The Security Commission said the Advisory Committee on Sustainability Reporting (ACSR) will be conducting an online public consultation next month on the use of the sustainability disclosure standards issued by the International Sustainability Standards Board (ISSB) in Malaysia.
The ACSR, chaired by the Securities Commission Malaysia (SC) and formed with the endorsement of the Ministry of Finance, comprises representatives from Bank Negara Malaysia, Bursa Malaysia Berhad, Companies Commission of Malaysia, Audit Oversight Board and Financial Reporting Foundation. The ISSB developed its first two standards after extensive feedback and calls from the G20, the Financial Stability Standards Boards, the International Organisation of Securities Commissions (IOSCO) and the business and investor communities for a common standard to disclose sustainability information, including climate-related risks and opportunities. The first two standards are IFRS S1 (General Requirements for Disclosure of
Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures).
At the recent 28th UN Climate Change Conference (COP28), investors with more than USD120 trillion of assets under management voiced their support for the use of the ISSB Standards.
Commenting on this, SC Chairman Dato’ Seri Dr Awang Adek Hussin said: “The financial sector, particularly the capital market, must continue to facilitate financing and investments in support of the Government’s key initiatives to address
sustainability-related issues including the impact of climate change on the economy.”
