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Bursa Malaysia Securities Berhad (“Bursa Malaysia” or the “Exchange”) today unveiled the Illustrative Sustainability Report (“ISR”), a novel additional tool to its enhanced sustainability reporting framework. The ISR aims to enhance the commitment of listed issuers to sustainability practices and disclosures, aligned with the increasing importance of sustainability reporting.
As the discourse surrounding sustainability and ESG (Environmental, Social, and Governance) gains momentum, companies are compelled to move beyond superficial compliance and adopt a proactive and strategic stance. In pursuit of elevating sustainability practices and disclosures among its listed issuers, Bursa Malaysia had previously, on 26 September 2022, introduced enhanced sustainability reporting requirements within the Main Market Listing Requirements (“Main LR”) and the ACE Market Listing Requirements (“ACE LR”). Concurrently, the Exchange launched the Sustainability Reporting Guide and Toolkits (3rd Edition) (“Guide and Toolkits”) to aid listed issuers in meeting these augmented obligations.
The ISR, complementing the Guide and Toolkits, offers a visual representation of the enhanced sustainability disclosure criteria. It systematically covers critical aspects of disclosures within each section of the Sustainability Statement or report, presenting content in a coherent manner. This approach ensures concise presentations and enhanced readability, thereby facilitating better comprehension. The ISR cross-references pertinent requirements and recommendations from selected international sustainability reporting frameworks. By leveraging the ISR in conjunction with the Guide and Toolkits, listed issuers can independently undertake sustainability reporting, reducing reliance on external consultants.
Julian Hashim, Chief Regulatory Officer of Bursa Malaysia commented “The Illustrative Sustainability Report arrives at the right moment, aiding listed issuers as they prepare for the phased implementation of the Enhanced Sustainability Reporting Framework, effective from financial year ending (“FYE”) 31 December 2023. We have full confidence that it will enhance the quality and depth of sustainability reporting among our Public Listed Companies (PLCs), providing stakeholders with greater transparency regarding the PLCs’ progress. Consequently, this will augment appeal to investors.”
In addition to the ISR, the Exchange is actively developing another useful resource, the Sustainability Explainer Video, which will be available soon. This resource seeks to simplify the reporting process, making it more accessible to listed issuers and guiding them through the intricacies of sustainability reporting, ultimately ensuring a smoother transition.
For additional information or to access the ISR as well as the Guide and Toolkits, visit https://bursasustain.bursamalaysia.com/droplet-details/resources/sustainabilityreporting-framework-resources
