Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Icon-facebook Icon-instagram-1 Linkedin
Newsletter
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

ESG

ESG, News

ESG-i Assessment Framework Launched By Ficus Capital, INCEIF to Empower MSMEs

/

KUALA LUMPUR: Ficus Capital, in collaboration with INCEIF University, launched its ESG-i Assessment Framework that will serve as an innovative tool to empower micro, small and medium enterprises (MSMEs) in Malaysia with sustainable practices. The launching was held at the Global Forum on Islamic Economics and Finance GFIEF 2024 that was organised by Bank Negara Malaysia (BNM), in collaboration with key industry players and under the patronage of the Ministry of Finance. The assessment framework is an inclusive blueprint for assessing sustainability that incorporates Shariah principles and the Quadruple Bottom Line (QBL) – planet, people, profit and principle. “It is natural for Islamic finance development to converge with ESG as Islamic Social Finance has been practised by Islamic Banks and Islamic Financial Institutions in Malaysia. This robust ESG-i framework is timely as a catalyst towards greater integration between Islamic finance and ESG, especially since it comes on the back of our Prime Minister Datuk Seri Anwar Ibrahim’s recent announcement on the government’s commitment towards Islamic finance innovation via partnerships,” said Religious Affairs Deputy Minister Senator Zulkifli Hasan. By simplifying complex sustainability criteria, the ESG-I Assessment Framework provides practical tools for MSMEs to help them transition to a low carbon, circular and resilient (LCCR) future, enabling them to mitigate risks, unlock new markets and enhance their financial performance. On this, Ficus Capital Chairman Nor Azamin Salleh said, “The ESG-i Framework offers a practical solution to help MSMEs integrate sustainability into their operations, which aligns with our commitment to supporting companies that operate according to ESG-i principles. “Hence, the launch of the ESG-i Assessment Framework comes at a crucial time, as global sustainability standards evolve, making it imperative for Malaysian MSMEs to adopt practices that keep them competitive and resilient while fulfilling Islamic finance principles,” he added. The Assessment Framework was piloted with a diverse group of MSMEs, demonstrating its real-world applicability and impact, highlighting the need for targeted support and the framework’s potential to drive significant improvements in sustainability practices. Meanwhile, INCEIF University President and CEO, Professor Emeritus Mohd Azmi Omar said, “The positive response from the pilot phase underscores the framework’s practicality and impact. It provides MSMEs with the necessary tools to integrate sustainability into their business practices effectively. Additionally, it empowers them to be resilient, competitive, and future-ready. “The framework aims to be a catalyst for change, promoting a sustainable supply chain and addressing the evolving sustainability landscape,” he explained.

