MDEC Zeroing in on Sustainable Digital Economy

Raising a sustainable digital economy takes a lot of effort in making green moves in other sectors as well

The COVID-19 pandemic has been a wake-up call for all of us and it has rightly focused attention on the actions we all need to take to build a more inclusive and sustainable digital economy for our nation. It is something that Malaysia Digital Economy Corporation (MDEC) takes very seriously.
 
For some time, MDEC has aligned all its activities with the United Nations Sustainable Development Goals (SDGs), as these provide a solid framework for generating real impact. In recent years, it has focussed over 95% of all activities on four specific SDGs: Quality Education, Decent Work & Economic Growth, Industry, Innovation & Infrastructure and Reduced Inequality. 
 
However, MDEC fully recognises the increasing role that Environmental, Social and Governance (ESG) principles and practices will play in ensuring Malaysia's digital economy's future growth and competitiveness and are committed to doing more by raising our sustainability ambitions substantially.   
 
Establishing a new ESG and Sustainability Department within MDEC is imperative to take this ambitious plan forward. To achieve this, MDEC is taking a two-pronged approach.

Firstly, we must demonstrate our commitment by "walking the talk" by adopting ESG principles and practices internally within MDEC. As a first step, in line with international best practice, MDEC is commissioning an independent, evidence-based Materiality Assessment to identify and assess potential ESG issues that could affect MDEC and its stakeholders. By analysing and condensing these issues into a prioritised short-list of topics, the Materiality Assessment will form the ESG roadmap for the future, informing our strategy, targets, and reporting.
 
Secondly, with sustainability, which many tech businesses care about profoundly. The most significant contribution MDEC can make to addressing this is by raising awareness and understanding of ESG issues amongst companies across the ecosystem to accelerate take-up, thereby ensuring their ongoing resilience and prosperity.