ESGAM President Discussed on ESG Adoption and Digital Innovation at BMSC 2023

In a pivotal panel discussion during the Business Management and Social Sciences Conference 2023 at the New Era University College (NEUC), ESGAM President Adj. Practice Professor Cheah Kok Hoong played a prominent role, contributing valuable insights to the overarching theme of “Exploring the Intersection of Technology, Society, and Business: Advancing the Future of Digital Innovation and Sustainable Development.” The session, moderated by Mr. Siok Jin Lim, addressed crucial questions on the current state of ESG adoption in Malaysia and the integration of IT solutions into ESG strategies. Professor Cheah emphasized the diverse examples across industries, citing innovations in renewable energy, energy efficiency, sustainable aviation fuels, biogas, and advancements in environmental monitoring through technologies like intelligent chiller energy efficiency and smart farming drones.

Throughout the discussion, the panel underscored the significance of digitalization as the foundational step towards ESG integration. The president highlighted that Malaysian businesses, though at varying levels, are not starting from scratch, with elements of environmental, social, and governance practices already in place. The conversation delved into the role of technology in sustainable supply chains, circular economy processes, and the need for further innovation, particularly by SMEs. The panel also explored the role of education, the challenges within SMEs, and the importance of integrating ESG into the curriculum. As businesses grapple with mandatory reporting and digitalizing ESG data, the call for real-time monitoring and tracking emerged as a crucial aspect for effective sustainability initiatives. The session not only dissected the current ESG landscape but also sparked a dialogue on the pivotal role of technology in shaping Malaysia’s sustainable future.