KUALA LUMPUR: Bursa Malaysia Bhd's near- and long-term science-based greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi).

The SBTi is a global body that enables organisations set ambitious emissions reduction targets in line with the latest climate science.

This validation makes Bursa Malaysia the first exchange in Asia to receive such recognition, underscoring its leadership in climate action and commitment to sustainable practices.

Its chief executive officer Datuk Muhamad Umar Swift said the world is at a critical juncture where addressing the climate crisis is more urgent than ever, driving the company to build on the progress they have already made by setting ambitious targets.

"Having our climate action targets validated by the globally recognised SBTi is a testament to our commitment to addressing climate change effectively and meaningfully. "We are committed to minimising the impact of our operations and our related value chains, to benefit our stakeholders, society, and the planet overall," he said in a statement today.

Bursa Malaysia said validated science-based GHG emissions reduction targets provide a clear path to reduce its greenhouse gas emissions and mitigate the severe impact of climate change, and ensure sustainable business growth.

For near-term targets, the company said it commits to reduce absolute Scope 1, 2 and 3 GHG emissions 50 per cent, as well as increasing the annual active sourcing of renewable electricity to 100 per cent by 2030.

As for long-term, it is committed to reduce  absolute Scope 1, 2 and 3 GHG emissions 90 per cent by 2050.

"In 2024 and beyond, Bursa Malaysia will continue to improve its operational practices, aligning them with proven environmental best practices."

"In addition, the exchange will closely monitor its GHG emissions in relation to the 2030 and 2050 targets, ensuring that the necessary measures are implemented to drive the organisation's decarbonisation journey," it added.

https://www.nst.com.my/business/corporate/2024/08/1098948/bursa-malaysias-decarbonisation-targets-validated-global