practices.
    2. Enhances transparency and aligns with global trends toward sustainability.
    3. Encourages Malaysian companies to embrace sustainability reporting for sustainable growth fully.
    ]]>     2023-10-10 01:32:18 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739015603     [Aug 10,2023] SunCon set to gain from sustainable energy segment adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739018262 Overall, the paragraph highlights Sunway Construction Group Bhd (SunCon)'s projected earnings growth driven by ongoing and new projects, especially in the sustainable energy sector, and the potential impact of critical projects like the data centre and power plant developments. 

    1. Sustainable Energy Segment: About 7% of SunCon's total order book (RM420 million) is related to projects in the sustainable energy segment, including a 50MW solar power plant construction in Perak for Gopeng Bhd. 
    2. Song Hau 2 Power Plant Project: The project in Vietnam, worth RM6 billion, is awaiting financial close, which could contribute to a substantial earnings increase of 30-35% for SunCon in the financial years 2024 to 2025. 
    ]]>     2023-10-10 01:34:11 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739018262     [Aug 30, 2023] PETRONAS' Sustainability Highlights nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739035497
  • GHG Emissions: PETRONAS recorded a 3% increase in Q2 2023 GHG emissions for Malaysia operations, primarily due to increased refinery production, and expects to meet near and mid-term emissions targets through reduction projects.
  • PETRONAS' Social Impact Investment: PETRONAS contributed RM300m in 1H FY2023, aiding 1.1m beneficiaries, and RM190m in Q2, benefiting over 670,000 people worldwide, including Malaysia. Programmes focused on education, community well-being, and environmental sustainability, contributing to Malaysia and its countries.
    • ]]>     2023-10-10 01:47:03 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739035497     [Aug 13, 2023] Johor to launch "Green Deal” framework at APCW 2023 adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739037732
  • Johor state government will launch a green initiative framework called "Johor Green Deal" at the Asia Pacific Climate Week (APCW) 2023 on 17th November 2023 at Persada Johor International Convention Centre.
  • APCW 2023 is one of the four regional climate weeks this year. It aims to build momentum ahead of the UN Climate Change Conference (COP28) held in Dubai at the end of November and reaffirm Johor's unwavering commitment to sustainability and green initiatives.
  • The highlight of APCW 2023: Johor will share its disaster management experiences in tackling floods while taking stock and learning from other countries.
  • Johor Green Deal: a sustainability plan for Johor's greener future and to set up the Johor Sustainability Centre. 
    • ]]>     2023-10-10 01:48:38 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739037732     [Aug 11, 2023] Boosting sustainable productivity adilahmustaffar https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739044497
  • New Industrial Master Plan 2030 (NIMP 2030) emphasises productivity multipliers and enablers like improving ease of doing business, technology adoption, and talent development.
  • Malaysia Productivity Corporation (MPC) aims to boost investment, industry, and export productivity to support GDP growth, aligned with ESG and sustainability. It focuses on talent, technology, and regulations to enhance productivity comprehensively. It launched the Productivity Report 2023 (PR2023), which details Malaysia's productivity agenda and highlights achievements in competitiveness.
  • Malaysia's 12th Malaysia Plan (RMK12) targets 3.6% annual productivity growth and RM106,060 value added per employment by 2025.
  • Madani Economy Framework - aiming to be in the top 12 of the World Competitiveness Ranking, indicating the need for more transformative productivity growth to escape the middle-income trap. Malaysia improved to 27th in the World Competitiveness Ranking 2023 due to solid GDP growth and productivity recovery in 2022. 
  • Prioritising employee well-being and standard of living can enhance productivity, employee performance, and profits.
    • ]]>     2023-10-10 01:53:33 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739044497     [Sep 4, 2023] NIMP 2030 highlights the importance of ESG nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739052678
  • The New Industrial Manufacturing Plan (NIMP) 2030, released on Sep 1, enhances ESG practices in Malaysia’s manufacturing sector. 
  • The NIMP 2030 identifies ten action plans and three mission-based projects to accelerate sustainable practices, particularly in sectors like cement, metal, chemical, and petroleum, aiming to reduce emissions.
  • The document outlines three action plans for the electric vehicle ecosystem: launching locally manufactured EVs and implementing large-scale carbon capture, utilisation, and storage solutions. 
  • NIMP 2030 aims to transform industrial estates into eco-industrial parks, reducing greenhouse gas emissions, waste, and natural resource usage.
    • ]]>     2023-10-10 01:59:27 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739052678     [Sep 5, 2023] Transform the sustainability journey with TCS Zero Carbon Platform nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739063263 TCS Zero Carbon Platform | UN Global Compact Network Malaysia & Brunei (ungcmyb.org)