ESG

30 Years of Bringing Communities Together through Tiger Sin Chew Chinese Education Charity Concert

/

PETALING JAYA:  Heineken Malaysia Berhad (HEINEKEN Malaysia) has launched the 2024 edition of the Tiger Sin Chew Chinese Education Charity Concert (Tiger Sin Chew CECC). Celebrating its 30th anniversary, this long-standing social impact initiative, a collaboration between Tiger Beer and Sin Chew Daily, continues to unite communities for a greater cause in the spirit of true togetherness. Since its inception in 1994, Tiger Sin Chew CECC has raised over RM407 million for more than 540 schools nationwide. These funds have significantly improved educational institutions by upgrading their facilities and technology, enhancing the learning environment, and leaving a lasting impact on future generations. During the launch, Malaysia’s Deputy Education Minister, YB Tuan Wong Kah Woh, expressed his gratitude: “I want to extend a heartfelt thanks to Heineken Malaysia Berhad, Tiger Beer, and Sin Chew Daily for their steadfast commitment to this important cause. For 30 years, their efforts have not only improved educational access and quality for students but also brought our communities together, fostering a sense of unity and collective purpose. Thank you for showing us that the spirit of community and support for education is stronger than ever.” The 2024 Tiger Sin Chew CECC will kick off in July, featuring a new collaboration with trade partners. Local coffee shops and food courts across the country will host Fundraiser Nights to complement the 10 charity concerts scheduled between July and October, further strengthening community ties. Roland Bala, Managing Director of HEINEKEN Malaysia, shared, “For 30 years, the Tiger Sin Chew Chinese Education Charity Concert has fostered a strong community spirit, harnessing the joy of true togetherness to unite people for a good cause. At HEINEKEN Malaysia, we know that we can only thrive if our people, the planet, and the communities around us thrive. We are committed to giving back, supporting, and actively engaging with local communities to create a better future for all.” “This year, we’re adding a special twist to Tiger Sin Chew CECC by teaming up with our trade partners to host Fundraiser Nights. We are also grateful for the dedication and commitment of Sin Chew Daily over the past three decades. Thank you to all who have contributed with extraordinary generosity. We are truly inspired and look forward to continuing this programme for the benefit of our local communities. Cheers to 30 years of Tiger Sin Chew Chinese Education Charity Concert, and more to come!” The 2024 Tiger Sin Chew CECC aims to raise RM15 million through ten concerts for the following 11 institutions: SMJK Chan Wa II, Seremban: Construction of an audio-visual auditorium and a multipurpose hall. SJKC Tche Min, Sungai Pelek: Building a new multipurpose school hall. Chinese High School, Batu Pahat: Providing grants-in-aid to support needy students. SJKC Cheow Min, Pontian: Upgrading school facilities, including 16 smart classrooms, a library, three English language centres, and a rain cover for the school’s bus stop and basketball court. SJKC Aik Thee, Kuala Selangor: Constructing an administrative building, a school canteen, and a slip road leading to the school hall. SJKC Kampung Baru Mambau, Seremban: Enhancing school facilities in conjunction with its 98th anniversary. SJKC Thorburn, Skudai: Building two basketball court shelters, a container classroom for student activities, and upgrading computer hardware for smart classes. SJKC Jagoh, Segamat: Upgrading the school hall and existing smart classrooms and rejuvenating school facilities. Shen Jai High School, Ipoh: Supporting broader infrastructure development. SJKC Ching Chong, Semeling & SJKC Peng Min, Tikam Baru: Jointly raising funds to build a preschool to increase student enrolment. Koo Cheng, Executive Director/CEO of Sin Chew Daily, remarked, “We are proud to celebrate our longstanding partnership with HEINEKEN Malaysia, spanning three decades and counting. Reflecting on the years gone by, it’s encouraging to see the impact we’ve achieved together through Tiger Sin Chew Chinese Education Charity Concerts. We look forward to continuing this journey with HEINEKEN Malaysia, elevating education, and nurturing the spirit of unity and generosity across the communities.” In the spirit of true togetherness, join Tiger Sin Chew CECC’s efforts to make a positive impact on communities. Members of the public can get involved by attending the charity concerts, participating in fundraising activities, and supporting the trade partners’ fundraisers.

ESG, Events

Enhancing National Economic Growth Through Cooperatives

/

PENANG: The COOP@IMT-GT Seminar and Conference held today highlighted the transformative power of cooperatives in driving economic growth and fostering social inclusion within the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) subregion.   The event was co-organised by the Malaysian National Cooperative Movement (Angkasa), ASEAN Cooperative Organisation (ACO) and Centre for IMT-GT Subregional Cooperation (CIMT). Focusing on the role of cooperative enterprises in financial inclusion and digital transformation, the conference expanded on innovative strategies and collaborative partnerships to unlock the full potential of cooperatives. During the conference, speakers had the opportunity to discuss challenges in harnessing that potential and develop actionable approaches to address them. At the same time, speakers were also able to share successful cooperative initiatives and best practices across the region to further inspire and empower participants to drive cooperative-driven economic growth. “Cooperative enterprises are crucial in empowering communities as it support economic expansion by creating job opportunities and they can also enhance social development by promoting democratic participation,” said Koperasi Kredit Pekerja-Pekerja Malaysia Bhd Chairman, Thankarajoo Subramaniam. “Additionally, cooperatives are capable of initiating sustainable growth by encouraging local resource utilisation and promote environmental sustainability,” he added. Meanwhile, Dato’ Dr Muhamad Iqbal Mohamad, who is a Member of the IMT-GT Joint Business Council said that cooperatives in Malaysia have significant potential to foster inclusive growth and address socio-economic challenges by pooling resources, providing financial services, and investing in community development. According to him, cooperatives empower members through collective bargaining, shared profits, and democratic governance. “If supported by the government, cooperatives enhance financial inclusion and economic stability, particularly in rural areas. “Despite facing challenges like limited capital and competition, cooperatives can overcome these through enhanced support, technological integration, and strategic partnerships,” said Dato’ Iqbal, who is also the founder of Qew Group Bhd, a wholly-owned Bumiputera company, specialises in project management and corporate finance initiatives. In this regard, he explained how Qew Group Bhd can foster a sustainable business ecosystem for Malaysian cooperatives by providing financial support and investment, including microfinancing for smaller entities. By introducing new technologies and innovative practices, such as digital platforms for e-commerce and mobile banking, Qew Group Bhd can enhance operational efficiency and market reach. “Expanding market access through Qew Group Bhd’s network and partnerships, promoting sustainable practices, and investing in research and development will ensure long-term growth and competitiveness. “This can ultimately promote economic growth, community development, and sustainability for Malaysian cooperatives,” Dato’ Iqbal concluded.  

