Bursa Malaysia inks MoC with UN Global Compact Network

KUALA LUMPUR: Bursa Malaysia Bhd has inked a memorandum of collaboration (MoC) with the United Nations Global Compact Network Malaysia and Brunei (UNGCMYB) in advancing capability and capacity building on sustainability in the Malaysian marketplace.

Under the MoC, both parties will explore several initiatives including developing sustainability-related programmes or certifications that will support the upskilling of sustainability practitioners of publicly listed companies (PLCs) and small and medium enterprises (SMEs) in their supply chains in a targeted manner.

In a joint statement today, Bursa Malaysia and the UNGCMYB said that an earlier collaboration had resulted in the release of the Corporate Sustainability Practitioner Competency Framework in 2021, which is a tool for practitioners to ascertain their level of competencies in sustainability-related functions.

Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said a sustainability capacity building programme for Malaysian companies is essential to ensure that companies are able to fill gaps in the sustainability talent pool, by pointing listed companies towards credible avenues to upskill the sustainability capabilities of their employees.

“The expanded collaboration with the UNGCYMB reaffirms Bursa Malaysia’s commitment to working with stakeholders in developing a capable, and sustainability-focused marketplace.

“This signals our collective intent to support the Malaysian talent pool in navigating the increasingly complex global environment,” he said.

Further, on the collaboration, both parties said it was aimed at identifying needs and bridging the gap

between current practices and what is now required of Malaysian companies, as well as the complex requirements these companies are expected to adhere to in continuing to carry out business with the international community.

They said that the collaboration will also provide a channel for SMEs in the supply chain of PLCs to improve their climate disclosures and onboard onto the Bursa Malaysia Centralised Sustainability Intelligence Platform. – BK