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ASEAN Leaders Must See Funding For Sustainability As An Investment Not A Cost, To Achieve Better Trading Opportunities

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PETALING JAYA, Malaysia, January 4, 2022 / PRNewswire / – In order for ASEAN to accelerate and meet the demands of its global trading and sustainable trading partners, leaders must embrace great change in behavior and way of thinking. They must recognize that sustainability will require financing and should be accepted as an investment in the business; No cost for doing business.

It should refocus the impact of sustainability on the core social dimension in doing business, along with an acceptable pace to allow for a fair transition, address concerns and pressure from large trading partners such as United States, EU, porcelain For more sustainable ASEAN commitments.

To propel the region and the nation towards this change, GO ESG ASEAN 2021 recently completed, Annual Summit Organized by UN Global Compact Network Malaysia & Brunei (UNGCMYB) f The issue of ‘Achieving Sustainable ASEAN: Raising Business SDG Aspirations and Implementing Sustainable Financing’ highlighted some solutions and steps that can be taken to address existing shortcomings.

I) Corporations need to be built on values ​​from the focal points of humanity that will alienate the challenges of generations and will always remain proof of the future.

ii) Sustainability should be a key pillar for business leadership but will require a significant amount of investment and financing to be effective.

iii) ASEAN cannot operate on its own. Regulators need to unite to work on policies that encourage sustainability to ensure consistency in the region.

iv) Investors in the region need to support and step up change to accelerate existing operations in their investee companies.

v) Chief Financial Officers play an important role in promoting the sustainable financial landscape. Financial support is needed to close the SDG funding gap in the ASEAN region, to ensure a sustainable recovery from the epidemic and to rebuild resilience.

GO ESG ASEAN strives to provide deeper Insights and present actions of best practices of ASEAN and global leaders on raising SDG ambitions and pathways to achieving them. This year’s virtual conference and exhibition had more than 1,800 registrants from ASEAN and beyond.

“As the global economy recovers from the epidemic, there is an opportunity to institutionalize sustainable operations that will enable ASEAN to play a leadership role in particularly sustainable development with the growing ESG conscious behavior required of businesses. These business players must realize their potential. Trillion dollars A green economy for ASEAN, where sustainable financing is a test of key values, “said Farouz Nadar, CEO of UNGCMYB.

“ASEAN’s path towards a sustainable future is different from its global counterparts, given the various social and economic development factors, which provide an opportunity for ASEAN’s businesses to reshape the future of corporate finance and investment as a catalyst for growth, value creation and social impact,” he added.

PR Newswire is a partner in distributing new editions of GO ESG ASEAN 2021.

About UN Global Compact Network Malaysia and Brunei

The United Nations Global Compact (UNGC) is a strategic policy initiative for businesses that are committed to taking action to advance broader social goals. UN Global Compact Network Malaysia & Brunei (UNGCMYB) is the official local network of UNGC, supporting Malaysian and Brunei companies to enable them to contribute to the SDGs and achieve business excellence through our 10 principles, programs and tools while providing partnerships with a variety of stakeholders – to share best practices and evolving solutions. We also seek to position Malaysian and Brunei businesses as a benchmark and as a key agent in driving a sustainable world.

SOURCE United Nations Compact Network Malaysia and Brunei

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