A sustainable company is a business that operates in a way that minimises its negative impact on the environment, society, and economy while maximising its positive impact. Sustainable companies in Malaysia is a company that takes into account the long-term consequences of their actions and decisions and strives to create value for all stakeholders, including shareholders, employees, customers, suppliers, and the community.
A sustainable company is committed to reducing its carbon footprint, conserving natural resources, promoting social justice and equality, and fostering economic growth and development. It is a company that recognizes that sustainability is not just a moral imperative, but also a business imperative, and that by embracing sustainability, it can create a competitive advantage and ensure its long-term success.
What is SDG and how it benefit companies in Malaysia?
SDG stands for Sustainable Development Goals, which is a set of 17 global goals established by the United Nations in 2015.
These goals aim to address various social, economic, and environmental challenges, such as poverty, inequality, climate change, and environmental degradation.
Companies or SDG business in Malaysia can benefit from aligning their strategies and operations with the SDGs in several ways:
- Enhanced reputation and brand value: By adopting sustainable practices and contributing to the SDGs, companies can improve their image and reputation, attracting customers who prefer to support responsible businesses.
- Risk management: Addressing sustainability issues and contributing to the SDGs can help companies identify and mitigate risks, such as resource scarcity, regulatory changes, and climate-related impacts, which can negatively affect their operations and financial performance.
- Innovation and market opportunities: Embracing the SDGs can inspire companies to innovate and develop new products, services, and business models that address global challenges, leading to new market opportunities and potential competitive advantages.
- Cost savings and operational efficiency: Implementing sustainable practices can lead to cost savings through reduced resource consumption, waste management, and energy use, ultimately improving a company’s operational efficiency.
- Attraction and retention of talent: Employees are increasingly seeking employers that share their values and commitment to sustainability. By aligning with the SDGs, companies can attract and retain talented professionals who are motivated to contribute to a more sustainable future.
- Access to capital: Investors are increasingly considering companies’ environmental, social, and governance (ESG) performance when making investment decisions. Demonstrating commitment to the SDGs can improve a company’s ESG profile, potentially leading to increased access to capital and better financing terms.
- Strengthened stakeholder relations: By engaging with stakeholders, such as suppliers, customers, and local communities, in implementing sustainable practices and contributing to the SDGs, companies can build stronger relationships and foster collaboration, which can contribute to long-term business success.
How do I choose to work with the best sustainable companies in Malaysia?
Here are some tips on how to choose the best sustainable companies in Malaysia:
- Look for companies that have a clear sustainability policy and report on their sustainability performance regularly. This can be found on their website or annual reports.
- Check if the company has received any sustainability awards or certifications, such as the Global Reporting Initiative (GRI) or the United Nations Global Compact (UNGC).
- Research the company’s environmental, social, and governance (ESG) practices, including their carbon footprint, waste management, employee welfare, and community engagement.
- Consider the company’s industry and how it impacts the environment and society. For example, a renewable energy company would be more sustainable than a coal mining company.
- Look for companies that are transparent and willing to engage with stakeholders, including customers, employees, and investors, on sustainability issues.
- Check if the company has a positive reputation and is well-regarded by sustainability experts and organizations.
- Consider investing in sustainable funds or ETFs that focus on companies with strong ESG practices. These funds are managed by professionals who have expertise in sustainable investing.
List of sustainable companies in Malaysia
Here are some of the list of sustainable companies in Malaysia:
- Tenaga Nasional Berhad (TNB) – TNB is Malaysia’s largest electricity utility company committed to promoting sustainable energy practices. The company has invested heavily in renewable energy sources such as solar, wind, and hydropower.
- YTL Corporation Berhad – YTL is a diversified conglomerate with interests in construction, utilities, and property development. The company has a strong focus on sustainability and has implemented various initiatives to reduce its carbon footprint and promote sustainable practices.
- Gamuda Berhad – Gamuda is a leading infrastructure and property developer in Malaysia. The company has a strong commitment to sustainability and has implemented various initiatives to reduce its environmental impact, including the use of green building materials and the promotion of sustainable transportation.
- CIMB Group Holdings Berhad – CIMB is one of Malaysia’s largest financial institutions and has a strong commitment to sustainability. The company has implemented various initiatives to reduce its environmental impact, including the use of renewable energy sources and the promotion of sustainable finance practices.