    TCS Zero Carbon Platform is a digital tool for organisations to set targets, monitor their carbon footprint, and lead actions towards net zero carbon emissions.]]>     2023-10-10 02:06:43 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739063263     [Sep 5, 2023] Collaboration between PETRONAS and TNB in Supporting Malaysia's NETR nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739798281
  • PETRONAS and Tenaga Nasional Berhad (TNB) recently showcased their continuous collaborative commitment to supporting Malaysia's National Energy Transition Roadmap (NETR) at the Energy Transition Conference in Kuala Lumpur.
  • PETRONAS President, Tan Sri Tengku Muhammad Taufik, and TNB President, Dato' Indera Ir. Baharin Din held a document exchange of the Memorandum of Understanding (MoU) to explore carbon capture and storage technology for gas-fired power plants. 
  • Carbon Capture, Utilisation, and Storage (CCUS) is identified as the 6th Energy Transition Lever in NETR. 
  • PETRONAS and TNB will continue to leverage on each other's expertise towards decarbonisation and achieving Malaysia's net zero carbon emissions ambition by 2050.
  • NETR Phase 2 was also launched at the event by the Prime Minister, which entails the nation's energy transition initiatives following NETR Phase 1.
    • ]]>     2023-10-10 11:52:28 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739798281     [Sep 14, 2023) Key Takeaways from the National OGSE Sustainability Plan (NOSP) SpeakOGA 2023 Talk by Ms Ilham Fadilah, VP of Corporate Strategy & Research, MPRC nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739847500
  • The National OGSE Sustainability Roadmap is in progress and will be launched by the MPRC soon – it plays a vital role in guiding our OGSE industry towards compliance with sustainability requirements.
  • Two national documents on accelerating the energy transition in Malaysia: National Energy Policy and National Energy Transition Roadmap (NETR).
  • BNM issued Climate Change and Principle-based Taxonomy (CCPT) in 2021 - used by financial sector stakeholders such as capital market players and intermediaries and analysts to guide investment and asset selection decisions and rating agencies in rating decisions. For the public sector, the document may serve as a guide for policy formulation and prioritisation alongside funds allocation. 
  • Issues highlighted by the stakeholders during the Q&A session:
    1. There's a gap in sustainability reporting assurance and audit processes for sustainability plans - not covered in and by MPRC - MPRC needs to consider what assurance should be added - who will approve the sustainability reporting in Malaysia?
    2. Enquiry on bank/green financing requirements - FTSE Malaysia Index - what do banks need (financiers' requirements) from the PLCs and SMEs to fund/approve green initiatives? - different banks require different conditions from the PLCs and SMEs, thus making it hard for them to ask for loans from the banks - MPRC is currently engaging with the banks to meet the financial requirements. 
    3. What kind of data is needed to disclose carbon emissions?
  • The challenges and state of the Malaysian OGSE industry: 
    1. The Malaysian OGSE industry is highly fragmented, with 95% of the industry comprising SMEs. 
    2. The volume of local OGSE technology development could be higher, indicating limited R&D activity relative to the industry's size.
    3. Only 36 OGSE patent families with local inventors were filed in the last five years, indicating relatively low innovation and patent activity.
    4. The quality of local OGSE technology developed needs to be more widely regarded, suggesting room for improvement in technology and innovation.
    5. There is a need for talent and technology development within the industry to enhance its competitiveness.
    6. Trade promotion and export capacity building are areas where the industry can improve.
    7. Improving financial strength, particularly in terms of working capital, is crucial for the sustainability and growth of OGSE businesses.
    • ]]>     2023-10-10 12:27:19 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739847500     [Sep 13, 2023] PETRONAS to unlock collaborative transition into energy space nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739872737
  • PETRONAS' Senior Vice President Datuk Bacho Pilong emphasises the need for continued and strengthened collaboration between countries and corporations to attract investments for scaling up and deploying decarbonisation solutions.
  • Bacho emphasises the importance of financing, liquidity, and green financing for the energy transition in the region, including flexible grants for oil and gas players.
  • The Petronas Activity Outlook for 2022-2025 predicts a positive outlook for drilling rigs, well-service activities, and underwater services, emphasising the importance of maintaining offshore facility integrity.
  • Bacho highlighted the need for a future-ready talent pipeline to support the anticipated workforce demand in 2025's turnaround activities.
  • PETRONAS is enhancing its decarbonisation efforts, including zero routine flarings, energy efficiency, electrification, and carbon capture and storage (CCS), to reduce carbon emissions, particularly in gas reservoirs.
    • ]]>     2023-10-10 12:42:55 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739872737     [Sep 11, 2023] PETRONAS says it needs regulations to support Scope 3 reporting nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739934179 PETRONAS needs regulatory support to mandate emissions reporting across its value chain, following criticism for not disclosing Scope 3 emissions as part of its net-zero pledge. Chief Financial Officer Liza Mustapha explains that PETRONAS is paying attention to Scope 3 but face challenges measuring product usage.

