Net Zero is Risky for Businesses (Malaysia)

Content

Net Zero announcements are being made by large global brands. Did the Board or Senior Management think through the impact from such announcements? Net Zero as an ambition creates a short hype for the company’s reputation. In the long run, compliance cost increases, consistent data transparency and performance monitoring require adequate resources. The emission reduction plan to achieve the Net Zero milestone causes operational level changes.

Companies cannot announce Net Zero and decide to only focus on specifically Scope 2. Net Zero emissions must be validated by international organizations- NPOs. To accelerate to Net Zero, they must also take into consideration their supply chain - Scope 3 stakeholders who must adapt similar strategies are their global customers.

Corporates set up transition plans. As for a financial institution Net Zero means – it has to consider its customers’ loans and debts.

Net Zero goals have caused a cascading effect on compliance, management and operations.

Although banks offer financial assistance to companies for businesses to accelerate emission reduction or transition plans - the company’s transformation stewards Net Zero goals. Although Net Zero stewardship may broaden a bank’s opportunity to offer green loans and a company’s chances of attracting investors, NET ZERO as a result must be achieved as planned. If not this may affect the reputation of the Board and business.

Duration

1 hour (1 non-verifiable CPD unit)

Speaker

Sunita Devi

Sunita is a Certified Sustainability Reporting and Audit Assurance Specialist.  Her expertise lies in technical advisory of gaps related to Sustainability reporting, ESG performance, Net Zero strategy of Public Listed Companies (PLCs). Her keen eye for technical review of impact analysis in ESG investments is in accordance to the reporting and audit principles.  

She is also Certified in Law and Sustainability from Oxford University.    

Her advisory helps Board of Directors and Senior Management to keep their reputation in check and avoid greenwashing in their sustainability journey.  

She has worked with global European companies in navigating best practices in sustainability for their Supply Chain stakeholders worldwide.  

Therefore, her training, webinar, coaching, advisory and consulting services on sustainability analytics, provide holistic approaches for Senior Management to strategically run their organization at the same time drive sustainability and ESG performance.  

Some of the organizations she has worked with include names such as Sunway, YTL, Prudential, Stanchart, OCBC, Starwood, Marriott, Malaysia Airports, Ancom, Swift, Air Selangor, Cenviro, Sabah Port, Hektar, Suria Capital,  just to name a few. 

Since 2008 the Sunita has been writing on Sustainability and working on grant projects in Vietnam, Bhutan and Indonesia.  She holds a Masters Degree in Knowledge Management and is currently concluding a DBA in Sustainable Development.