Kuala Lumpur, 2 November 2021: As the 26th United Nations Climate Change Conference of the Parties (UN COP26) climate talks commence in Glasgow, the Institute of Corporate Directors Malaysia (ICDM) and Climate Governance Malaysia (CGM) join the international Climate Governance Initiative (CGI) to call upon board directors in Malaysia and across the world to place climate transition at the heart of corporate strategy and board decision-making.
Michele Kythe Lim, President & CEO of ICDM said, “Developing a community of climate-conscious directors is an integral part of ICDM’s mission to promote governance excellence in Malaysia. Directors today must take deliberate action to broaden their mindset and expand their skill sets to effectively address climate risks. The business community, led by their boards, must learn to co-exist with nature, find a balance between business growth and environmental sustainability, and take on the role as stewards of that balance.”
“Nomination committees, in particular, play a critical role in ensuring their boards have the right competencies and capabilities to effectively embed climate governance practices in strategy, risk management and disclosure processes. With the right mindset and action, boards and directors can help accelerate companies’ transition to net-zero business models whilst staying profitable and resilient, complementing Malaysia’s commitment to becoming a carbon-neutral nation by as early as 2050,” Lim continued.
Datin Seri Sunita Mei-Lin Rajakumar, Founder Chairman of CGM, said, “Climate emergency requires an ‘all of government and whole of society’ approach. In just over two years, Climate Governance Malaysia has been completely focussed on enhancing the discourse between key stakeholders to increase climate ambition. At COP26, governments will commit to targets that will need to be fulfilled by businesses and as long-term stewards, we directors are committed to facilitating a smooth transition, for the collective good. We help businesses understand and address the climate crisis in order to minimise business risks.”
In a statement released by the Climate Governance Initiative, it states that ‘now is a critical time for boards to engage with the impacts of climate change, guide long-term plans and translate these into immediate, practical action. This includes ensuring that their business strategy is resilient in a low-carbon future and the executive team has the skills to deliver it.’
Read the full statement: https://climate-governance.org/cop26-statement/