- Nestle Malaysia Berhad – Nestle is a leading food and beverage company in Malaysia and has a strong commitment to sustainability. The company has implemented various initiatives to reduce its environmental impact, including the use of sustainable packaging materials and the promotion of sustainable agriculture practices.
- Eco World Development Group Berhad – A property development company committed to sustainable development practices and green initiatives.
- Sime Darby Plantation – The world’s largest producer of certified sustainable palm oil, focusing on responsible agricultural practices.
- Telekom Malaysia – A telecommunications company that emphasizes sustainability in its operations, including energy efficiency and reducing carbon footprint.
- Top Glove Corporation Berhad – The world’s largest manufacturer of gloves, Top Glove is committed to sustainability through responsible sourcing, waste reduction, and environmental protection.
- Maxis Berhad – A telecommunications company that prioritizes sustainability, focusing on reducing energy consumption, carbon emissions, and responsible supply chain management.
- Axiata Group Berhad – A telecommunications company with a strong commitment to sustainability, focusing on reducing environmental impact through energy efficiency and responsible waste management.
- UMW Holdings Berhad – A diversified conglomerate engaged in various sectors, UMW Holdings emphasizes sustainability in its operations through energy efficiency, waste management, and responsible procurement practices.
- IOI Corporation Berhad – A leading palm oil producer that has made significant efforts to adopt sustainable practices, including responsible sourcing, environmental conservation, and community development.
- Sunway Group – A conglomerate engaged in various sectors, Sunway Group is committed to sustainability through its Sunway Sustainability Framework, which focuses on environmental stewardship, social inclusion, and economic prosperity.
Please note that while these companies have made efforts towards sustainability, it is important to conduct further research to get a comprehensive understanding of their sustainability practices.
What is an example of sustainable development in Malaysia?
An example of sustainable development in Malaysia is the Gamuda Cove masterplan development.
Located in the southern part of the Klang Valley, Gamuda Cove is a 1,530-acre township designed with sustainability and environmental conservation in mind.
The development incorporates a variety of sustainable features such as:
- Green spaces and biodiversity conservation: Gamuda Cove features a 60-acre central park, a 24-acre eco-friendly Discovery Park, and a 7-acre recreational park. The development also focuses on preserving the natural forest and wetland ecosystem surrounding the township.
- Integrated water management: The development includes a smart water management system that minimizes water wastage, uses rainwater harvesting, and treats wastewater for reuse in irrigation and other non-potable applications.
- Sustainable transportation: Gamuda Cove promotes the use of public transportation and eco-friendly mobility options with a dedicated Bus Rapid Transit (BRT) system, cycling paths, and pedestrian walkways.
- Energy-efficient buildings: The township features green buildings designed with energy efficiency in mind, incorporating features such as natural ventilation, energy-efficient lighting, and solar panels.
- Waste management: Gamuda Cove implements a centralized waste management system that promotes recycling and efficient waste disposal.
By integrating sustainable practices and features into the design and development of Gamuda Cove, Gamuda demonstrates its commitment to creating environmentally responsible and sustainable communities in Malaysia.
What is considered a sustainable company in Malaysia?
A sustainable company is one that operates in a way that minimizes its negative environmental, social, and economic impact while maximizing its positive contributions to society, the environment, and stakeholders.
This includes taking into account the long-term effects of its business practices, making responsible decisions, and focusing on the triple bottom line: people, planet, and profit.
Sustainable companies often incorporate sustainable practices into their operations, such as reducing waste, using renewable energy, promoting diversity and inclusion, and engaging in fair labor practices.
They also strive to continuously improve and innovate in an effort to minimize their footprint, contribute positively to the communities they operate in, and maintain profitability.
What are the differences between sustainable companies and eco-friendly companies in Malaysia?
Sustainable companies and eco-friendly companies in Malaysia share the common goal of minimizing their environmental impact. However, there are some differences between the two:
- Scope: Sustainable companies focus on a broader range of sustainability practices beyond just the environment. They take into account social and economic aspects, including fair treatment of workers, community development, and ethical business practices. On the other hand, eco-friendly companies primarily concentrate on reducing their ecological footprint and minimizing environmental harm.