ESG, Investment & Market Trends, News

Atour Unveils Sustainability Records in 2023 With Milestone ESG Report

/

SHANGHAI: Atour Lifestyle Holdings Ltd, a leading hospitality and lifestyle company in China, has released its inaugural Environmental, Social, and Governance (ESG) report for 2023, underscoring the company’s sustainability efforts over the past year and reflects the steady integration of ESG principles into its day-to-day operations. In essence, Atour is committed to reducing waste and making its operations more ecologically friendly. This is reflected in the company’s approach toward refurbishment and resource conservation. During the reporting period, Atour launched two new products, Atour Light 3.0 and Atour 4.0 ‘With Nature’, a midscale hotel offering and an upper midscale variation. They underwent refurbishment using modular designs, with modular elements accounting for over 90% and 80% of the overall designs, respectively. This initiative significantly reduces maintenance costs and non-essential construction waste. Sustainability practices extend beyond decoration. Atour hotels now are equipped with less carbon-intensive amenities, such as 100% biodegradable paper cups, as well as natural cotton beddings and natural bamboo paper products manufactured without bleach or fluorescents, easing the burden on the environment. Additionally, Atour promotes water conservation across some of its 1,210 hotels (as of the end of last year) using the dedicated-loop system for circulating hot water, resulting in a reduction of 12.67 tons of water consumption per room annually. Atour prioritizes customer experience, introducing innovations from Atour APLUS services to Late Night Congee to ensure customers feel at home during their stays. Customers can expect a carefree experience and peace of mind, thanks to Atour’s commitment to purified indoor air, fire safety, cleanliness, hygiene, and strict user privacy protection. Moreover, Atour has reinforced its support for franchisees through its ‘6 Commitments to Franchisees’ and ‘8 Supply Chain Procurement Commitments,’ empowering them with a responsible supply network, rights guarantees, as well as training on sustainability. Originating from Yaduo, a remote village in southwestern China, Atour has consistently given back to its place of inspiration by encouraging local villagers to grow tea, fueling economic development and rural revitalisation. As the report indicates, Atour purchased a cumulative 150 tons of processed tea leaves worth CN¥37 million from the villagers, benefiting some 1,400 households. As part of its charitable engagements, it also donated a batch of clothes with a value of around CN¥2 million to the needy and supported targeted poverty alleviation efforts. In urban areas, Atour contributes to societal well-being by offering resting places in its Shanghai headquarters for frontline workers such as couriers, delivery rider, and sanitation workers during their downtime. 10 years after its birth, Atour prides itself on creating a diverse, equitable, and inclusive workplace for its employees. Currently, over 58% of its 4,248 employees are female, and the company employs 17 people with physical disabilities and 162 members of ethnic minorities. On the corporate governance front, Atour has established an ESG working group tasked to report directly to its Executive Committee. The ultimate goal is to implement a coherent sustainability strategy throughout its corporate hierarchy, thereby embedding ESG concepts into Atour’s mission and core values. Recognising board diversity as a pillar for sustained growth, Atour aims to include factors like one’s gender, age, culture and professional background when nominating future board members. Currently, there are three independent directors and two female directors on the eight-member board. In aligning with its strategic vision to boast a network of 2,000 premier hotels by 2025 and deliver the optimum ‘Chinese experience’, Atour is set to invest more resources and energies in the realm of ESG. ‘Looking ahead, we aim to enhance our sustainable development initiatives and capacities consistently, turning our original aspirations of warmth and generosity into increased resilience through concrete measures,’ said Atour Founder and CEO Haijun Wang. “We remain committed to creating an intimate ambience where people can warmly connect and contribute to a greener ecology and a kinder, more compassionate society,” he added.

