EUROCHAM Malaysia was invited to participate in MITI's National Industry Environmental, Social & Governance Framework or simply ‘i-ESG Framework’ opening ceremony centered on Phase 1.0: “Just Transition”. A day of insights unfolded as we were treated to an illuminating visual presentation delivered by YB Liew Chin Tong, deputy minister of MITI on the i-ESG Framework which aims to help our manufacturing sector embrace sustainability and tap into a $12-trillion ESG market. It’s also part of the Push for Net Zero mission in the New Industrial Master Plan 2030.
The i-ESG Framework focuses on four pillars: standards, financing, capacity building, and market mechanisms, with 17 strategies and 50 deliverables to guide companies, especially MSMEs, toward ESG compliance. Deputy Minister YB Liew Chin Tong says it's a 'how-to' roadmap for businesses to integrate ESG practices and ensure accountability. Phase 1.0 (2024-2026) supports a 'Just Transition' for MSMEs, creating a level playing field.