22.7 C
Brunei
Monday, September 26, 2022
22.7 C
Brunei
Monday, September 26, 2022
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    45pc of Malaysian companies yet to allocate budget for sustainability initiatives

    THE STAR – About 45 per cent of Malaysian companies have still not allocated a budget for sustainability initiatives, despite the growing trend of sustainability demands by the country’s stakeholders, according to the Malaysia Businesses Sustainability Pulse Report 2022.

    The report was launched by the UN Global Compact Network Malaysia & Brunei (UNGCMYB) that surveyed 261 respondents (125 corporates, of which 88 are private limited companies, 21 multinational companies, 14 government-linked companies, and 121 micro, small and medium enterprises).

    It was a six-month multi-collaborative effort to address the private sector’s sustainability data gap and shed light on current sustainability trends within the Malaysian business ecosystem.

    The report also showed that 33 per cent of Malaysian companies claimed a lack of sustainable financing plans.

    Rush hour in downtown Kuala Lumpur
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