KUALA LUMPUR: Bursa Malaysia and the London Stock Exchange Group will roll out a centralised sustainability reporting platform next month to help companies calculate their carbon emissions impact.
Prime Minister Datuk Seri Anwar Ibrahim said the platform would enable listed companies as well as non-listed small and medium enterprises (SMEs) to calculate their carbon emissions impact.
"It will also help the companies to disclose standardised common environmental, social and governance (ESG) data in a way that conforms to established global standards.
"This platform has the potential to become a key enabler to Malaysia's pivot to green and support our sustainable development while creating high-skilled jobs for our progress towards a high-income nation," Anwar said at Invest Malaysia 2023 conference here today.
Malaysia, he said, was taking a leadership role in the low carbon journey by bringing a platform to help companies measure, monitor and drive reduction in carbon.
With the growing need for companies to scale their businesses, he said the Securities Commission, together with Bursa Malaysia, would introduce the LEAP Market Transfer Framework for companies to migrate from the LEAP Market to the ACE Market.
Bursa will also introduce a new Recognised Approved Adviser Framework that will expand the pool of advisers for the ACE Market.
Meanwhile, Anwar said the government looked forward to growing into a position that can optimise the Voluntary Carbon Market operated by Bursa.
Launched in December last year, the Bursa Carbon Exchange or BCX, is a vital catalyst in the acceleration towards a net-zero future.
Notably, it is the first exchange in the world to receive a Shariah pronouncement for its Carbon Exchange.
Anwar said efforts are also underway to improve the government's advisory services for local companies and entrepreneurs in their efforts in creating and exploiting IP.
"I understand there are parties who are concerned with respect to the government's announcement to study Capital Gains Tax on unlisted shares at a low rate.
"The government would ensure that tax will only be finalised upon extensive engagement with stakeholders, and will not be introduced on listed shares, while the disposal of unlisted shares for an approved initial public offering will also not be subject to the Capital Gains Tax," he said.
Bursa chairman Tan Sri Abdul Wahid Omar said the 2023 Budget was positive to the capital markets.
Abdul Wahid said apart from the absence of prosperity tax, the budget encouraged listings via the tax exemption extension of up to RM1.5 million for listing expenses on Bursa Malaysia's ACE and LEAP markets.
"This exemption also applies to technology companies seeking a Main Market listing until assessment year 2025.
"Separately, the plans for dual-class shares will help attract high-growth technology companies, while the proposed capital gains tax for disposal of shares in unlisted companies by 2024 will also help encourage listing activity.
"These measures will certainly help us achieve our target of 39 new listings for 2023 compared to the 35 listings in 2022," he added.
