KUALA LUMPUR (Sept 26): Bursa Malaysia Securities Bhd has enhanced sustainability reporting requirements in the listing requirements on the Main Market and ACE Market to elevate the sustainability practices and disclosures of listed issuers.

In a statement on Monday (Sept 26), the exchange holding company said this will propel listed issuers to adopt international best practices, as there have been recent significant developments in the sustainability landscape, particularly on the climate change front.

Bursa said listed issuers on the main market will need to include in their annual reports, common sustainability matters and indicators, as well as climate change-related disclosures aligned with the recommendations of the task force on climate-related financial disclosures (TCFD).

Issuers are also required to disclose enhanced quantitative information on its sustainability targets such as a minimum of three financial years’ data for each reported indicator, Bursa said.

Besides that, Bursa added that there must be a statement of assurance on whether the company’s sustainability statement has been reviewed internally by internal auditors or independently assured.

As for ACE Market-listed corporations, Bursa said sustainability reporting requirements have also been strengthened to align with those of the main market, with an additional condition to disclose a basic plan to transition towards a low carbon economy.

Bursa said the above criteria will facilitate ACE Market companies to consider climate change-related risks and opportunities, and also take into account their maturity in the climate change space.

“The scale of the sustainability reporting enhancements that we have introduced today sends a clear and unequivocal signal of Bursa Malaysia’s ambition to be the leading exchange for ESG (environmental, social and corporate governance) in the region,” said its chief executive officer Datuk Muhamad Umar Swift.

“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 roll-out. More importantly, by embracing these enhancements, our listed issuers would boost their overall resilience, competitiveness, and in turn, appeal as attractive investments,” he said.