Page 54 - Berita Sunway - Issue 74

ESG TO about doing the right things the right way. It is reflected in its business accountability will continue to grow, which is necessary and needed if we
Sustainability

For the Group, the motivation is inherent and deep-rooted. It is
Where governance is concerned, the demand for transparency and
are to do well and do so responsibly. It is a matter of integrity and
philosophy and its core values of Integrity, Humility and Excellence.

trustworthiness.
e Group could wholeheartedly embrace and adopt the ESG
Hence, the challenges in ESG are not something new to the Group

compliance framework because it is very much in line with its aspirations
FORE
environment and circumstances. It is to avoid being caught off guard and
Of course, there are external and internal challenges, but the Group

THE and goal of making the world a better place for future generations. because they are about staying alert and relevant to the ever-changing
continues to reinvent itself to adapt with agility and prepare well for them.
unprepared.
ere are many ways to prepare ourselves for such risks. It may mean

3. What are the challenges faced by the Group in implementing ESG?
some diversification, venturing into new businesses and doing things
e Group will be celebrating its 50th anniversary in 2024. It has

differently. To be well prepared for all possible eventualities is probably
grown from strength to strength and has weathered through a few storms,
the essence of what sustainability and survival mean.
such as the financial crisis in the mid ‘80s and late ‘90s. Its integrity
As we see it, when rating agencies give a company a three-star rating

played a critical role in manoeuvring through the crises as stakeholders
particular company is well ‘boarded up’ and well prepared for the ESG
most difficult times.
‘storm’. And so, just like a credit rating, it is sending the message that the
50 years is not a short period of time and it is already, to some extent,

company is therefore ‘safe’ and secure for investments.
a testament to the Group’s sustainability strategy, its level of preparedness
ESG – environmental, social and governance criteria that is used to evaluate and investors continued to place their trust in the Group even during the for ESG compliance, the message they are sending to investors is that this
To further illustrate the point on being well prepared for all

