Beyond compliance in reporting: Quality matters

Malaysia’s sustainability reporting landscape is evolving, with full compliance achieved under mandatory requirements. However, experts emphasize the need for meaningful and quality reporting, especially among small and medium enterprises (SMEs). The launch of the National Sustainability Reporting Framework (NSRF) in 2024, based on global standards, provides a structured approach for companies to address material and climate-related issues. Yet, further capacity-building efforts are crucial for SMEs to effectively report and align with sustainability goals. 

Phang Oy Cheng, Head of ESG at KPMG in Malaysia, highlights that the importance of identifying material ESG issues and linking them to risks, particularly for long-term resilience. This involves assessing how these issues could affect a company's operations, financial performance or reputation. 

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