Petronas, Bursa Malaysia to help drive ESG adoption

Petronas has signed a memorandum of collaboration with Manila-based stock exchange Bursa Malaysia to help drive environmental, social, and corporate governance (ESG) adoption and practices through the latter’s Centralised Sustainability Platform, it said on April 17.

Working in collaboration with the London Stock Exchange Group, Bursa Malaysia is developing and testing the platform which allows corporates to calculate their carbon emissions impact and disclose standardised, common ESG data.

The purpose of this platform is to ease companies in their sustainability disclosures and encourage effective management of their carbon emissions, including those from their supply chain while facilitating decarbonisation through banks’ green financing products and services, Petronas said.

Petronas said it would be participating in the early adopter programme (EAP) of the platform to advocate standardised ESG reporting and disclosures while exploring the creation of further value throughout its supply chain.