ESG, News

Hikvision Releases Its 6th ESG Report, Emphasising Commitment to ‘Tech for Good’

/

HANGZHOU: Hikvision has published its ‘2023 Environmental, Social and Governance (ESG) Report’, disclosing its ESG practices and performance for the sixth consecutive year. The report offers a comprehensive look at Hikvision’s focus on sustainability and its ESG priorities and actions, reaffirming the company’s commitment to fulfilling corporate social responsibility with innovative and sustainable technologies. “Practicing the ethos of ‘Tech for Good’, adhering to pragmatism, and exploring ‘green’ transformation, Hikvision leverages our products to deliver the value of sustainable development,” said its Chief Compliance Officer and Senior Vice President, Huang Fanghong. “We firmly believe that together with the momentum of digital transformation and technological advancements, we will attain stable and sustainable growth,” he added. With the belief that technologies play a pivotal role in promoting overall well-being, Hikvision has formulated an ESG management framework with ‘Tech for Good’ as its core. Leveraging cutting-edge technologies, Hikvision endeavored to protect historical relics, prevent water and air pollution, as well as enhance efficiency and productivity in manufacturing. Moreover, the company has contributed to providing more educational resources for children in remote areas, ensuring abundant apple harvests, and safeguarding wildlife, fulfilling its part to further the aspiration to build a better world. Apart from giving back to the society with innovative technologies, Hikvision places great emphasis on integrity and compliance, low-carbon development, and harmonious relationships with employees, partners, and communities, integrating these principles into its ESG management framework. Some highlights during the reporting period include: The company released the Hikvision Global Human Rights Policy, embedding the respect for human rights in the company’s governance and operations. Hikvision formulated and introduced the Management Procedure for Greenhouse Gas Emissions, aiming to reduce greenhouse gas (GHG) emissions and promote low-carbon operations. Hikvision further integrated eco-friendly principles into the process of product R&D, design, packaging and utilisation. By acquiring carbon footprint verifications of representative products, the company evaluated the GHG emissions throughout those products’ life cycles for continuous improvement. While promoting energy savings, Hikvision also proactively advanced the procurement of green power. In 2023, around 12,533.7 MWh of power was generated by photovoltaic (PV) systems deployed in the company’s manufacturing bases. Hikvision continued to drive sustainable development through innovation, winning 1,884 invention patents in 2023. The R&D investment of the company reached C¥11.39 billion (RM7.42 billion), up 16.08% year-over-year. Adhering to responsible procurement, Hikvision continuously enhanced supplier management. 100% of the new suppliers of the company were screened using the environmental and social criteria. Hikvision provided its employees with a series of trainings to support their personal and professional development, with total training time reaching 1,534,482 hours. Hikvision employees engaged actively in volunteer activities, collectively dedicating over 20,000 service hours.

ESG, News

Enhancing Accountability in ESG Reporting Can Boost Credibility of Plantation Firms

