Kuala Lumpur, 9 November 2023 - Greenwashing is fast becoming a major concern in corporate circles, as the push to commit to net-zero or lower carbon targets drive companies to declare increasingly unattainable targets, all in the name of meeting its commitments to ESG, and satisfying investor demands. But what happens when companies renege on their targets, or are accused of overstating their achievements? What recourse exists, and is there a way to address the issue at source?

This is where sustainable accounting comes into play. Focusing on non-financial disclosures that arise from a company’s activities, it allows a company to keep track of its non-financial exposure and liabilities, and ultimately create value for the company that isn’t always related to financial reporting. And the tools to help its rapid adoption are gaining traction.

For instance, the Centralised Sustainability Intelligence (CSI) platform unveiled by Bursa Malaysia earlier this year is designed to assist public-listed companies and small and medium enterprises (SMEs) calculating their carbon emissions and reporting in line with global frameworks and standards, streamlining reporting, accelerating decarbonisation, and enhancing access to green funding. Sustainable accounting enhances transparency and accountability, allowing stakeholders to make informed decisions, while fostering trust and strengthening relationships with its stakeholders.

The Government has also recognised the transformative potential of the platform, with Prime Minister Datuk Seri Anwar Ibrahim noting in his keynote address at Invest Malaysia earlier this year how the platform, “... has the potential to become a key enabler for Malaysia's pivot to green, supporting sustainable development while creating high-skilled jobs..."

The construction industry is an integral part of the country’s economy, with a huge impact on the labour market, local communities, and the environment. The industry, however, is also one of the economy’s biggest carbon emitters, responsible for anywhere between 20% to 40% of energy and process-related carbon emissions worldwide.

As Malaysia's construction industry continues to evolve, the International Construction Transformation Conference (ICTC) 2023 stands as a beacon of innovation, sustainability, and progress. Organised by CIDB Malaysia and managed by Qube Integrated Malaysia Sdn. Bhd., this ground-breaking conference promises to drive change and inspire industry professionals.

CIDB Chief Executive Officer, Dato' Sr Mohd Zaid Zakaria

"We understand businesses in the building and construction ecosystem are at different stages in their sustainability adoption journey. The ICTC and BuildXpo have been curated to equip industry players with strategic and technical insights as well as the confidence to level-up their respective sustainability progress. On top of aligning to the Nation’s net zero ambitions, the conference positions Malaysia strategically as a facilitator of innovative exchange between regional and international players who share a common goal of achieving the Sustainable Development Goals by 2050," explains Construction Industry Development Board Malaysia (CIDB), Chief Executive Officer, Dato' Sr Mohd Zaid Zakaria.

Join us at the International Construction Transformation Conference (ICTC) 2023 and be part of the 'green' journey toward sustainability and accountability in the construction industry. Together, we will build a better world.

The International Construction Transformation Conference (ICTC) 2023 will be held from 14 to 15 November 2023 at MITEC, Kuala Lumpur. To register, please visit https://evms.cidb.gov.my/event/HGb8478YnTI.

For more information, visit https://www.cidb.gov.my/icw-2023-conferences/#ictc2023, contact tel: 03 6211 4224, or email to enquiry@buildxpo.com.my.

This article is provided by Centriq PR Sdn Bhd

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