    Reporting challenges: 
    1. PETRONAS seeks assistance obtaining precise emissions data for Scope 3 reporting, requiring extensive consumer product use and disposal data.
    2. Organisations should report third-party emissions from suppliers and vendors, gradually expanding to include client and consumer emissions. Options include primary data from suppliers or secondary data from published sources.
    3. Reporting emissions of multinational corporations presents a geographic challenge, as over 70% of Petronas' revenue in 2022 came from outside Malaysia, with Singapore being the largest single-country buyer.

    Greenwashing allegations:
    1. PETRONAS' CO2 sequestration project, Kasarawri, aims to sequester 3.3 million tonnes of emissions, but Rimbawatch argues it only accounts for 0.9% of total 2022 emissions.
    2. Despite establishing Gentari, a renewable energy arm, PETRONAS is still in its "investing stage" and has not generated enough earnings to attract potential partners.
    3. PETRONAS focuses on decarbonisation through low-hanging fruit measures like methane emissions reduction and energy efficiency improvement, with carbon credits and offsets being seen as a last resort.
    ]]>     2023-10-10 13:19:10 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739934179     [Sep 13, 2023] PETRONAS, Gentari, Amazon and AWS collaborate to intensify sustainability, decarbonisation initiatives nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739947287
  • Petroliam Nasional Bhd (PETRONAS), Gentari Sdn Bhd, Amazon, and Amazon Web Services (AWS) are partnering to promote sustainability and decarbonisation initiatives, including supporting Amazon's India transportation network's electrification through third-party delivery service partners.
  • Amazon plans to deploy 10,000 electric vehicles (EVs) in its India delivery fleet by 2025, with Gentari providing fleet management services for third-party delivery service partners. It also intends to assess Petronas' low-carbon and alternative fuel solutions for potential integration in mobility, stationary power applications, and carbon management.
  • AWS Asean is enhancing its partnership with PETRONAS and Gentari to promote sustainable development by fostering expertise and technology.
    • ]]>     2023-10-10 13:25:52 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739947287     [Sep 20, 2023] Measuring What Matters: A Deep Dive into Calculating Financed Emissions nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739956246
  • CDP and PCAF collaborate actively to standardise the data quality scoring for GHG emissions and harmonise the approach to measure and disclose them.
  • CDP and PCAF developed the Data Quality Scoring Guide. To CDP, 7 is the highest score, while 1 is the lowest. In contrast, PCAF set 1 as the highest score and 5 as the lowest. 
  • We need to understand and differentiate data quality. Also, physical activity data is more accurate than revenue activity-based data. 
  • During the Q&A sesh, stakeholders and financiers asked the following questions:
    1. How do we calculate/measure the Scope 3 emissions without proxy data?
      1. CDP: besides revenue, use a financial indicator similar to revenue. 
      2. PCAF: we should refer to PCAF's Option 2A (revenue) and Option 3B and 3C (geographical aspect). Refer to Chapter 10 if Option 3A is unavailable. 
    2. A concern about double counting is raised.
      1. CDP: double counting is unavoidable. However, the data quality will improve as soon as the methodology improves. Accordingly, double counting will decrease.
      2. PCAF: Double counting occurs in Scope 2 and 3 in GHG counting. Don't mix the scopes; it's best to report them separately. Transparency of data sharing and scope calculation are encouraged.
    • ]]>     2023-10-10 13:30:30 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739956246     [Sep 20, 2023] Bursa Malaysia Encourages Greater Sustainability Reporting Compliance with Illustrative Sustainability Report nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739977450
  • Bursa Malaysia Securities Berhad unveiled the Illustrative Sustainability Report (ISR) to enhance the commitment of listed issuers to sustainability practices and disclosures. 
  • Bursa Malaysia had previously introduced sustainability reporting requirements within the Main Market Listing Requirements (Main LR) and the ACE Market Listing Requirements (ACE LR).
  • The ISR visually presents enhanced sustainability disclosure criteria, covering critical disclosures in each Sustainability Statement or report section, cross-referencing requirements and recommendations from international sustainability reporting frameworks.
  • The ISR assists listed issuers in preparing for the phased implementation of the Enhanced Sustainability Reporting Framework starting from the end of the financial year 2023.
