Anything you say, can and will be used against you Former Petronas CEO Wan Zulkiflee a casualty of tiny Exxon shareholder 97% of Malaysia’s top 100 companies include sustainability data in their annual reports. This is per KPMG’s Survey of Sustainability Reporting 2022 which analysed the annual reports of the top 100 companies in 58 countries. 97% sounds encouraging, seeing that Bursa Malaysia’s reporting requirements for all Main Market listed issuers won’t come into full effect until 2025. Quantity however is not the same as quality.
Former Petronas CEO Wan Zulkiflee a casualty of tiny Exxon shareholder
97% sounds encouraging, seeing that Bursa Malaysia’s reporting requirements for all Main Market listed issuers won’t come into full effect until 2025. Quantity however is not the same as quality. KPMG’s Head of Sustainability Advisory in Malaysia, Phang Oy Cheng observed that “while there has been marked improvements in companies reporting carbon reduction targets, plans remain vague, and actions are too slow to show real results.
Sustainability Matters will delve deeper into the respective pathways put forth by some of our corporations in the weeks to come. It is of special interest to us as any target will have to consider new investments in technology and digitalisation if it is to be realised. A more immediate challenge however is the exposure to new forms of activism that many of these companies may not be prepared for.
How much of this policy change can be attributed to the pressure campaign by ShareAction? They were unlikely to be the sole reason, but a series of public pressure campaigns surely played a significant part.
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