Environmental preservation no longer just corporate social responsibility - Nik Nazmi

KUALA LUMPUR - The aspect of environmental preservation in corporate affairs is no longer just corporate social responsibility (CSR) but needs to be an enabler in expanding businesses and creating new values.

Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad said the application of principles of environment, social and governance (ESG) was one of the elements evaluated by global investors in exploring investment potential.

"As such, organisations must be brave to change, change minds and benefit from technologies through the practice of ESG to remain relevant and be competitive,” he said at the launch of the Mydin Prihatin #forfuture sustainability programme at Mydin Subang Jaya, near here, today.

Speaking to reporters after that, Nik Nazmi said that in the issue of sustainability, the role of the private sector, especially big players like Mydin Mohamed Holdings Berhad (Mydin), is important as it can have a big impact on the supply chain and overall economy.

"At the government level, there can be policies and regulations on sustainability, but there must be a response from the private sector, such as that taken by Mydin,” he said.

Meanwhile, Mydin managing director Datuk Ameer Ali Mydin said that, so far, 15 Mydin premises have been equipped with solar panels to reduce carbon emissions.

He said Mydin would also invest RM7 million in software and equipment for various facilities to manage energy efficiently.

The Mydin Prihatin ESG initiative launched today focuses on efforts to care for and adopt the culture of environmental sustainability, including data intelligence systems, effective waste management, energy efficiency, use of usable energy, clothes recycling bins and smart logistics systems that help reduce carbon emissions. - BERNAMA