  • Bursa is developing a Sustainability Explainer Video to simplify the reporting process for listed issuers, ensuring a smoother transition and increased accessibility.
    • ]]>     2023-10-10 13:41:20 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739977450     [Sep 22, 2023] Illegal for employers to retain staff passports nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739999073
  • The action by employers or local agents to withhold the passports of migrant workers is a breach of international law and local act under Section 12(1)(f) of the Passports Act 1966, where an employer cannot take possession of an employee’s passport unless it is for a specific reason such as visa renewal.
  • Consequently, the workers would be unable to move around freely on their off days, leading to mental anguish in the long term. They also face difficulty seeking help from Malaysian authorities if they are exploited.
  • Government authorities can retain the passport for investigation, prosecution of an offence, or identity verification if needed.
  • It is suggested that mandatory insurance be required to ensure migrant workers who wish to leave their employment for any reason can do so, as the insurance policy will compensate for the financial losses incurred by the employer. 
    • ]]>     2023-10-10 13:52:03 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2739999073     [Sep 23, 2023] Human Resources Ministry: WRO on Supermax withdrawn thanks to compliance enforcement nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2740015104
  • The United States Customs and Border Protection Department (US CBP) withdrew the Withhold Release Order (WRO) on Supermax Corporation Sdn Bhd and its subsidiaries due to the company's initiatives and enforcement measures by the Human Resources Ministry (KSM). 
  • Malaysia was relieved the company could resume rubber glove exports to the US market effective Sep 18, 2023. 
  • The WRO was imposed on Oct 21, 2021, due to 10 out of 11 indicators of forced labour practices in the company's operations, including the illegal deduction of wages and non-conducive accommodation.
  • Peninsular Malaysia Labour Department conducted statutory inspections on the company, revealing a remediation plan involving 1,957 foreign workers, amounting to RM25.67 million.
    • ]]>     2023-10-10 14:00:13 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2740015104     [Sep 26, 2023] SC, SME Corp ink MoU to facilitate capital market financing for MSMEs nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2740021329
  • The capital market is now accessible to micro, small, and medium enterprises (MSMEs), accounting for 38% of Malaysia's GDP. 
  • With 48% employment, capital-ready smaller firms mean a plus to the Malaysian ESG Movement. 
  • SME Corporation Malaysia (SME Corp) has a database of MSMEs. When bundled with the regulatory expertise of the Securities Commission Malaysia, sustainable development will be easier for non-PLCs. 
    • ]]>     2023-10-10 14:03:34 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2740021329     [Oct 4, 2023] Singapore unveils carbon credit criteria; new double-counting safeguards could exact a price nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2741332889 Singapore has released the eligibility criteria for its International Carbon Credit (ICC) Framework. Certified emissions reductions or removals must meet all of the following seven criteria:
    1. No double counting: Must not be accounted for more than once.
    2. Additional: Must exceed any emissions reduction or removals required by the host country's law or regulatory requirement. 
    3. Real: Must have been quantified based on a realistic, defensible, and conservative estimate of emissions. 
    4. Quantified and verified: To be calculated conservatively, transparently, and measured and verified by an accredited and independent third party. 
    5. Permanent: Must not be reversible, or if there is a risk that the certified emissions reductions or removals may be reversible, there must be measures to monitor, mitigate and compensate for any material reversal of the certified emissions reductions or removals. 
    6. No harm: The project or programme that generated the certified emissions reductions or removals must not violate any applicable laws, regulatory requirements, or international obligations of the host country. 
    7. No leakage: The project or programme that generated the certified emissions reductions or removals must not result in a material increase in emissions elsewhere. Leakage risk, if any, must be managed.
    ]]>     2023-10-11 07:20:39 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2741332889     [Oct 11, 2023] Stockholm to ban petrol, diesel cars in city centre from 2025 nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2741521123
  • Stockholm will ban petrol and diesel cars in a central 20-block area of the city with many pedestrians and cyclists on Dec 31, 2024, to improve air quality.