/

KUALA LUMPUR: Malaysian plantation companies should improve transparency and accountability in their environmental, social and governance (ESG) reporting to enhance credibility, said an academician. Universiti Teknologi MARA (UiTM) Faculty of Accountancy Associate Professor Dr Seri Ayu Masuri Md Daud said that findings from her team’s research on environmental disclosure in the plantation industry revealed that despite environmental concerns, the majority of environmental reporting by plantation firms remains dominated by ‘soft’ information such as vision statements and general environmental initiatives. “This type of reporting often lacks the depth and specificity required to provide stakeholders with a clear understanding of the company’s environmental impact and management practices,” she said. Masuri believes that the most significant challenges and criticisms of current ESG practices include greenwashing and the aspirational gap. “One major concern is the perceived gap between companies’ aspirations and their actual performance concerning ESG practices. This phenomenon, often termed ‘greenwashing’, not only erodes stakeholder trust but also undermines the credibility of ESG efforts. “Institutional investors are wary of such discrepancies, highlighting the need for greater transparency and accountability,” said Masuri, who is also a member of the varsity’s Sustainability and Governance Talent Cluster. In jurisdictions where sustainability reporting is mandatory, like Malaysia, she said that a significant challenge lies in bridging the gap between companies’ aspirations and their actual ESG performance. “To address this, robust rules must be established to combat both corporate and institutional investor greenwashing, thereby safeguarding stakeholder interests. “For example, measures should be implemented to prevent institutional investors from misleadingly labelling funds as ESG-compliant when they fail to adhere to ESG principles,” Masuri said. She said that a lack of uniform ESG reporting standards further compounds the problem as companies and investors often measure and report on different metrics in varying ways, leading to inconsistencies and incomparability. “This lack of standardisation hampers the ability to accurately assess and compare ESG performance across companies and industries,” she added. The associate professor noted that companies may engage in symbolic reporting, where disclosures may not reflect meaningful actions and outcomes. “In Malaysia, despite the mandate for sustainability reporting, companies retain considerable discretion in determining the content of their disclosures. “Our research on environmental disclosure in the plantation industry underscores this issue, revealing a prevalence of soft information over substantive disclosures,” she highlighted. Masuri also emphasised the role of government policies and international regulations in shaping ESG practices. “Government policies and international regulations play a crucial role in shaping ESG practices globally. “While sustainability reporting remains voluntary in many regions, there is a growing recognition of the need for mandatory reporting to ensure transparency and accountability across all firms,” she said. Masuri said researchers have proposed several key measures to improve the effectiveness and integrity of ESG practices within the industry. “It is recommended that regulators focus not just on the volume of ESG discolures but also on enhancing their quality. There is a pressing need for more substantive reporting that can offer real insights into companies’ ESG activities and performance. “Transparency and accountability are needed where more substantive disclosure is essential to enhance transparency and reduce information asymmetry between stakeholders and management. Truthful reporting, backed by concrete actions and outcomes, is critical for building trust and credibility in ESG practices,” she said. Masuri concluded that to overcome the shortcomings of current ESG practices and to ensure they genuinely reflect companies’ environmental stewardship, concerted efforts from regulators, companies and investors are indispensable. “By promoting standardisation, transparency and accountability, I believe that a more robust and credible ESG reporting and implementation framework for these companies can be established, thus creating more transparent and genuine ESG reporting,” she added. — BERNAMA

ESG

Pioneering Sustainable Global Business Practices While Redefining Business Ethics: ReSkills Launches myESG100

/

KUALA LUMPUR: ReSkills, Malaysia’s leading subscription-based global online learning platform, is embarking on a transformative journey in sustainable leadership with the launch of myESG100. Responding to the increasing demand for enhanced sustainability practices both locally and globally, this initiative is dedicated to promoting environmental, social, and governance (ESG) values. With the motto “Making Sustainability Everyone’s Priority,” myESG100 aims to revolutionize responsible business practices through monthly discussions centered on sustainability. The launch event, held at the ReSkills Hub on 14 May 2024, began with an opening address by Mr. Ken Lim, Founder of myESG100, followed by a speech from Mr. Edison Choong, Head of MATRADE’s ESG Unit. Notable attendees included Dato’ Ong Bee Leng, Dato’ Seri Dr. Raymond Liew, Miss Zoel Ng, Mr. Nelson Liew, Mr. Adrian Banie Lasimbang, Dr. Sham Razak, Tan Sri Datuk Danny Ooi, and Mr. Mohammad Fazril Mohd Saleh. The event also featured the signing of a Memorandum of Understanding (MOU) between myESG100 and key ESG-focused organizations such as ESG Malaysia, the National ESG Research Institute, BNC Malaysia, and the Yeoh Foundation. By bringing these entities together, myESG100 aims to raise awareness about the importance of ESG in achieving sustainable solutions. The initiative seeks to connect like-minded individuals, industry leaders, and sustainability experts through engaging discussions, workshops, and networking sessions designed to explore innovative solutions to sustainability challenges. At the core of myESG100 is a bold vision to empower communities through Sustainability, Mobility, Accessibility, Renewability, and Technology (S.M.A.R.T). This vision is brought to life through five transformative pillars: 1. Product: Developing transformative learning experiences that empower innovation and shape the future, focusing on clean energy solutions, connectivity, and democratizing access to essential information. 2. Community: Cultivating ESG awareness across various community levels and engaging individuals, public and private entities, and corporations in the pursuit of sustainability. 3. Partners: Collaborating with like-minded partners to amplify the impact of ESG-centric programs and initiatives, fostering a culture of sustainability and responsibility. 4. Ambassadors: Enlisting influential leaders from various sectors to champion the integration of ESG principles into everyday life. 5. Events: Organizing dynamic events that raise awareness and inspire action, aiming to incorporate ESG principles into business practices and societal norms. myESG100 is committed to fostering the adoption of ESG-based products and sparking conversations that elevate ESG awareness across all levels of society. By collaborating with partners and influential figures, myESG100 paves the way for a future where ESG principles are seamlessly integrated into daily life. Ken Lim, Founder of myESG100, emphasized, “All these pillars must work together in tandem if we want to reach our goals of becoming a smart nation. Our efforts include the holistic empowerment of all communities by offering quality education and connectivity to elevate various aspects of their lives, regardless of geographical limitations. By focusing on all five pillars, we can bring forth sustainable efforts for all Malaysians, one step at a time.” An example of this commitment is the ReSkills S.M.A.R.T Hub. Launched on 12 December 2023, this prototype represents a green-fueled learning and innovation center. Powered by solar energy, the S.M.A.R.T Hub offers a sustainable solution that empowers rural communities while protecting the environment, making high-quality education accessible to everyone, regardless of their geographical or socioeconomic status. The significance of the MOU lies not just in its signing but in the promise it holds for collaboration, innovation, and progress towards a sustainable future. Through strategic partnerships and concerted efforts, myESG100 and ReSkills aim to pave the way for future generations, ensuring access to high-quality educational opportunities that champion sustainability principles and drive positive global change. For more information about myESG100, please visit [myesg100.org](https://myesg100.org/).

