The Malaysian Investment Development Authority (MIDA) and the UN Global Compact Network Malaysia & Brunei (UNGCMYB) have signed a Memorandum of Understanding (MoU) to accelerate the adoption of environmental, social, and governance (ESG) principles among Malaysian businesses. The partnership aims to support the country’s transition towards a sustainable and inclusive economy.
The MoU leverages MIDA’s role as Malaysia’s primary investment promotion agency alongside UNGCMYB’s expertise in corporate sustainability, with both organisations committing to collaborative initiatives. These include organising conferences, roundtables, and development programmes focused on ESG and wider sustainability issues.
Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA, highlighted the importance of sustainability as “a critical enabler of future-ready investments” and noted the strong national commitment towards Malaysia’s Net Zero 2050 agenda. He added that the partnership will help promote greater awareness, build capacity, and boost private sector participation in ESG initiatives aligned with the Ministry of International Trade and Industry’s Green Investment Strategy.
Faroze Nadar, Executive Director of UNGCMYB, described the MoU as “a strategic leap forward in accelerating sustainable business practices across Malaysia,” emphasising the importance of bridging the gap between awareness and action to meet global sustainability goals and evolving market demands.
The partnership will be launched at the Forward Faster Symposium 2025, UNGCMYB’s flagship programme dedicated to accelerating sustainability, scheduled for 5 June 2025 at MIDA’s headquarters.
