Westports, OCBC Bank adopt Bursa’s CSI platform to advance sustainability practices

KUALA LUMPUR: Westports Holdings Bhd and OCBC Bank (Malaysia) Bhd have become the latest adopters of Bursa Malaysia’s centralised sustainability intelligence (CSI) platform.

In a statement, the stock exchange operator said the parties have signed a memorandum of collaboration (MoC), which aims to widen adoption among Malaysian companies, particularly within the transportation and logistics sectors, through improved Environmental, Social and Governance (ESG) data transparency and interoperability.

The CSI Platform, which was developed by Bursa Malaysia in collaboration with the London Stock Exchange Group, will serve as a repository for sustainability disclosures by Malaysian listed companies, along with disclosures by local and international suppliers throughout their supply chains.

Additionally, it will enable companies to calculate and track their carbon emissions impact, while subsequently facilitating green financing and decarbonisation efforts.

Bursa Malaysia CEO Datuk Muhamad Umar Swift said Westports’ extensive global presence connected to major ports worldwide will provide useful insights on ESG measures in ports operations and logistics, which is a key sector for Malaysia as a trading nation.

“As the second biggest port in Southeast Asia, Westports plays a crucial role in global supply chains.

“Westports’ participation in the EAP will enable the company to examine the Scope 3 emissions of its supply chain and allow Westports to fulfil its decarbonisation obligations to its customers, while enhancing ESG data management and performance to attract new business opportunities,” he said.

The CSI platform will also enable OCBC Bank to enhance the ESG supply chain through the provision of sustainable financial solutions, to facilitate corporates to manage and reduce their respective Scope 3 emissions.

Bursa Malaysia said the Moc marked its fourth collaboration, and the first in the transport and logistics sectors.

It follows the Exchange’s previous MoC signings to on-board early adopters from the oil and gas, automotive, as well as property and manufacturing sectors onto the Platform.