SERDANG, July 14 — Deputy Minister Datuk Seri Fadillah Yusof has urged plantation companies to develop their sustainability frameworks to support commitments to the country’s environmental, social and governance (ESG) agenda.
Fadillah, who is also energy transition and water transformation (Petra) minister, said all organisations in the country, particularly government-linked companies and government-related investment companies, should commit to developing this framework.
This is in line with the 12th Malaysia Plan (12MP), which aims to achieve net-zero greenhouse gas (GHG) emission by 2050.
“This is to ensure a secure future for our next generations, the continued prosperity of the nation, a sustainable economy, and that there is social well-being,” he said in his speech after launching the FGV Sustainability Framework here today.
Fadillah said plantation sector companies need to see how they can contribute to the national economy and help develop the circular economy.
“In the energy sector, our commitment is that by 2044, there will be no more coal-generated power. We will not supply energy using fossil fuels or sources from coal. Therefore, we need to seek new sources.
“The new energy sources that can currently be identified are hydropower — hydrogen is still in the trial phase — and certainly, biomass and biogas. This is what we should focus on developing so that it can become an energy source,” he said.
Fadillah suggested that a cooperation network between Petra and the Plantation and Commodities Ministry, along with its agencies, be established to explore how they can expand existing opportunities.
“If successful, we can develop all opportunities to build a circular economy within the economic supply chain in the plantation sector,” he said.
FGV Holdings Bhd today launched its enhanced Sustainability Framework, thus taking a step towards its ongoing commitment to the ESG agenda.
FGV Group chief executive officer Datuk Nazrul Mansor said this renewal includes identifying specific focus areas under each core based on current ESG trends.
“Overall, the FGV Sustainability Framework encompasses five main pillars: economic growth, governance, social, environmental, and innovation and technology.
“These five pillars reflect the holistic approach taken by FGV in addressing and unravelling sustainability issues,” he said.
The FGV Sustainability Framework is not just a document; it serves as a guide for FGV in making operational decisions, from product development, sourcing, daily operations, and so on, said Nazrul.
— Bernama
