ESGAM at the i-ESG Framework Launch by the Ministry of Investment, Trade & Industry (MITI)

ESGAM had the privilege of attending the launch of the National Industry Environmental, Social, and Governance (ESG) Framework by the Ministry of Investment, Trade & Industry (MITI). Here are some key takeaways:

πŸš€ i-ESG Framework Launch:
MITI launched the i-ESG Framework, a crucial step in preparing Malaysia’s manufacturing sector for embracing ESG principles. This framework is not just about compliance but is a roadmap for businesses to integrate ESG considerations into their operations.

🌐 Global ESG Opportunities:
With a focus on tapping into the US$12-trillion global market for ESG-focused opportunities, the i-ESG Framework aligns with the global Push for Net Zero mission, a key initiative of the New Industrial Master Plan 2030.

🌱 Four Pillars of i-ESG:
The framework encompasses four pillars – standards, financing, capacity building, and market mechanism – along with 17 strategies and 50 deliverables. It’s designed to accelerate the transition towards sustainable practices, especially for Micro, Small, and Medium Enterprises (MSMEs).

πŸ“Š Tools for Businesses:
MITI introduced tools like the ESG Readiness Assessment (i ESGReady) and the i-ESG Starter Kit (i-ESGStart) in Phase 1.0. These resources help companies understand and evaluate their current ESG adoption level and provide a step-by-step guide for sustainability reporting.

πŸ“† Upcoming Clinics:
MITI will conduct clinic sessions to empower and guide 50 companies in producing their first sustainability report. This phased approach ensures a ‘Just Transition,’ allowing businesses to meet the demands of Phase 2.0 “Accelerate ESG” (2027 – 2030).

🌎 KenalESG Outreach Programme:
MITI has initiated the “KenalESG” outreach programme to raise ESG awareness and introduce the i-ESG Framework to industries. This programme will cover various states, promoting inclusivity and ensuring that no one is left behind on the journey towards ESG objectives.

Let’s applaud this initiative for a sustainable future! πŸŒ±πŸ’š #ESG #SustainabilityJourney #iESGFramework #JustTransition

From the left: Mr. Eric Chong, Mr. CS Chin, Adj. Practice Professor Cheah Kok Hoong, YB Kian-Ming Ong, Mr. Jeffrey Ooi, Dr Wong Lai Yong

2nd Photo: ESGAM together with Datuk Khairol Anuar, SIRIM Chairman (on the left), and YB Chin Tong Liew, Deputy Minister of MITI (Center)