UNGCMYB launches MYClimateAction Guide

KUALA LUMPUR, July 29 -- The United Nations Global Compact Network Malaysia and Brunei (UNGCMYB), in partnership with Tata Consultancy Services (TCS Malaysia), Nottingham University Business School (NUBS) and SENTRAL College Penang, has launched the inaugural MYClimateAction Guide.

UNGCMYB executive director Faroze Nadar said the guide is one of the first climate action guides targeted at Malaysia’s private sector, with the aim of driving positive action on climate change towards achieving a carbon net zero economy.

“The Malaysia-centric guide was conceived to encourage and enable greater uptake of climate change action through a pragmatic and practical approach, serving as a reference point for corporate leaders, business schools and relevant parties to begin their climate action journey,” he said at the virtual launch today.

The guide puts forward the business case for climate change action through the analysis of physical and transitional risks faced by corporations in Malaysia and the provision of a unique total climate management framework that guides business leaders on their journey to decarbonisation, simplifying the often-complex approach to organisational climate change action.

“Globally, businesses only have until 2030 to avert runaway climate change, and it is critical for companies of all sizes to take action, especially in Malaysia where as many as 98.5 per cent of business establishments are small and medium enterprises (SMEs).

“The private sector is a crucial partner in the whole-of-nation effort to combat climate change,” he said.

“With the MYClimateAction Guide, we provide a simple and pragmatic approach for companies to easily understand the risks; opportunities from a business perspective; and ways to initiate climate change action,” he said.

In fact, taking climate action is a business imperative -- not only because climate change threatens to increase resource scarcity and the cost of doing business and disrupt supply chains, but also because of increasing focus on a greener supply chain.

“Malaysian companies will eventually need to adhere to stricter climate-friendly requirements from international clients that have already endorsed net zero-emission targets,” he added.

The MYClimateAction Guide is presented in three volumes -- an analysis of physical and transitional risks, a total climate management organisational framework and case studies of climate action taken by leading Malaysian corporations, while the MYClimateAction Guide website at http://ungcmalaysia.org/myclimateactionguide offers additional dynamic resources to help businesses on their climate action journey.

-- BERNAMA