ESG

Unveiling the Challenges and Potential of Neurodiversity in Employment

/

KUALA LUMPUR: Neurodiversity embodies the beautiful array of cognitive differences present in individuals, including those with conditions such as autism, ADHD, and dyslexia. This diversity enriches society with unique perspectives and abilities, yet it also presents obstacles, especially in the realm of employment. “Neurodivergent people have immense untapped talent. When they develop an interest in specific subjects, they possess a remarkable ability to hyperfocus and achieve expertise in those areas,” said Dr Choy Sook Kuen, the founder of Oasis Place. Despite this, studies consistently reveal alarmingly low rates of employment for this population. Extensive research revealed troublingly high unemployment rates among neurodiverse individuals, ranging from 30% to 40%. This stands in stark contrast to lower rates observed among people with other disabilities or no impairments at all. These numbers shed light on the significant challenges neurodiverse individuals face when seeking job opportunities.  Moreover, a survey of Fortune 500 companies reveals biases in the hiring practices of most companies. While 90% of respondents were open to hiring people with physical disabilities or hearing impairments, only 20% showed a similar willingness towards those with severe mental disabilities. This disparity in hiring highlights the pervasive stigma and discrimination encountered by neurodiverse individuals in the job market.  Such biases not only perpetuate inequality but also prevent organisations from tapping into valuable talent and diverse perspectives. Challenges faced by neurodivergent individuals Widespread misunderstandings surrounding neurodiversity perpetuate harmful stigmas and biases in professional settings. These misconceptions hinder opportunities for individuals with neurodivergent traits, resulting in discrimination during recruitment and difficulties in the workplace. Neurodivergent individuals possess a wide array of talents and skills, yet traditional employment systems often fail to recognise and utilise these strengths, leading to high rates of unemployment. Conventional recruitment practices, focused on social skills and fitting societal norms, create barriers for neurodivergent individuals during interviews, networking, and resume-building. Employers should rethink hiring methods by using alternative assessments like skills-based evaluations, reducing reliance on social cues and interview performance. Investing in initiatives such as mentorship, vocational education, and apprenticeships can help develop neurodivergent individuals’ skills and advance their careers. “Many workplaces struggle to accommodate people with different thinking styles, such as those with autism or ADHD. This lack of support makes them feel left out and affects how well they can do their jobs,” said Dr Hazli Zakaria, a respected psychiatrist and founder of Alaminda. He also said it’s not that hard to make things better, it’s as easy as setting aside a designated area for smokers. Simple changes like moving desks, adjusting lights, or creating a chill area with comfy bean bags can help a lot. And just letting these folks eat lunch alone sometimes, away from loud noises or big crowds, can help them feel more comfortable and get their work done well. Addressing the employment gap for neurodivergent individuals requires collaborative efforts across sectors, including government, businesses, advocacy groups, and communities. By fostering inclusive workplaces, providing tailored support, and transforming recruitment practices, we can harness the strengths of neurodiversity and create a more equitable and diverse workforce for the future.  