Ong Pang Yen how companies are performing in terms of sustainability – has been gaining in the face of an ever-changing business environment, and its abilities to eventualities, the Group is heavily involved in the hospitality and leisure
outrival many of its competitors and be among the top in the industries
Sunway Group executive traction globally since the pandemic, as investors look for sustainable in which the group operates. sectors, both are worst hit by the pandemic. And yet, as a Group, it is able
director of the chairman's office business models that can better withstand unprecedented market risks. to weather the pandemic storm well and was able to fulfil its commitment
One of the key success factors to ‘survival’, which is perhaps another
term to aptly describe what ‘sustainability’ actually means, is Sunway’s to paying dividends to its shareholders. at should speak volumes of its
With sustainability at the heart of its business since its founding in ESG is not an ‘end’ in itself. It would be a mistake to pursue ESG in preparedness and agility as well as the ability to change and adapt. sustainability strategy.
1974, Sunway Group has adopted the ESG compliance framework to that manner and miss out on the SDGs. e tools can and may change, ere will always be economic cycles, new business models and 4. Are all Sunway’s stakeholders aligned and supportive of the
deepen its commitment towards advancing the 17 United Nations but the goals remain. circumstances that may be ‘disruptive’. Corporations will do well if they Group’s commitment to ESG compliance?
Sustainable Development Goals (UNSDGs). Today, ESG is more of a regulatory instrument, to raise awareness are alert so as to remain relevant throughout these shifting paradigms and Most certainly. From the Board to the management and employees,
Sunway Group executive director of the chairman’s office Mr Ong and to promote compliance by corporations for a very good reason, i.e. be well prepared for them. ere is no room for complacency. the Group is very much aligned across all levels. e pursuit of the
Pang Yen shares with Berita Sunway about the payoffs of being a pushing corporate citizens towards collectively achieving the SDGs in a If we look to the horizons at this juncture, there are clear signs that a sustainability agenda is in the DNA of Sunway. It has been inculcated
sustainable company, the challenges of implementing ESG and how the corporate language that all can understand- compliance. ‘storm’ is brewing, from climate change to the demand for a more into the culture and the value system of the Group. It is the right thing to
company aligns ESG issues to the UNSDGs. 2. e need to be ESG compliant is gaining traction around the equitable and just society and respect for human rights; as well as the do and we will continue to do well by doing good.
1. Sunway aims to be Asia’s model corporation for sustainable world. Sunway has seen remarkable progress in this regard. What demand for more transparency and accountability in the way businesses If we can see ESG as a ‘survival’ tool to help corporations plan and
development. It is committed to advancing the UN-SDGs as well as motivates Sunway in this pursuit and what are the challenges? are being conducted. ese are the very issues pertaining to Environment, prepare well for what is to unfold in the near future, to manage the related
being ESG compliant. How does the group align all its aspirations Sunway adopted the ESG compliance framework with much ease Social and Governance, and that is what ESG is all about. risks exposure well, then there is no doubt that we should all embrace and
and commitments into perspective? because in terms of its own (corporate) goals and vision, they are already When we take a closer look at the ESG disclosure framework, rating adopt this tool wholeheartedly.
e 2030 agenda for sustainable development, commonly known as very much aligned with the UN-SDGs right from its inception. agencies such as FTSE4Good have provided a comprehensive list of what Sunway’s embrace of the ESG and sustainability agenda is not
the 17 UN-SDGs, was adopted by all United Nations member states Sunway Group founder and chairman is frequently quoted as saying the material issues are. And they rank these issues in terms of degree of dependent or driven by external regulatory factors, or merely for the want
in 2015. “we can do well by doing good”. at we should not be involved in risk exposure that the industry would be facing if the issues are not of ‘enticing’ or ‘pleasing’ the fund managers per se.
e 17 Sustainable Development Goals (SDGs) represent an urgent businesses that harm society. at we must take good care of Mother properly addressed. ere will be consequences affecting the bottom line It is driven internally by a strong and deep conviction to keep doing
call for action by all countries - developed and developing alike - in a global Nature, our planet and make the world a better place for our future if the risk materialised and companies are not well prepared for it. the right things the right way. To be constantly on the alert, learning
partnership. generations. ese corporate values and culture are deeply inculcated in On the social front, we have seen instances where goods are seized by from our partners and other experts in the field including the UN
ey recognise that ending poverty and other deprivations must go the DNA of the brand from the very beginning, and it is not just lip customs when companies producing those goods are found to be abusing Sustainable Development Network and the Jeffrey Sachs Center that we
hand-in-hand with strategies that improve health and education, reduce service; the Group and the chairman talk the talk and walk the walk. human rights in the treatment of their workers. Operations are suspended are hosting here in Sunway University and Sunway City Kuala Lumpur.
inequality, and spur economic growth – all while tackling climate change Its flagship development in Sunway City Kuala Lumpur is widely if they do not comply with the provision of basic facilities and amenities rough strategic partnership, we can all do better by combining our
and working to preserve our oceans and forests. acclaimed as a wasteland-turned-wonderland success story. It is a sterling in their workers’ quarters in contravention to legislation. strengths. And this is what SDG 17 is all about.
ese are universal values and goals that all nations should strive to example of how a lifeless tin-mine was rehabilitated and rejuvenated into Similarly, climate change will result in more and more inclement ere is probably no better way to end this conversation by quoting
pursue and achieve to make the world a better place for all. a bustling and thriving integrated township. Instead of more weather conditions, torrential rains, flash floods, strong winds, extreme the founder and chairman of Sunway Group, Tan Sri Dr. Jeffrey Cheah:
To achieve these goals, however, we will need to put in place the deforestation for urban expansion, a piece of wasteland was rehabilitated heat and so on. ese will have an impact on the way business are being “Advancing the SDGs is not the sole responsibility of the
necessary mechanisms and have the right tools. and its ecosystem as well as flora and fauna restored. e city itself has done. ere are transitional risks as well to consider, as governments may governments alone. It requires the commitment of all sectors of society –
At Sunway, we see the ESG measurements and compliance won a host of awards and recognitions under its belt including Malaysia’s start imposing carbon tax to better dissuade and manage excessive the private sector, academia, civil society and every individual. We are all
framework as one of the more effective tools and as a “means to an end”, first Green Integrated township, Low Carbon city and Smart Sustainable greenhouse gas emission. It can impact the bottom line. In other words, it in this together.”
which is the UN-SDGs. Development and many more. Today, it stands proud as a ‘living can no longer be business as usual.
laboratory’ with three research-intensive, and internationally recognised
universities.

52