IM Possible Solutions Sdn Bhd managing director and Tunku scholar Amir Isyam Abdul Rahim says as smart business owners, we must be strategic in what we choose to adopt as the business itself must be sustainable for us to contribute to the planet’s sustainability.
In this article, I will explore why ESG is crucial, and how to implement it strategically and in a cost-effective manner.Globally, the climate crisis has driven nations to commit to international treaties, such as the Paris Agreement and the UN Sustainable Development Goals. Malaysia has pledged to become carbon-neutral by 2050, integrating these goals into the 12th Malaysia Plan, affecting every government ministry and agency.
These moves, driven by global investor pressure, will, if not already being done so, create a ripple effect and push companies to adopt and report on their ESG initiatives. Essentially, ESG measures an organisation’s broader impact on society and the environment. While it is tempting to claim to be an expert in ESG, its vastness means that you should view anyone who does so with a bucket of salt.Noble intentions aside, ESG is becoming mainstream due to regulatory and financial pressures.