Following the launch of the National Sustainability Reporting Framework (“NSRF”) by Finance Minister II, YB Senator Datuk Seri Amir Hamzah Azizan, at the Securities Commission Malaysia (“SC”) today, Bursa Malaysia Securities Berhad (“Bursa Malaysia” or “the Exchange”) issued a consultation paper seeking public feedback on the proposed sustainability reporting enhancements to the Main Market and ACE Market Listing Requirements (collectively “LR”), in line with the envisioned adoption of the NSRF.
The NSRF was developed to, among others, address the use of the IFRS® Sustainability Disclosure Standards issued by the International Sustainability Standards, specifically the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 Climate-related Disclosures (collectively referred to as the “ISSB Standards”), as the baseline sustainability disclosure standards for companies in Malaysia.
Accordingly, the Exchange proposes to require a listed issuer to prepare its sustainability statement in accordance with the ISSB Standards, complemented by relevant existing disclosures in the sustainability reporting framework introduced in September 2022. The adoption of the ISSB Standards will be implemented in phases, complemented by appropriate relief measures to facilitate and ease compliance by listed issuers.
Separately, the Exchange is also seeking feedback on two other areas of review to the LR. They relate to the mode of general meetings and the publication of the initial public offering adviser’s name in a listed issuer’s public documents for a specified period.
The proposed amendments above are part of the Exchange’s ongoing commitment to ensure that listed issuers embrace the rapidly evolving sustainability practices globally, and that the LR remains fit for purpose in serving the changing needs of investors and stakeholders.
Further details on the consultation paper and the proposed amendments to the LR are available at https://www.bursamalaysia.com/regulation/public_consultation.
The Exchange welcomes views and feedback from the public on the proposed amendments above. Interested parties are invited to submit their comments to Bursa Malaysia by 25 October 2024.
