ESG vital for economic, environmental balance — MB
10 Oct 2024
The Selangor government’s commitment to environmental, social and governance (ESG) best practices goes beyond mere rhetoric; it establishes a solid framework to ensure economic development does not compromise environmental integrity and community well-being.
Menteri Besar Dato’ Seri Amirudin Shari said the ESG implementation offers long-term benefits in terms of environmental sustainability and in enhancing economic and social resilience.
“Globally, we are witnessing companies that comprehensively adopt ESG becoming more resilient in the face of economic challenges, climate change and social pressures.
“In Selangor, ESG has become a priority in all development planning, as evident in state policies like the Selangor Carbon Neutral 2050 initiative and various environmentally friendly projects,” he said at the Klang Sustainable Convention 2024 ESG for SDG here today.
The convention, organised by the Klang Royal City Council, was officiated by Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir.
Amirudin said ESG integrates environmental responsibilities with transparent corporate governance and community participation in every development process, ensuring all stakeholders — from the government and private sector to local communities — are considered in policy and planning decisions.
He said implementing sustainable development goals (SDGs) is not a light effort confined to government levels alone; it requires the comprehensive involvement of all stakeholders to ensure the integration of its goals into state and local policies positively impacts the economy, society and the local environment.
“Therefore, ESG and SDGs are not just awareness initiatives or environmental sustainability warnings; they represent a concrete framework for economic development that requires active engagement from the entire community, starting from the government to the grassroots level,” he said.
Meanwhile, Akmal Nasrullah said the adoption of SDG and ESG principles should be recognised as part of the government’s global agenda to attract investments into the country.
He said to compete effectively on the global stage, a strong commitment to ESG is crucial, as it not only enhances efficiency but also results in positive economic outcomes, such as energy savings and prolonging the lifespan of machinery and infrastructure.
“We must all recognise these two concepts are not just attractions or slogans, but real prerequisites for investors to make investments in this country,” he said.
Source: Bernama
