KUCHING: Sarawak hopes that environmental, social, and governance (ESG) evaluation will be further introduced in the state, placing Sarawak among the world’s forerunners in such efforts.
Assistant Minister of Energy and Environmental Sustainability Dr Hazland Abang Hipni said the ESG was an internationally recognised programme to identify and measure the impact of an organization’s policies and procedures related to environmental sustainability and social standards.
He said it has become an increasingly important criterion for inclusive, equitable and sustainable growth.
“This is a very significant global criterion and it is relevant to most of the industries because it ranks a company according to the ESG standards.”
“The ESG evaluation will determine whether an investment will be accepted or not and vice versa – as this could the investor/company is running responsibly, ensuring sustainable development for both companies and the communities.”
“Most of the companies that ignore or fail to adapt the ESG will be deprived of equity financing facilities,” he said.
Dr Hazland said this at the launching of the 10th Chief Minister’s Environmental Award (CMEA) 2021/2022 at The Waterfront Hotel here today.
He suggested that CMEA could be the beginning of Sarawak’s very own evaluation heading towards ESG.
Elaborating on sustainable development, he stressed on the importance of using clean energy resources, which would be more environmentally-friendly as it would not produce excessive waste and pollution.
“Sarawak is focused on three sources of clean green energy, namely hydropower, solar energy, and hydrogen. Hence, we are on the right track in improving the environment and moving to a more sustainable future.
Under the 12th Malaysia Plan (12MP), he said, Sarawak will do a study on the state’s own climate change policy and a low carbon society blueprint, especially in the four major cities, namely, Kuching, Miri, Bintulu, and Sibu.
“The study will cover the energy, transport, industry and agriculture sectors as well as land use and waste management,” he said.
Dr Hazland also expressed his gratitude to the Natural Resources and Environment Board (NREB), Sarawak Business Federation (SBF), and all agencies which had contributed towards CMEA, noting that the winners would be announced by November.