ESG

Malaysia has issued a strong call for a paradigm shift in global urban cooperation, emphasising the need for tangible, results-driven collaboration between cities. The message, conveyed by Housing and Local Government Minister Nga Kor Ming, comes as part of his official address at the World Cities Summit (WCS) 2025, currently taking place in Vienna. Speaking in his capacity as President of the United Nations-Habitat Assembly (UNHA), Nga addressed an audience of over 75 mayors and city leaders from across the globe. He underscored the urgency of transitioning from dialogue to implementation, advocating for city-level action rooted in innovation and supported by structured urban partnerships. “Collaboration must lead to projects that solve real urban challenges,” Nga said. “We must institutionalise knowledge-sharing and back our intentions with innovation funding, technical hubs, and measurable outcomes.” Nga outlined a forward-focused agenda, encouraging cities to work together through mechanisms such as joint innovation financing, regional cooperation on shared urban concerns, and the adoption of standardised metrics to evaluate progress. These strategies, he noted, are not theoretical constructs but grounded in Malaysia’s ongoing urban development initiatives. He cited Malaysia’s experience through initiatives such as the Malaysia Sustainable Development Goals (SDG) Cities Roadmap, the ASEAN Smart Cities Network, and the Asia-Pacific New Urban Agenda Platform. These platforms, he said, serve to facilitate the exchange of expertise and promote scalable, sustainable solutions. As part of his address, Nga spotlighted internationally recognised urban transformation models including Barcelona’s Superblocks, Yokohama’s Zero Waste policy, and Curitiba’s Bus Rapid Transit system. Each, he explained, exemplifies how innovative, networked approaches can yield global urban impact. The call for action was further reinforced during the Mayors Forum on 3 July, where Kuala Lumpur Mayor and Advisor on Sustainable Urbanisation, Datuk Seri Dr Maimunah Mohd Sharif, contributed insights on advancing affordable housing. “Affordable housing is not merely a development target,” said Dr Maimunah. “It is a reflection of the social compact between the government and the people. Real affordability requires more than policy; it demands shared conviction. A truly inclusive city is one that listens, adapts, and responds in order to build a genuine sense of belonging with its people.” Her intervention highlighted the essential role of participatory governance and community engagement in shaping inclusive urban landscapes. As cities face growing socio-economic and environmental pressures, Malaysia’s leadership at WCS 2025 signals a determined push for cities to unite in delivering concrete, data-driven outcomes for sustainable urban futures. -Bernama

MUFG Bank (Malaysia) Bhd, a subsidiary of Mitsubishi UFJ Financial Group Inc (MUFG), recently convened over 100 business leaders, policymakers, and industry experts in Kuching, Sarawak, for its flagship conference, MUFG N0W (Net Zero World). The event served as a pivotal regional platform for dialogue on sustainable development across Asia. Following the success of its inaugural Malaysian edition in March 2023, this year’s conference reaffirmed MUFG’s commitment to supporting Sarawak’s growth trajectory through sustainable and innovative financial solutions. Motohide Okuda, Chief Executive Officer and Country Head of MUFG Malaysia, emphasised the bank’s alignment with Sarawak’s aspirations. He stated that MUFG’s continued support is an extension of its broader dedication to Malaysia’s long-term development. “We look forward to leveraging our environmental, social and governance (ESG) financing expertise and regional network to foster collaborations that bolster Sarawak’s goals for sustainable growth and green innovation,” said Okuda. “This latest MUFG N0W is a compelling showcase of how we are well-positioned to connect the best of Japan’s technological capabilities with Malaysia’s abundant green energy resources to unlock new opportunities and drive further growth.” He further highlighted MUFG’s alignment with the Sarawak Sustainability Vision 2030 and reiterated the bank’s ongoing role in facilitating public-private partnerships to advance inclusive development across Malaysia, Japan, and the broader region. Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, reinforced the national imperative for green transformation. He cited MUFG’s collaboration with key Sarawak institutions, including the Sarawak Economic Development Corporation and Sarawak Energy, as instrumental in addressing the energy trilemma of affordability, security, and environmental sustainability. “Malaysia’s green transformation is not just an aspiration – it is an imperative,” said Sikh Shamsul. “We stand ready to support stakeholders from project conceptualisation to implementation and invite further engagement to facilitate green investment journeys across Malaysia.” MUFG has operated in Malaysia for nearly 70 years, providing corporate clients with a suite of sustainability-focused financial solutions, including green financing, sustainability-linked loans, and green trade facilities. The bank was named Best Sustainable Bank (International) by FinanceAsia in both 2023 and 2024. In December, MUFG participated in Sarawak’s inaugural state budget conference, contributing to strategic discussions on growth planning and the role of public-private collaboration in green development. Most recently, the bank signed a memorandum of understanding with Affin Bank – majority-owned by the Sarawak state government – to explore partnership opportunities in advancing Malaysia-Japan business relations and accelerating the green transition. -The Strait Times

