MALAYSIAN GOVERNMENT
Malaysia is committed to sustainability and managing climate change by incorporating this agenda in various masterplans and roadmaps, including the Twelfth Malaysia Plan (2021-2025). This 5-year national plan is designed for socio-economic progress by ensuring inclusion, social cohesion and improved general well-being.
Malaysia is pursuing green development to become a carbon-neutral future. The successful implementation of the Twelfth Malaysia Plan will contribute to the 2030 Agenda for Sustainable Development.
As a manifestation of our commitment in embracing sustainability, the National Trade Blueprint 2021-2025 (NTBp) was formulated with one of its key pillars focusing on adopting sustainable economic practices among Malaysian businesses.
In addition to NTBp, there are also other initiatives introduced by the government namely the Shared Prosperity Vision 2030, SDG Roadmap Phase 2 (2021 – 2025) and Zero Single-Use Plastic Roadmap (2018 – 2030). The government has long recognised the importance of sustainability in addressing issues related to Environmental, Social and Governance (ESG) that will ultimately enhance competitiveness and ensure business continuity of exporters.
To further strengthen the sustainability agenda for Malaysia’s economy and trade, MATRADE has embarked on an initiative known as Sustainability Action Values (SAVE), a Corporate Shared Values Programme that engages exporters to embrace the best practices of sustainability. Through this initiative, three strategies were introduced, namely the thought leadership initiatives, identifying key stakeholders’ issues, concerns, and expectations as well as establishing a framework of action.
The Government of Malaysia is placing greater emphasis on developing the green economy, which will present many new opportunities for business. Its role as a major trading nation has motivated companies to adopt sustainable business practices.
As an exporter to over 200 countries, Malaysia is among the key players in global trade.
Sustainability has become a trending topic in recent years, as more businesses strive to adopt environmentally-friendly practices. This pressure is coming not only from consumers and clients but also from the government, which has enacted regulations to promote environmental stewardship. In response, many companies have implemented sustainability initiatives, such as reducing energy consumption, using recycled materials, investing in renewable energy and adopting good practices.
Further, Malaysian companies have complied with international sustainability standards to tap into new markets. By doing so, they are able to better compete with their global counterparts, particularly their commitment towards the ESG agenda.
Malaysia offers a wide array of products and services that meet international standards and requirements. Sound policies and facilitation, as well as advisory services, are in place to ensure exporters are well equipped with information and adequate knowledge to stay relevant and competitive internationally. In addition, the country has a robust legal and regulatory framework that provides the necessary support for businesses to operate sustainably alongside various incentives.
Malaysian companies have been obtaining sustainable achievements in a variety of ways. Many have received certifications and won awards for their sustainability practices. This Exclusive From Malaysia (EFM) edition showcases companies that adhere to the sustainability agenda in green technology, E&E, lifestyle products and more.
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