PETALING JAYA: In today’s business world, investors are placing great emphasis on Environmental, Social and Governance (ESG) factors.

There is also a growing awareness among businesses of the importance of adopting the ESG agenda in their business practices.

As such, Star Media Group (SMG), with OCBC Bank (Malaysia) Berhad as the main sponsor, is returning with the ESG Positive Impact Awards (ESG PIA), which will honour Malaysian companies that have done well in implementing ESG practices.

SMG group chief executive officer Chan Seng Fatt said the award will provide companies with market recognition for their commitment to ESG.

“The award will definitely give you market recognition for your commitment to ESG, and it will also enhance the corporate image of participants,” he said.

“In today’s investing world, investors are also quite aware and will emphasise the importance of ESG commitments,” he added.

Aside from attracting investors who prioritise sustainability, he added that the recognition will also enhance a brand’s reputation as a responsible corporate citizen.

“I think the impact is tremendous in today’s corporate landscape. There is more and more emphasis on the importance of ESG and with this award participation, you are telling the market that you are committed and confident in your own commitment. That will definitely enhance your market positioning and your brand value,” he said.

The ESG PIA Winners Showcase Agenda was held yesterday with presentations by past winners, Heineken Malaysia Bhd and Geomax Rubber Innovative Products Sdn Bhd.

OCBC Bank’s Wholesale Banking managing director, Jeffrey Teoh Nee Teik, said ESG principles have laid the foundation for sustainable business practices.

“I think it sets the whole impact in terms of how businesses engage in environmental impacts, for example, pollution control, scarcity of resources, and managing climate change,” he said.

In addition to the environmental aspect, he said there is also the social aspect, such as human rights.

“These are all critical factors that govern the way businesses should be run in the future, and this is going to be crucial in terms of importance to all the stakeholders, such as governments, regulatory bodies, and future investors,” he said.

Investment, Trade and Industry Ministry (Miti) senior director Dr Meenachi Muniandy said since the ministry introduced the National Industry Environmental, Social and Governance Framework (i-ESG Framework) in October last year, there has been an evolving awareness of ESG, especially among micro, small and medium enterprises (MSMEs).

“Within a year, MSMEs have evolved a lot in terms of ESG awareness. So definitely, awards like this will help them understand what ESG is all about and how they can adopt ESG practices,” she said.

The ESG Positive Impact Awards 2023 is organised by SMG and endorsed by the Natural Resources and Environmental Sustainability Ministry and Miti, with OCBC Bank as the main sponsor.

Log on to https://staresgawards.com.my/ for more information on the application.

SMG’s ESG PIA 2022 Gala Night, which was held on June 8 last year, to drive positive change and inspire others in the country to embrace sustainability, saw 100 companies participating, with 60 awards being given out. The awards across 15 categories were presented to the winners at the ESG PIA 2022 Gala Night at the M Resort & Hotel Kuala Lumpur. The submissions were evaluated by a panel of judges based on set criteria across three ESG pillars.

https://www.thestar.com.my/news/nation/2024/05/04/honouring-eco-conscious-firms