Cover Stories, Energy & Technology, ESG

NanoMalaysia: Breaking the Stigma of the Hydrogen Economy

/

KUALA LUMPUR: The topic of renewable and clean energy has been making headway in recent months, with automotive companies racing to roll out their EV cars, trucks and buses, as global acceptance continues to increase. In Malaysia, the government launched the Hydrogen Economy and Technology Roadmap (HETR) in October 2023, highlighting the country’s plans and aspirations to become a regional leader in the renewable energy (RE) industry. Spearheading this mission behind the scenes is NanoMalaysia Bhd, an agency operating under the Ministry of Science, Technology and Innovation (MOSTI) to develop innovative technologies revolving around the hydrogen economy. According to NanoMalaysia Bhd Chief Executive Officer, Dr Rezal Khairi Ahmad, there has always been an interest in hydrogen energy solutions, going back as early as the 60s. However, the usage of fossil fuels as a source of energy was already rising at the time and has remained a widely used commodity to this day since it is ‘faster and easier’ to get. “Fossil fuel was considered cheap back then. When it’s cheap, people don’t care about the pollution it causes,” Dr Rezal commented. This caused the hydroeconomy to experience several false starts. But now, the interest is back – so much so that the HETR launched by the government estimates that the industry will be worth over US$189.19 billion (RM824 billion) by 2050. Dr Rezal revealed that NanoMalaysia drafted its own hydrogen roadmap that predated the one launched by the government. Because of this, the company was appointed as the lead consultant who engaged with various stakeholders to create the HETR – a subset of Malaysia’s National Energy Transition Roadmap (NETR). “We were given the mandate because the government recognised one of our early investments in hydrogen technology in 2016, demonstrating that NanoMalaysia has the competency, the commercial know-how and market insights for us to draw up a comprehensive roadmap,” Dr Rezal explained. The Energy Trilemma According to Dr Rezal, the hydrogen economy revolves around the philosophy of the energy trilemma: accessibility, affordability and sustainability. “Hydrogen checks all the boxes. It’s accessible because it is a resource that is available everywhere in everything around us (including biomass, domestic waste, hydrocarbon from fossil fuels, etc.) It is truly the people’s fuel,” Dr Rezal said. He explained that while solar power is a non-solid energy that can be stored and utilised through solar batteries and solar panels, hydrogen typically comes in the form of gas that can also be harnessed and stored for long-term use through fuel cell technology, similar to fuel cell electric vehicle (EV) batteries. “This could be an opportunity for the government to democratise access to energy. By doing so, we could mitigate the risks that could affect fuel prices, like geopolitical crises, which would end up victimising people like us,” Dr Rezal continued. “We want to give the people the ability to generate hydrogen anytime, anywhere and store it for a long time right in your backyard, which you can’t do with fossil fuels,” he added. Having that in mind, NanoMalaysia is working on developing the technology that could achieve just that, known as the electroliser (looks and functions similar to a water filter system) to decentralise hydrogen for personal use. “We’ll first seed the idea of innovation of the hydrogen economy and we’ll bridge industry players with academic researchers to turn the idea into a commercial technology to benefit the people at large at an affordable price. “The government, through us, will provide the catalytical nudge, allowing us to develop prototypes for us to make demonstrations to make the idea/technology investable for the private sector to take up,” Dr Rezal went on. Currently, the hydrogen being widely produced is known as ‘dirty hydrogen’, which is extracted from fossil fuels and emits carbon dioxide (CO2), globally priced at US$1.5 (RM7.15) per kg. He explained that the cleanest version of hydrogen is categorised as ‘turquoise hydrogen’ and can be produced through the process of pyrolysis, which is what Dr Rezal believes Malaysia should be looking into. With further research and development, NanoMalaysia aims to provide turquoise hydrogen at only US$1 (RM4.75) per kg. Through pyrolysis, NanoMalaysia can produce hydrogen without emitting CO2, turning it into a sustainable energy source. “As it is now, the domestic waste being decomposed in landfills and dumping grounds produces biomethane where hydrogen can be extracted from. If we can leverage these sites and turn them into small-scale heavy production centres in various locations, it could cater as a sustainable energy source to the mass public, even in rural areas,” Dr Rezal opined. The Hydrogen Hyper Reactor Another one of NanoMalaysia’s innovations for the hydrogen economy is its patent-pending ‘hyper reactor’, which is hydrogen that has been transformed into a solid state. Dr Rezal revealed that the hyper reactor has already been integrated into many of NanoMalaysia’s transportation prototypes to be used as demonstrations, to successfully commercialise this innovation in Malaysia. “We are working with companies like Prasarana to allow them to plug a hyper reactor ‘battery’ into the testing vehicles to replace their fossil fuel engines. By doing this, we’re hoping to create more demand for this innovation,” Dr Rezal said. He also mentioned that NanoMalaysia will be given 3 Toyota Mirai from BMW Mobility to conduct test runs on the car model for the next 2 years, demonstrating to the public how safe and economically viable hydrogen fuel is. Additionally, the company is also communicating with numerous bus and truck companies to adopt fuel cell EVs (that utilise hydrogen) as early as October this year. When asked about how hydrogen energy will disrupt the EV industry, Dr Rezal commented, “We are not rivalling the EV battery industry – we are supporting it. Our overarching target for EV is to reach 14% of total industry volume by 2030 and 38% by 2040.” However, one of the main concerns that would significantly affect the success rate of hydrogen adoption is the public’s level of acceptance. “There needs to be a gradual wean of processes and how

