Covid-19 brings sustainability issues to the centre stage for businesses

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PETALING JAYA: The Covid-19 pandemic has amplified the demand for businesses to address complex supply chains and become more transparent, given the g...

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File picture of an office with bamboo floors in a ‘green’ building in Washington. – REUTERSPIXThe Covid-19 pandemic has amplified the demand for businesses to address complex supply chains and become more transparent, given the growing focus on their response to the crisis, according to AmBank Research’s chief economist, Anthony Dass.

He said the emphasis is on board composition and quality, environmental risks and opportunities, corporate strategy and capital allocation, compensation that promotes long-term growth, and human capital management. “While managing Covid-19’s immediate impacts will be the top priority for businesses, reporting historical environment, social and governance data and performance remains essential.”

“Going forward, it will be essential for businesses to provide a narrative that identifies what change in historical performance relates to Covid-19 factors and what change results from previously existing plans – numbers on their own will be impossible for readers to interpret,” said the head economist.

The survey found that 98% of the respondents evaluate non-financial performance based on corporate disclosures, with 72% saying they conduct a structured, methodical evaluation. In Malaysia, it highlighted that the demand for sustainable finance, focusing on ESG considerations, has been gaining momentum since the launch of the Sustainable Responsible Investment framework in 2014.

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