JOHOR BARU: Sustainable development was the focus of the inaugural virtual roundtable among Chief Executive Officers (CEO) and other corporate executives who took part in the discussion initiated by the UN Global Compact Network Malaysia & Brunei (UNGCMYB) from here and professional services network PwC Malaysia.
The CEOs virtual roundtable was themed "Using Best Practices for Better Growth" and generated informative discussion among participants.
Critics have often discounted sustainable development as an oxymoron, but Edey Suresh, Johor state director of UNGCMYB said that if economic development is aligned with sustainable strategies, then it becomes scalable and accountable.
"Such development will not degrade the environment, will promote social equity and human rights, and combat corruption," asserted Suresh.
"Our goal was to give the CEOs useful insights that they will need to align sustainability into their business strategy and to pivot them to become a transformative leader who can unite a deep sense of purpose while advancing their business savvy," added Suresh.
The virtual roundtable drew in CEOs and key personnel from various industrial and corporate bodies, such as Bahagian Perancang Ekonomi Negeri Johor (BPEN), Educity Iskandar Malaysia, Invest Johor, Iskandar Regional Development Authority (IRDA), Iskandar Investment Berhad (IIB), Iskandar Halal Park, Kulim (Malaysia) Berhad, Kumpulan Prasarana Rakyat Johor (KPRJ), Marrybrown, Regency Specialist Hospital, Sunway Iskandar and UMLAND Seri Austin.
Elaborating the sustainable strategies that both UNGCMYB and PwC Assurance urged upon participants in the virtual discussion, Manohar Johnson, a PwC Assurance Partner, said: "These should encompass areas such as climate change, sustainable value chains, responsible investment and sustainable finance, with corporate, financial and sustainability reporting being realigned as a result."
Johnson noted that Johor-based companies have grown rapidly over the last several years but were not reaping the benefits of sustainability such as attracting sustainable investors or applying for sustainable linked loans which, he said, are now available at most major banks.
He said the companies should access the resources that UNGCMYB's Johor office was set up specifically to facilitate access to the UNGC Academy.
The tools, network and other expertise offered by the UN Global Compact Academy could assist companies further their sustainability ambitions.
Other speakers such as from OCBC Bank took turns to explain the principles of the 17 Sustainable Development Goals (SDGs) of the UN enunciated in 2015 which have become the focus of the Decade of Action (2020-2030) the global body was intent on achieving in countries subscribing to the goals.
The CEO Roundtable series will be held throughout 2021 by UNGCMYB (Johor Office) amongst the other programmes and engagements planned for Johor corporations, GLCs, SMEs and business chambers.
The United Nations Global Compact has 68 local network offices worldwide, with over 16,000 companies as members.
It calls for companies to align their operations and strategies with ten universal principles in the areas of human rights, labour, environment, and anti-corruption, and to take action in support of UN goals and issues embodied in the (SDGs).
Suresh had taken the initiative to start this roundtable discussion as companies in Johor are on the threshold of a new era when their development must align itself with sustainability goals.