ESG, News

FENC Uncaps Major Success with Global Sustainable Expansion in Recycled Polyester

/

TAIPEI: Boasting the world’s largest production of food-grade recycled polyester, FENC oversees a seamlessly integrated production and sales system spanning from recycled feedstock to end-product applications. Through FENC’s vast recycling capacity, FENC recycles over 22 billion pieces of post-consumer recycled polyethylene terephthalate (PET) bottles into high-quality sustainable products. The company creates value from waste, repurposing the bottles into food and non-food packaging, hygienic materials, automotive textiles, home furnishings, sports apparel, footwear and more. Partnerships with world-class brand clientele like Coca-Cola, Pepsi, Suntory, Fiji Water, F&N, Asahi, L’Oreal, Unilever, P&G, Nike, adidas, and lululemon are testaments to both the company’s cutting-edge recycling technology and its unwavering commitment to the circular economy. FENC’s footprint in recycled polyester production stretches across Taiwan, Mainland China, Japan, the US, and Southeast Asia. To bolster its leadership and propel the polyester sector towards greener pastures, FENC is actively expanding its capacity for high-value food-grade recycled polyester. Notably, the newly inaugurated Kansai plant in Japan, complementing the existing Kanto facility, is poised to solidify FENC’s dominance in Japan’s recycled polyester market. Furthermore, the imminent launch of Vietnam’s recycling plant in the latter half of 2024 not only contributes to local recycling infrastructure but also advances Vietnam’s circular economy agenda. Meanwhile, in Malaysia, FENC broke ground on an expansion project for its recycled polyester factory in Melaka. Scheduled for production by the end of 2025, this expansion will create a fully integrated upstream-downstream operation with the existing bottle manufacturing plant, thus enhancing value creation along the supply chain. Across the Pacific, FENC’s US plant completed its capacity expansion in the first half of 2024, injecting renewed vitality into the nation’s circular economy. For over three decades, FENC has championed the circular economy. With agile production and sales strategies, it has secured regional supply chain advantages within the recycled polyester sector, fostering sustainable development across the industry landscape. In 2023, FENC earned widespread acclaim for its exemplary Environmental, Social, and Governance (ESG) performance, topping the Minderoo Foundation’s global plastics circularity evaluation, ranking among the top 2.5% in the global chemical industry according to Sustainalytics’ ESG risk ratings, and securing a spot in the top 5 of Taiwanese listed companies in FTSE Russell’s ESG Ratings.

Icon-facebook Icon-instagram-1 Linkedin
  • Sitemap

Copyright © 2024 The Exchange Asia. All rights reserved. Powered by Web Design Malaysia.

Scroll to Top

Subscribe
FREE Newsletter