Following the amendments to Bursa’s Listing Requirements on 8 October 2015, a listed issuer is required to include in its annual report a Sustainability Statement or Report based on prescribed criteria. The Sustainability Statement replaced the Corporate Sustainability Report previously mandated by Bursa.

The updated Malaysian Code on Corporate Governance 2021, which was released by Securities Commission Malaysia on 28 April 2021, sets out 4 new Practices & a Step-up which focus on, interalia, Sustainability Management and Reporting for example the Board, together with Management, is tasked to oversee the governance of sustainability in the listed issuer as a group, including setting the group’s sustainability strategies, priorities and targets and ensuring such strategies, priorities and targets, including the performance against these targets are communicated to internal and external stakeholders. The Board is also required to identify a designated person within Management to provide a dedicated focus to manage sustainability strategically, including the integration of sustainability considerations in the group’s operations.

To assist Sustainability Management and Reporting by listed issuers, Bursa has published the Sustainability Reporting Guide (“Guide”), augmented by six (6) Toolkits (“Toolkits”), that provide structured guidance in fulfilling the requirements.

Sustainability management and communication via reporting is seen to be an onerous requirement to most listed issuers as it entails comprehensive reporting of their sustainability practices, covering the economic, social, environmental and governance perspectives, and how well they have performed, including action plans for improvements. This session provides an overview to participants on the Sustainability agenda, including its management and reporting as envisaged under the Listing Requirements and the updated MCCG 2021.