Schneider Electric Industries (Malaysia) Sdn Bhd has identified three critical focus areas essential for advancing sustainability and resilience across the real estate sector, according to insights from its 2024 Green Impact Gap survey. In a statement issued today, the global energy management and automation company underscored the growing urgency for businesses to move beyond reactive postures, citing climate change as an immediate and escalating risk. “With climate change no longer a distant threat, organisations must evolve from reactive to proactive approaches,” Schneider Electric stated. “By leveraging digital tools, predictive analytics, and integrated energy and sustainability management systems, businesses can monitor risks in real time, anticipate operational disruptions, and optimise their energy consumption.” Such capabilities not only enable firms to reduce carbon emissions and operational costs but also support alignment with increasingly stringent environmental, social, and governance (ESG) expectations. The company further emphasised that energy security continues to be a significant concern for the industry. In response, Schneider Electric advocates for the integration of diversified and resilient energy strategies, including renewables, microgrids, and intelligent energy management systems, to ensure that sustainability efforts are both robust and future-ready. In addressing structural barriers such as limited resources and internal resistance, Schneider Electric pointed to the challenges businesses face in complying with the Energy Efficiency and Conservation Act (EECA). “That is why we collaborate closely with our partners to align strategic intent with tangible action, deliver measurable short-term outcomes, and embed sustainability deeply into core business processes,” the statement read. “When sustainability is embraced as a strategic imperative, it becomes a powerful enabler of long-term value creation. Our role extends beyond providing digital technologies—we also offer partnership, guidance, and shared expertise to help businesses navigate this transformation.” -Bernama

Prime Minister Datuk Seri Anwar Ibrahim has reassured investors that Malaysia’s forthcoming carbon tax will not serve as a deterrent to investment activities, emphasising that its implementation will be both cautious and phased. Speaking during a roundtable session with key industry leaders in Paris on Friday, Anwar acknowledged the growing momentum towards decarbonisation globally. However, he stressed that Malaysia would approach the carbon tax pragmatically to ensure it does not undermine investor confidence. “We have to be very realistic. The proposed carbon tax should not be seen as too problematic at the expense of investing companies,” he stated. The session was attended by several Cabinet members, including Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, and Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. Anwar, currently in Paris for a two-day official visit, noted that the carbon tax is expected to be finalised within the coming months. Its initial rollout will focus on the sectors with the highest emissions, particularly the iron, steel and energy industries. The tax is scheduled to be introduced in 2026 as part of Malaysia’s broader commitment to promoting low-carbon technologies and achieving national emission reduction targets. He also highlighted that environmental sustainability remains a priority, citing the government’s move to halt new palm oil plantations on peat soil due to high carbon emissions, despite the industry’s economic significance. Industry leaders present at the roundtable commended the Malaysian government for maintaining a robust and investor-friendly climate. On tourism, Anwar shared positive developments, noting a sharp rise in tourist arrivals from France. He credited the increase in part to the newly launched direct flight route between Kuala Lumpur and Paris operated by Malaysia Airlines. “You can swim the whole year due to our favourable climate,” he added with a touch of levity. He further encouraged French companies to explore opportunities in Malaysia and the ASEAN region, describing both as among the most dynamic and rapidly expanding economic blocs globally. -Bernama