Bursa Malaysia launches CSI solution to boost domestic ESG goals

Bursa Malaysia, the main stock exchange in Malaysia, has launched the Centralised Sustainability Intelligence (CSI) solution to boost the adoption of Environmental, Social, and Governance (ESG) practices among Malaysian firms, thus enhancing their competitiveness on the global stage.

According to FinTech News Malaysia, the CSI solution was developed to provide a cost-effective and streamlined approach to complying with diverse ESG reporting standards. This platform aims to assist Malaysian businesses in reducing their environmental impact and elevating their global market presence.

Bursa Malaysia is instrumental in the development and regulation of Malaysia’s capital market, offering a variety of services including trading, clearing, settlement, and depository functions.

The new solution simplifies the ESG reporting process, equipping businesses with essential tools to measure and disclose their carbon emissions and other sustainability metrics. It’s anticipated to play a significant role in the growth and decarbonization of industries in Malaysia, particularly within the manufacturing sector.

Available to all companies, both listed and unlisted, the CSI solution is designed to be a universal tool beneficial to the entire business community. It ensures ESG disclosures align with global standards such as the IFRS Sustainability Disclosure Standards, TCFD, GRI, and the Greenhouse Gas Protocol, helping Malaysian companies attract international investors and customers who prioritize transparent and detailed sustainability reporting.

Key sectors like construction, oil and gas, manufacturing, logistics, and automotive are among the early adopters of the platform, underscoring its broad applicability.

The initiative was unveiled by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade & Industry (MITI), and supports MITI’s New Industrial Master Plan (NIMP) 2030 and the National Semiconductor Strategy (NSS). It aims to facilitate sustainable financing for companies, including SMEs.

Companies reducing emissions through the CSI solution are eligible for preferential financing rates from partner banks. YB Senator Tengku Zafrul emphasized the government’s goal for all sectors linked to the NIMP and NSS to utilize the CSI solution for uniform ESG metric disclosure, aiding policy makers in supporting sustainable business practices.

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Datuk Muhamad Umar Swift, CEO of Bursa Malaysia, noted that the CSI solution is part of the effort to support a just transition, giving Malaysian companies greater access to green financing and thereby improving their valuation and the overall vibrancy of the Malaysian capital market.

Source: fintech.global

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