Petronas has allocated 20 per cent of its capital expenditure (capex) for sustainability and green project investments over the next five years, demonstrating that it is committed to environmental, social and governance (ESG) principles. This is a positive sign in light of the recent increase in oil and gas prices that has seen some major companies prioritise profits over sustainability. Agenda Advisory Sdn Bhd principal consultant & Kristoff Capital group business development director Daniel KS Chang said that Petronas will need to manage its innovation output and be a catalyst for energy and environmental ecosystem reform.

Source: The Sun