Malaysian Timber Council to launch ESG charter by year-end

By Siti Noor Afera Abu

KUALA LUMPUR, July 28 (Bernama) -- The Malaysian Timber Council (MTC) will launch an environmental, social and corporate governance (ESG) charter in the fourth quarter of this year as a guide and reference for players in the country’s timber industry.

MTC chief executive officer Muhtar Suhaili said the charter will be a platform for industry players to conduct business in line with ESG.

"MTC initiated this ESG charter with the cooperation of industry players to ensure that it meets their needs and whatever that is lacking," he told Bernama at the Malaysia International Agricommodity Expo and Summit (MIACES) 2022 yesterday.

He explained that companies and international industry players often ask what Malaysia's initiatives, particularly for MTC, are to ensure that the country’s timber industry is based on social and corporate governance that coincides with the existing guidelines.

"We want to learn by example and we will promote this ESG charter so that we can address sustainability issues in the industry," he said.

On the development of the circular economy which encourages recycling and reuse to reduce wastage, Muhtar said MTC is in discussions with the Malaysian Timber Industry Board to implement the National Bamboo Development Policy as a circular economy initiative.

“MTC will also establish a wood recycling centre where it is also in discussions with related parties," he said.

In another development, MTC signed a memorandum of understanding with the Vocational Technical Education and Training Division to cooperate in producing professionals in the field of woodworking in the country.

Muhtar said MTC’s aim to introduce the programme is to help vocational students gain experience and training in the timber industry, in addition to giving students early exposure to career opportunities in the sector.

MTC also established a partnership with the Malaysian Panel-Products Manufacturers' Association (MPMA) in a community farming project to realise the benefits of planting trees in residential areas.

-- BERNAMA