  • This is mainly due to the air in Stockholm causing babies to have sick lungs and the elderly to die prematurely.
  • Exceptions will be made for police cars, ambulances, and other security services.
    • ]]>     2023-10-11 09:41:10 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2741521123     Events to be added later into the Teams Channel’s calendar nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2741530135 26 Jan International Day of Clean Energy 
    02 Feb World Wetlands Day 
    11 Feb International Day of Women and Girls in Science
    20 Feb World Day of Social Justice
    01 Mar World Seagrass Day 
    03 Mar World Wildlife Day
    08 Mar International Women's Day
    21 Mar International Day of Forests 
    22 Mar World Water Day 
    30 Mar International Day of Zero Waste
    02 Apr World Autism Awareness Day
    21 Apr World Creativity and Innovation Day 
    22 Apr International Mother Earth Day
    28 Apr World Day for Safety and Health at Work
    20 May World Bee Day 
    21 May International Tea Day 
    22 May International Day for Biological Diversity 
    05 Jun World Environment Day
    08 Jun World Oceans Day 
    12 Jun World Day Against Child Labour
    20 Jun World Refugee Day
    27 Jun Micro-, Small and Medium-sized Enterprises Day
    09 Aug International Day of the World's Indigenous Peoples
    19 Aug World Humanitarian Day
    07 Sep International Day of Clean Air for Blue Skies 
    16 Sep International Day for the Preservation of the Ozone Layer 
    18 Sep International Equal Pay Day
    21 Sep International Day of Peace
    02 Oct World Habitat Day 
    02 Oct International Day of Non-Violence
    10 Oct World Mental Health Day [WHO]
    14 Oct World Migratory Bird Day [UNEP]
    25 Nov International Day for the Elimination of Violence against Women
    26 Nov World Sustainable Transport Day
    03 Dec International Day of Persons with Disabilities 
    09 Dec International Anti-Corruption Day 
    10 Dec Human Rights Day 
    11 Dec International Mountain Day 
    20 Dec International Human Solidarity Day
    ]]>     2023-10-11 09:47:40 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2741530135     [Oct 11, 2023] SC to develop governance guidance for SMEs rahmatamirur https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2742684354
  • The Securities Commission Malaysia (SC) is collaborating with relevant agencies to develop an ESG toolkit tailored for MSMEs.
  • Capital Markets Malaysia, an affiliate of the SC, will issue a Simplified ESG Disclosure Guide specifically for SMEs.
  • This effort is driven by the recognition that SMEs need support and guidance to manage risks from supply chain vulnerabilities and disruptions. 
  • Malaysia's corporate governance guidelines align with the updated G20/OECD Principles of Corporate Governance, emphasising the importance of board governance and management diversity.
  • In June 2023, Bursa Malaysia made it mandatory for listed companies to have at least one woman on their board of directors, in line with the recommendation that women directors comprise at least 30% of all board members. 
  • The SC is actively promoting sustainability in governance through initiatives like the Leading for Impact Programme, a mandatory onboarding training for directors of listed firms, with over 1,000 directors participating.
    • ]]>     2023-10-12 01:03:36 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2742684354     [Oct 9, 2023] Mental Health Issues Soar to Number 1 Workplace Injury nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2743002875
  • World Mental Health Day is celebrated on October 10th, but chronic stress, burnout, and workplace anxiety remain prevalent occupational hazards.
  • Atticus surveyed 1,000 employees using data from OSHA, BLS, and Google Trends to investigate the decline in mental health among professionals. Here are some of the key findings:
    1. One in 10 workers experience mental health issues due to their work.
    2. The highest number of workplace injuries (52%) are related to stress and anxiety.
    3. Mental health issues are 10 times more common work-related injuries than chemical exposure and 8.6 times more common than head injuries.
  • Perfectionistic burnout results from traits workers impose on themselves throughout the workday or workweek. 
  • A self-care plan can help you know your limits, set realistic expectations, avoid burnout and communicate feelings of being overwhelmed or fatigued to bosses and coworkers.
  • Practice mindfulness, exercise, microbreaks, hobbies, and eating habits regularly and throw people-pleasing out the window if it conflicts with your mental health.
    • ]]>     2023-10-12 05:11:13 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2743002875     [Oct 13, 2023] Budget 2024 at a glance nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2748426412 Budget 2024 was tabled in Parliament on 13 October 2023 with the theme of "Economic Reforms, Empowering the People". 

