Although Malaysia is ranked mid-range globally in terms of environmental, social and governance (ESG) reporting, the country is still considered to be far ahead of its regional peers, says Grant Thornton Malaysia. Its country chief executive officer Kishan Jasani said in certain ESG reporting metrics, Malaysia is even ahead of Singapore and Hong Kong. Kishan added many local companies previously had complied with ESG reporting requirements simply because it was mandatory, but many are now beginning to view ESG reporting beyond compliance. While there is an increasing awareness of the need to be ESG-compliant, there is still much confusion over the many different types of standards out there. On this note, Kishan said the International Sustainability Standards Board (ISSB) created by the International Accounting Standards Board will be pivotal in shaping the future of ESG reporting in Malaysia and globally.

Source: The Star