PETALING JAYA: Bursa Malaysia Securities Bhd has updated its sustainability reporting requirements in the Main Market listing requirements and the ACE Market listing requirements with the aim to elevate sustainability practices and disclosures of listed issuers.
Bursa Malaysia CEO Datuk Muhamad Umar Swift said the scale of the sustainability reporting enhancements that it has introduced today sends a clear signal of Bursa Malaysia’s ambition to be the leading exchange for ESG in the region.
“The high bar that we have now set for all our listed issuers is underpinned by a multi-year, phased implementation approach to ensure a successful rollout. More importantly, by embracing these enhancements, our listed issuers would boost their overall resilience, competitiveness and, in turn, appeal as attractive investments,” he said in a statement.
Main Market listed issuers will now be required to include the following disclosures in their sustainability statements:
> a common set of prescribed sustainability matters and indicators that are deemed material for all listed issuers;
> climate change-related disclosures that are aligned with task force on climate related financial disclosures (TCFD) recommendations;
> at least three financial years’ data for each reported indicator, corresponding targets as well as a summary of such data and corresponding performance target(s) in a prescribed format; and
> a statement on whether the sustainability statement has been reviewed internally by internal auditors or independently assured.
ACE Market listed corporations are also required to disclose a basic plan to transition towards a low carbon economy, with regard to climate change reporting.
The requirements for Main Market will be implemented in a phased manner, beginning with the disclosure of the common sustainability matters for financial year ending Dec 31, 2023 (FY23), and TCFD-aligned disclosures for FY25.
Similarly, the requirement for ACE Market listed corporations will take effect for FY24, concluding with disclosures of the basic transition plan for FY26.
