Latest news with #NationalSustainabilityReportingFramework
The Star
6 days ago
- Business
- The Star
Wasco empowers SMEs on ESG readiness ahead of NSRF rollout
KUALA LUMPUR: Wasco Bhd is taking early steps to support small and medium-sized enterprises (SMEs) in its supply chain as Malaysia prepares for mandatory environmental, social and governance (ESG) disclosures under the National Sustainability Reporting Framework (NSRF). The energy infrastructure services group said it will host its inaugural Sustainability Day on July 29 in Kuala Lumpur, themed "Building a Responsible Value Chain Together', to help vendors prepare for upcoming sustainability requirements. "The full-day event aims to raise awareness and build ESG readiness across Wasco's vendor ecosystem, with a focus on Scope 3 greenhouse gas (GHG) emissions, human rights due diligence, and responsible sourcing,' it said in a statement today. The programme will feature keynote addresses, a panel session and vendor advisory booths offering hands-on ESG guidance. A highlight will be the panel discussion, "From Learning to Leading: Real Stories from the Sustainability Journey', moderated by broadcast journalist and ESG advocate Freda Liu. Fresh from winning at the 2025 Sustainability and CSR Awards Malaysia, Wasco said it is expanding its ESG efforts beyond internal operations to empower supply chain stakeholders. "Sustainability is no longer a peripheral issue. It is central to long-term value creation,' said Wasco chief strategy officer Ariesza Noor. "While some companies focus on general ESG awareness, we are going deeper - tackling climate data, supplier transparency and human rights due diligence through practical, sector-specific guidance.' She said that although many SMEs in Wasco's supply chain are not immediately subject to NSRF disclosure requirements, proactive engagement is essential. "We recognise that many of our partners are not legally bound yet. However, readiness cannot wait until regulation knocks. That is why we have stepped in early - not to audit, but to empower,' Ariesza added. The NSRF, led by the Securities Commission Malaysia, aligns with global standards issued by the International Sustainability Standards Board (ISSB), requiring disclosures based on IFRS S1 and S2 - including Scope 1, 2 and 3 GHG emissions. The phased implementation will begin on Jan 1, 2025, with Tier 1 Main Market PLCs (those with market capitalisation of RM2 billion and above) required to comply first. Other Main Market companies are expected to follow by 2026, while ACE Market firms and large unlisted entities (with revenue over RM2 billion) must comply from 2027, with full adoption due by 2030. Among the event's ESG knowledge-sharing segments are sessions by Bursa Malaysia, UNGC Malaysia & Brunei, and independent experts offering toolkits on climate reporting, social compliance and ethical procurement. - Bernama
The Star
22-07-2025
- Business
- The Star
Capital Markets Malaysia launches emissions calculator for SMEs
Securities Commission Malaysia building at Kuala Lumpur KUALA LUMPUR: Capital Markets Malaysia (CMM), an affiliate of the Securities Commission Malaysia (SC), today launched the SEDG Greenhouse Gas (GHG) emissions calculator to help small and medium enterprises (SMEs) measure and report their emissions. CMM said in a statement that the tool is designed to help Malaysian companies measure and report their scope 1 and scope 2 emissions based on the globally recognised GHG protocol. SC executive chairman Datuk Mohammad Faiz Azmi said accurate emissions measurement was increasingly critical for Malaysian SMEs, particularly those operating in global supply chains, as customers demand greater disclosure. "The SEDG GHG emissions calculator simplifies a complex process, making emissions reporting accessible even to first-time users. "Beyond reporting, it also enables companies to pinpoint key emission sources across operations, allowing them to make informed decisions and move towards meaningful climate action,' he said. He added that the calculator complements the SC's efforts to promote consistent and credible sustainability disclosures and supports the adoption of the National Sustainability Reporting Framework. Meanwhile, CMM general manager Navina Balasingam said the agency conducted a series of user acceptance tests across various supply chain sectors to ensure the tool met SMEs' needs and expectations. She said the calculator is available free of charge in three languages - English, Bahasa Melayu and Simplified Mandarin - to ensure broad accessibility. - Bernama
BusinessToday
16-06-2025
- Business
- BusinessToday
Malaysia's Commitment To Sustainability Reporting Aligns With Global Standards
The International Financial Reporting Standards (IFRS) Foundation has recognised Malaysia's commitment to sustainability reporting in its recently issued Jurisdictional Profile, noting that Malaysia is the only jurisdiction in the ASEAN region adopting the standards. This recognition in the Jurisdictional Profile underscores the global standing of Malaysia's National Sustainability Reporting Framework (NSRF). Launched in September 2024 and developed by the Advisory Committee on Sustainability Reporting (ACSR), the NSRF is a significant step in advancing Malaysia's corporate sustainability agenda. The NSRF phases in the adoption of ISSB Standards, specifically IFRS S1 and IFRS S2. Starting with a 'limited transition' approach, Malaysia extends certain transitional standard reliefs, including 'climate-first' reporting and deferred Scope 3 GHG emissions disclosures. This approach facilitates a smooth transition to full adoption of the ISSB Standards, while recognising the varying levels and maturity in sustainability practices and reporting across companies. The SC Chairman Dato' Mohammad Faiz Azmi said that the ACSR welcomes the ISSB's endorsement, which represents an important recognition of our efforts in using the ISSB Standards as the baseline for sustainability disclosures in Malaysia. 'The ACSR is cognisant of the high standards the ISSB Standards has set for sustainability reporting, and the challenges this may pose to entities. We remain committed to equipping reporting entities to meet these requirements,' he said. To ensure the readiness of applicable entities, the NSRF introduced the PACE (Policy, Assumptions, Calculators, Education) initiative, providing training, tools and resources. This includes training on interoperability between the Global Reporting Initiative (GRI) Standards and ISSB Standards conducted in March this year. Other upcoming PACE initiatives include the development of Illustrative Sustainability Reports to guide company disclosures and an NSRF Preparers' Programme to strengthen capacity. The ACSR will also continue engaging with the industry to understand sector-specific challenges in adopting the ISSB Standards. The first cohort of Jurisdictional Profiles was published by the IFRS Foundation on 12June 2025. The publication provides transparency to capital markets on the adoption approaches of different jurisdictions. Related
