The National Sustainability Reporting Framework For Malaysia – A Leap Forward

Introduction

On 15 February 2024, the Advisory Committee on Sustainability Reporting chaired by the Securities Commission Malaysia ("SC") issued a consultation paper on the proposed National Sustainability Reporting Framework ("NSRF"). The consultation period closed on 29 March 2024 and on 24 September 2024 the SC launched the National Sustainability Reporting Framework.

One of the issues plaguing the implementation of and reporting on ESG has been the alphabet soup of standards including the Task Force on Climate-Related Financial Disclosures ("TCFD"), the Global Reporting Initiative ("GRI"), the International Sustainability Standards Board ("ISSB"), and the Sustainability Accounting Standards Board ("SASB") stated aim of the NSRF has been to enable stakeholders, especially investors deal with consistent, comparable, and reliable disclosures.