    Economy
    1. 4.0%-5.0% Real GDP growth, 2024
    2. 2.1%-3.6% Headline inflation, 2024
    3. 3.4% Unemployment rate, 2024

    Rakyat
    1. Aid: RM10 billion allocation for Rahmah Cash Aid (STR) to benefit 9 million recipients. Maximum rate increased from RM3,100 to RM3,700.
    2. Affordable housing: RM10 billion allocated to the Housing Credit Guarantee Scheme, benefiting 40,000 borrowers.
    3. Employment: RM6.8 billion allocation for TVET education, including RM1.6 billion for HRD Corp to train 1.7 million workers.

    Digital
    1. High-Growth, High-Value: RM1.5 billion by GLCs and GLICs to encourage startups to venture into the digital economy, space technology, electronics, and electrical (E&E).
    2. Cybersecurity: BNM to develop a National Fraud Centre (NFC), expected to be completed in mid-2024.
    3. Digital startup: To develop MYStartup platform optimising RM200 mn fund under various funding agencies and venture capital.

    Tax
    1. Service tax increases from 6% to 8%.
    2. Global minimum tax to be implemented in 2025 for companies with a global income of at least EUR750 mn.
    3. e-Invoicing to be fully implemented by July 2025.
    4. Capital gains tax will be imposed at 10% on unlisted shares from 1 March 2024.

    Investment and Trade
    1. MSME development: RM44 billion in loans and financial guarantees to MSMEs.
    2. New Industrial Master Plan 2030: RM200 million initial fund to implement the planned programmes and initiatives. 
    3. Public infrastructure: Multi-billion projects such as LRT3, Sabah Pan Borneo, and Sarawak-Sabah Link Road.

    Subsidy
    1. Diesel subsidy to be rationalised in stages.
    2. Chicken and eggs will see temporary price controls removed, enabling sustainable market supply.

    Sustainability
    1. RM200 billion to be provided by financial institutions to encourage low-carbon economic transition.
    2. RM2 billion allocation for Fund to Facilitate National Energy Transition.
    3. RM1 billion issuances of biodiversity sukuk.
    ]]>     2023-10-16 08:38:19 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2748426412     [Oct 18, 2023] Malaysia takes global lead with innovative ESG Disclosure Guide for SMEs nursyamieraismail https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2755620190
  • Malaysia's Pioneering Initiative: Capital Markets Malaysia (CMM) and the Securities Commission Malaysia (SC) have introduced the Simplified ESG Disclosure Guide (SEDG), making Malaysia a global pioneer in providing MSMEs within supply chains with a simplified ESG disclosure framework.
  • Simplifying ESG Frameworks: The SEDG simplifies and consolidates complex ESG frameworks, ensuring MSMEs have greater access to ESG data. Extensive consultations were conducted with stakeholders, including large corporations, SMEs, and regulatory bodies, during the crafting of the guide.
  • Global ESG Requirements: The initiative aims to help large and small companies meet global ESG requirements. SMEs are particularly vulnerable to supply chain vulnerabilities; hence, the SEDG is a critical tool to empower them.
  • Alignment with Sustainability Policies: The release of the SEDG aligns with Malaysia's national policies focused on fostering business sustainability as the country advances its net-zero commitments.
  • Structured Disclosure Categories: The SEDG comprises 35 priority disclosures categorised into Basic, Intermediate, and Advanced levels, allowing MSMEs to align with their specific sustainability maturity.
  • Broad Support: The SEDG initiative has gained support from major players in supply chains, financial institutions, government bodies, and NGOs. An associated programme, the SEDG Adopter Programme, provides training and workshops to facilitate ESG reporting for MSMEs.
  • Global and Local Compliance: The guide adheres to various global and local reporting standards, and sector-specific guidance is expected to be introduced in early 2024.
    • ]]>     2023-10-20 03:35:25 UTC https://padlet.com/adilahmustaffar/fee6xfsbe7n5jb3u/wish/2755620190