Automotive industry is experiencing significant transformation as the requirement for sustainable and socially responsible business practices grows in prominence. This shift is expected to accelerate in the coming years as governments and consumers demand higher ESG standards from corporations. A clear and convincing vision established by Bermaz Auto (BAuto) can push the company's sustainability efforts, boost its reputation, and communicate its values to shareholders.
BAuto emphasizes on environmental, social, and governance (ESG) initiatives, which focus on essential material issues. The group embarked on its sustainability journey in 2018 which culminated in their inclusion in F4GBM in June 2020 and F4GBMS in July 2021. With an increasingly favourable rating by FTSE Russell, the company has been awarded several The EDGE ESG awards in 2022, including the silver award for Best Performer by Sector and Top 3 Performers in ASEAN, demonstrating its commitment to sustainable and responsible business practices. The company has adopted various sustainability frameworks, including the i) Global Reporting Initiative standard (GRI), ii) Bursa Malaysia's Sustainability Reporting Guide, and iii) International Organization for Standardization (ISO) 26000:2010 Guidance on Social Responsibility. These frameworks support and enhance BAuto's sustainability practices, broadly supporting the United Nations (UN) Global Compact and the UN Sustainable Development Goals (SDGs). BAuto has a clear and strong commitment to ESG vision, with a focus on environmental visions, including i) conscious manufacturing and production process, ii) supporting a green supply chain, and iii) proper waste management, as well as social vision such as iv) being a good corporate citizen, v) establishing a safe and reliable workplace, and vi) delivering quality products for sustainable ownership. Therefore, BAuto's commitment to its sustainability goals remains strong, supported by various measures.
Source: BIMB Securities Research - 7 May 2023
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