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Carlsberg Brewery Malaysia Berhad (The Group) has released its Integrated Annual Report (IAR) for the financial year 2025, reaffirming its commitment to sustainable shareholder value creation and strong corporate governance. The alignment with National Sustainability Reporting Framework (NSRF) and adoption of International Sustainability Standards Board (ISSB) reflects the Group’s intent to move beyond disclosure for compliance to addressing investors growing demand for consistent and reliable sustainability data. Carlsberg Malaysia Annual Report 2025. The IAR 2025 reported on the Group’s approach in leveraging data-driven sustainability and climate insights into identification of key material risks from its annual materiality review. The brewer is guided by its sustainability ambition to safeguard its licence to operate and achieve zero carbon emission within the brewery operations by 2032, amid rising energy costs, increasing regulatory scrutiny and more frequent extreme weather events. Three material matters were prioritised: Responsible Drinking & Marketing and Energy Management under the IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information), and its efforts to improve Climate Resilience under IFRS S2 (Climate-related Disclosures). It is a step change in how the Group mitigates risks and optimises opportunities, strengthening operational resilience and future-proofing the business. Under IFRS S2, climate risk assessments identified exposure to energy price volatility, carbon-related transition risks and physical risks linked to increased rainfall intensity and water availability. These assessments guided operational actions during the year, including higher energy efficiency management, the transition to Malaysia Renewable Energy Certificates (M-RECs) from I-REC, which resulted in savings of RM0.18 million, exploration on biomass energy as an alternate source to natural gas, and the feasibility study of Solar Power Purchase Agreements. Together, these initiatives supported the Group’s decarbonisation pathway while helping to reduce exposure to long-term energy cost volatility. The Group also strengthened climate-resilience measures at its brewery to mitigate potential disruption risks arising from heavier rainfall patterns, reinforcing asset protection and business continuity planning. The Group also highlighted the importance of responsible drinking and marketing as IFRS S1 to address integrity and compliance risks associated with operating in a tightly regulated industry. During the year, the Group reinforced strict marketing governance, enhanced brand safety controls and compliance with local advertising standards, reaffirming its decade-long #CELEBRATERESPONSIBLY commitments. A total of RM6.73 million was spent on responsible drinking, sales and marketing efforts, through packaging, point-of-sales materials, consumer-facing events and strategic partnerships, to mitigate every possible reputational risk of non-compliance. On the governance front, Carlsberg Malaysia became the first Carlsberg market globally and the first local beverage manufacturing company certified by SIRIM QAS International to attain ISO 37001:2025 Anti-Bribery Management System certification. The upgraded standard places greater emphasis on Board oversight and integrity risk management, reflecting heightened expectations on corporate conduct and accountability. The Group’s efforts in overall sustainability performance were recognised through multiple awards and external benchmarks during the year, including being named the Highest Return on Equity at The Edge Billion Ringgit Club Awards for the sixth consecutive year, and achieving an improved FTSE4Good Bursa Malaysia score of 3.8. Another notable achievement is Carlsberg Malaysia’s improved MSCI ESG rating, moving from AA to AAA. Stefano Clini, Managing Director of  Carlsberg Malaysia. Managing Director of Carlsberg Malaysia, Stefano Clini said, “Despite a challenging operating environment in 2025, we delivered a resilient performance, continuing its six-year track record of profitability through disciplined execution of our Accelerate SAIL strategy and our sustained focus on premiumisation, innovation and operational efficiency.” “In 2025, the adoption of IFRS S1 and S2 marked an important step in how we integrate sustainability risks and opportunities with everyday business decision-making. By strengthening climate, energy and governance disciplines, we are better positioned to manage uncertainties and remain focused on creating sustainable value while strengthening climate resilience,” Clini added. In March this year, Carlsberg Malaysia launched its refreshed sustainability strategy – Brewing Tomorrow, focusing on four pillars: Cutting Carbon, Protecting Nature, Empowering People and Inspiring Choice. Brewing Tomorrow reflects a renewed, science-backed ambition to reduce the Group’s impact on people and the planet.

