Sustainable practices crucial

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Sustainable practices crucial
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Chan said it is crucial for SMEs to embrace sustainable practices to build their resilience towards combating environmental and social risks.

Andrew Chan: “Embracing a sustainability lens will help companies identify and plan for social or environmental risks."

“Embracing a sustainability lens will help companies identify and plan for social or environmental risks.While there’s a perceived cost, companies adopting robust sustainable practises are more likely to perform better as there is strong correlation between financial performance and stakeholder engagement. For instance, increasing energy efficiency will reduce carbon footprint and energy cost.

As such, Chan pointed out that more financial institutions are focusing on the sustainability agenda and that Bank Negara and the Securities Commission have committed to implementing the recommendations of the Financial Stability Board Taskforce on Climate-related Financial Disclosure . Increasingly, investors are looking to plough money in companies that have robust sustainability practices as ESG-oriented business practices gain traction.

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