Globally, the emphasis on and recognition of ESG (environmental, social and governance) factors have grown significantly in recent years, leading to increased demand for transparency on ESG by companies. In response to the growing demand by investors and buyers, enhanced sustainability reporting requirements for Main Market-listed companies will be implemented in phases, starting with the disclosure of common sustainability matters for financial year ending on or after Dec 31, 2023. There is also a need to facilitate comprehensive ESG disclosures by companies including their supply chains, to boost their overall competitiveness and investability.
Recognising this need, Bursa Malaysia, in collaboration with the London Stock Exchange Group, has developed the Centralised Sustainability Intelligence (CSI) Platform — a centralised repository for ESG disclosures. The CSI Platform enables public-listed companies (PLCs) to consolidate and disclose ESG data in a standardised manner, streamlining reporting and enhancing data credibility.
In addition to consolidating sustainability disclosures, the platform offers tools such as the Task Force on Climate-Related Financial Disclosures (TCFD) reporting module and a carbon emission calculator for companies and their supply chains. By creating an ecosystem around the CSI Platform, Bursa Malaysia aims to drive growth and Malaysia’s transition to a green economy.
“We envision that the CSI Platform will serve as the national repository for listed companies’ sustainability disclosures, encourage effective management of their supply chain’s carbon emissions, and incentivise decarbonisation through green financing solutions offered by banks,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia Bhd.
The CSI Platform encourages companies of all sizes to adopt sustainable business practices, enables stakeholders to make informed decisions based on standardised and comparable ESG data, and supports policymakers in monitoring and shaping the appropriate regulatory landscape. As the scope of sustainability disclosures extends to encompass supply chain emissions and practices, companies are therefore pushed to identify and mitigate risks throughout their supply chain, rather than merely within their operations.
“While the whole ESG disclosure exercise sounds daunting to small- and mid-cap companies, it can facilitate business growth to some extent, where ESG is not yet being sufficiently tapped as a competitive business driver. The CSI Platform allows companies of all sizes to come on this journey as a competitive advantage,” says Neil Pabari, LSEG, Global Head of Corporate Sustainability Solutions.
The CSI Platform’s Early Adopter Programme (EAP) or its series of ongoing Proof of Concepts (PoCs) aims to assess or refine the functionality of the CSI Platform across various industry sectors in a pilot programme. The PoCs are expected to be completed by year’s end, to enable the rollout of the platform to all PLCs thereafter.
Read more here – https://theedgemalaysia.com/content/advertise/accelerating-digitalising-esg-bursa-malaysia-centralised-sustainability-intelligence-platform
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