In today’s environment of trade tariffs, geopolitical tensions and changing regulations, some businesses have quietly scaled back their sustainability commitments by delaying net-zero goals, reducing ESG programmes and taking a wait-and-see approach. According to experts at ACCA’s annual Sustainability Conference, this could prove to be a costly mistake. Held virtually on Earth Day and attended by finance professionals from more than 100 countries, the conference highlighted that sustainability is no longer just a moral issue, but a financial one. Businesses that fail to integrate sustainability into their core strategies may be exposing themselves to growing risks that are already impacting operations and profitability. ACCA Head of Sustainable Business Sharon Machado said sustainability should not be treated as a side initiative, but as part of overall business strategy and risk management. She noted that concerns such as geopolitical disruption, supply chain instability, commodity shortages and extreme weather impacts are all closely linked to sustainability challenges. Risk, finance and sustainability leader Andrea Amaize said many organisations that have reduced their sustainability efforts are trying to balance long-term goals with short-term financial pressures. However, she said the immediate effects of sustainability issues are already being felt. Climate change is influencing the cost and availability of insurance, purchasing decisions increasingly include decarbonisation requirements, access to lower-cost capital is becoming linked to sustainability performance, and talent is increasingly drawn to purpose-driven organisations. Speakers at the conference also stressed that sustainability should not be seen only as a cost, but as a driver of profitability. Strong sustainability strategies can create new revenue opportunities, lower operating costs, improve resilience, strengthen brand value and build competitive advantage. Amaize added that companies must clearly demonstrate how sustainability creates measurable financial outcomes, with finance professionals playing an important role in proving that link.

RHB Banking Group (“RHB” or “the Group”) has been upgraded from AA to AAA in the MSCI ESG Rating, the highest rating available, placing the bank among the leading global financial institutions for managing environmental, social and governance (ESG) risks and opportunities. The upgrade reflects growing confidence among global investors in RHB’s ability to deliver sustainable growth through its progress in sustainable finance, reducing financed emissions in key sectors, and strengthening governance and risk management practices. As of FY2025, RHB has cumulatively mobilised around RM60 billion in sustainable financial services and is targeting RM90 billion by 2027. The Group has also achieved a 13.2% reduction in financed emissions across five priority high-emission sectors compared with its 2022 baseline, as well as a 49% reduction in operational greenhouse gas emissions against its 2016 baseline. RHB Group Managing Director and Group CEO Dato’ Mohd Rashid Mohamad said the upgrade reflects the Group’s progress in embedding sustainability into its operations. He said sustainability is integrated into how the bank allocates capital, manages risk and supports customers through transition journeys, while creating long-term value for stakeholders. Beyond financing, the recognition also highlights RHB’s stronger climate risk governance, operational resilience and responsible business practices. The Group has established climate risk management frameworks that include board-level oversight, scenario analysis and stress testing to support decision-making. RHB continues to advance its net-zero goals, targeting carbon neutral operations by 2030 and net zero emissions by 2050, while continuing to lower both financed and operational emissions. These efforts are supported by the Group’s Sustainable and Transition Finance Framework, which aims to improve governance, transparency and consistency in financing activities. RHB also continues to promote financial inclusion across its key markets, having supported more than 1.5 million individuals and businesses, with a target of 2.5 million by 2027. The Group has also strengthened its workforce and governance practices, including achieving close to 40% women representation in senior leadership, enhancing sustainability skills among employees, and improving responsible supply chain standards. MSCI ESG Ratings are widely used by global investors and assess more than 17,000 issuers worldwide. The ratings measure how companies manage financially relevant ESG risks and opportunities relative to industry peers, with AAA representing the highest level of ESG leadership. RHB’s sustainability credentials are also supported by its continued inclusion in the FTSE4Good Bursa Malaysia Index, recognition by S&P Global’s Corporate Sustainability Assessment, and its position among Malaysia’s leading ESG performers. Under its PROGRESS27 strategy, RHB said it will continue expanding sustainable and transition finance, strengthening ESG risk integration, and delivering solutions that support inclusive and low-carbon growth across the region.