- Long-term perspective: Sustainable companies adopt a long-term perspective, aiming to create lasting positive change in society and the environment. They prioritize practices that ensure the well-being of future generations. In contrast, eco-friendly companies may have a narrower focus on immediate environmental concerns and reducing their impact in the short term.
- Holistic approach: Sustainable companies seek to integrate sustainability principles into all aspects of their operations, including supply chain management, product design, waste management, and energy consumption. They strive for a comprehensive approach that considers the entire life cycle of their products or services. Eco-friendly companies, although environmentally conscious, may not necessarily address all areas of their operations in the same depth.
- Certification and standards: Sustainable companies often pursue various certifications and adhere to recognized sustainability standards such as ISO 14001 (Environmental Management Systems) or B Corp certification. These certifications validate their commitment to sustainable practices beyond just being eco-friendly. Eco-friendly companies might focus more on obtaining eco-labels or certifications specific to environmental aspects, such as the Forest Stewardship Council (FSC) certification for sustainable sourcing of wood products.
- Stakeholder engagement: Sustainable companies actively engage with their stakeholders, including employees, customers, suppliers, and communities, to ensure their practices align with their expectations and address their concerns. They may involve stakeholders in decision-making processes and seek their input. Eco-friendly companies may not necessarily have the same level of stakeholder engagement.
It is important to note that these differences are not mutually exclusive, and some companies in Malaysia may strive to be both sustainable and eco-friendly.
The terms are often used interchangeably, and the level of commitment to sustainability practices can vary among companies.
Environment company vs sustainable company in Malaysia
Both environment companies and sustainable companies in Malaysia play a crucial role in promoting and protecting the environment. However, there are some differences between the two.
Environment companies in Malaysia primarily focus on addressing environmental issues and providing solutions to environmental problems.
These companies may offer services such as waste management, pollution control, and environmental consulting. Their main objective is to minimize the negative impact of human activities on the environment.
On the other hand, sustainable companies in Malaysia aim to operate in a way that meets the needs of the present generation without compromising the ability of future generations to meet their own needs.
These companies adopt practices that promote social, environmental, and economic sustainability.
They may focus on reducing carbon emissions, promoting renewable energy, implementing sustainable supply chain practices, and promoting social responsibility.
While both types of companies have overlapping objectives, sustainable companies have a broader focus that encompasses not only environmental concerns but also social and economic aspects of sustainability.
They strive to create a balance between people, planet, and profit.
Environment companies in Malaysia focus specifically on addressing environmental issues, while sustainable companies have a broader focus on promoting social, environmental, and economic sustainability.
Both types of companies are essential for creating a greener and more sustainable future in Malaysia.
What makes a good sustainable company in Malaysia?
A good sustainable company in Malaysia is one that prioritizes environmental, social, and economic sustainability in its operations. This includes:
- Environmental sustainability: The company should implement environmentally friendly practices such as reducing waste, conserving energy, and using renewable resources.
- Social sustainability: The company should prioritize the well-being of its employees, customers, and the communities it operates in. This includes fair labor practices, promoting diversity and inclusion, and supporting local communities.
- Economic sustainability: The company should have a long-term financial strategy that balances profitability with social and environmental responsibility. This includes investing in sustainable technologies and practices, and ensuring that its supply chain is ethical and sustainable.
Overall, a good sustainable company in Malaysia is one that takes a holistic approach to sustainability, balancing the needs of the environment, society, and the economy.
Why choose to work with sustainable company in Malaysia?
Here are some reasons why one might choose a sustainable company in Malaysia:
- Environmental protection: Sustainable companies in Malaysia prioritize environmental protection and take measures to reduce their carbon footprint. This can include using renewable energy sources, reducing waste, and implementing sustainable practices in their operations.
- Social responsibility: Sustainable companies in Malaysia also prioritize social responsibility and take steps to ensure that their operations do not harm local communities. This can include fair labor practices, supporting local communities, and promoting diversity and inclusion.
- Long-term profitability: Sustainable companies in Malaysia often have a long-term focus on profitability, rather than short-term gains. This can lead to more stable and sustainable growth over time.
- Reputation: Sustainable companies in Malaysia often have a positive reputation among consumers and investors, which can lead to increased brand loyalty and financial success.
- Regulatory compliance: Sustainable companies in Malaysia are often in compliance with local and international regulations related to environmental protection and social responsibility. This can help them avoid legal and financial risks associated with non-compliance.