LAST week, I attended the Climate Change Forum organised by the Centre for Development, Technology and Environment (CETDEM) themed “The Role of Businesses and Industries in Addressing Climate Change”.
CETDEM chairman Gurmit Singh lamented the fact that although invitations were sent to conglomerates and multi-national companies to present their climate change initiatives, none of them took up the offer.
The deafening silence is pathetic, especially companies that are heavily polluting the environment such as in the transport and energy sectors.
Most companies see climate change initiatives from a narrow corporate social responsibility perspective. Hence we can count the number of companies with a climate change blueprint or a full-fledged climate change division manned by full-time officers.
To be fair, some companies such as Malaysia Airlines are doing something. The airline encourages its customers to participate in a carbon-offsetting programme.
Passengers on a specific flight pay for the emissions discharged and the money goes towards supporting projects that reduce greenhouse gases.
Even Bursa Malaysia’s intervention is not strong enough to influence companies to take the low-emission green path.
All companies are encouraged to disclose information on climate change initiatives in their annual reports, but how many are doing so?
In our transition to a low-carbon economy, companies, (apart from the government) must play their part.
It is time they walk the talk by taking concrete action instead of waiting for laws to be enacted for them to do so.
Until companies consider climate change initiatives as an integral part of their risk and management processes, it is unlikely that the country will make noteworthy progress in tackling environmental degradation due to climate change.
Michael E. Porter puts it aptly: “While many companies may still think of global warming as a corporate social responsibility issue, business leaders need to approach it in the same hard-headed manner as any other strategic threat or opportunity.”
POLA SINGH
Kuala Lumpur