KUALA LUMPUR: The Securities Commission's newly-launched National Sustainability Reporting Framework (NSRF) will help to enhance transparency and accountability of how businesses manage sustainability risks and opportunities, said Permodalan Nasional Bhd (PNB).
PNB said the NSRF, developed in alignment with the IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB), sets a robust baseline for sustainability disclosures.
President and group chief executive Datuk Abdul Rahman Ahmad said PNB recognises the importance of the framework in fostering transparency and accountability in sustainability reporting.
Abdul Rahman said PNB believes that the NSRF will play a crucial role in driving corporate Malaysia's global competitiveness towards a more sustainable and resilient future.
"Following the launch of the NSRF, PNB will continue to work closely with its investee companies as well as listed companies that it has stakes in to ensure they meet the specified disclosure requirements under the NSRF on a timely basis," he said in a statement today.
Malaysia unveiled the national framework to address investors and financiers' information needs and help with their capital allocation decisions.
The NSRF will also help promote Malaysia's economic prosperity that is aligned with environmental and social responsibility.
Following the launch, Malaysia joins more than 20 jurisdictions, which have decided or are taking steps to use the standards.
Developed through extensive public consultations with various stakeholders, including local and foreign investors, various industry and professional associations, the NSRF meets the growing demand for sustainability information.