Integrate ESG principles into economic, industrial policies for business sustainability, says S’wak deputy minister
MIRI (May 28): Integration of Environmental, Social and Governance (ESG) principles by the Sarawak government into its economic and industrial policies underscores the emphasis on sustainable development and responsible governance, said Datuk Dr Malcolm Mussen Lamoh, Deputy Minister of International Trade, Industry and Investment (Mintred). Speaking at the Environmental, Social and Governance Training workshop here today, he said this commitment fosters an environment where businesses can thrive while adhering to high standards of ESG compliance, embedding these principles into the fabric of Sarawak’s industrial and commercial activities. He noted that Sarawak is rapidly becoming a magnet for foreign investors, with notable expansion projects and substantial investments underway in the state, and Sarawak’s journey towards ESG compliance is aligned with the global shift towards sustainability. “We must recognise that our local actions have global implications. By adopting and adhering to ESG principles, Sarawak can set a benchmark for other regions and states, showcasing that economic development and environmental sustainability can go hand in hand,” he said, adding this resonates with Sarawak’s Post-Covid Development Strategy (PCDS) 2030 roadmap to become a thriving, resilient and sustainable region, emphasising innovation, inclusivity and environmental stewardship. Furthermore, Sarawak’s dedication to sustainable development has attracted global attention, garnering favourable ratings from respected international rating agencies such as Standard and Poor’s and Moody’s Investor Services. These endorsements, he pointed out, validate Sarawak’s strategy to attract high-quality investments and drive large-scale development, all while adhering to ESG principles. In addition, it has implemented robust policies and procedures to ensure transparency, integrity and good governance, with a strong focus on improving the ease of doing business in accordance with ESG principles. One of the steps taken by Mintred is training workshops which serve as a platform to equip industries and stakeholders with the knowledge and tools necessary to implement effective ESG strategies so that businesses remain competitive and sustainable in the global market, he said. He commended the organisers, InvestSarawak, who have been working closely with his ministry, UN Global Compact Network Malaysia and Brunei (UNGCMYB) and Alliance Bank for holding this significant event in Miri. He said the support of speakers, participants, business chambers and associations underscored their collective dedication and commitment to this cause. “Your efforts are crucial in driving the ESG agenda forward and ensuring that Sarawak remains at the forefront of sustainable development,” he added.
