Kulim wins ACCA M’sia’s Best Sustainability Reporting award|
KUALA LUMPUR: Kulim Malaysia Bhd’s plantation division won the Best Sustainability Report award this year at the annual Association of Chartered Certified Accountants (ACCA) Malaysia Sustainability Reporting Awards (MaSRA) 2010 held here yesterday.
UEM Environment Sdn Bhd, Puncak Niaga Holdings Bhd, Nestlé (Malaysia) Bhd and DiGi Telecommunications Sdn Bhd were also recognised for their reporting on the environmental, social and wider economic impact of their business activities.
“I’m especially pleased for all the Kulim team members who had put in the effort to be where we are in terms of sustainability initiative. But the real winner is the environment if these awards will raise the corporate consciousness on the fragility of the environmental balance,” said Kulim Malaysia’s managing director Ahamad Mohamad in an email interview yesterday.
“Winning the award will bring us under closer scrutiny, which will have us get better faster.”
Currently in its fourth year, MaSRA aims to identify and reward innovative attempts at communication corporate sustainability performance and also to reward transparency. A total of 53 reports were nominated for ACCA MaSRA 2010, of which 20 were shortlisted for selection of awards.
ACCA Malaysia country head Jennifer Lopez said Kulim Malaysia’s report was innovative and communicated corporate performance in an engaging and transparent way — which fulfilled the judging criteria of completeness, credibility and communication.
Ahamad said Kulim Malaysia had published its sustainability targets in the 2008 report and “quantified the progress of reaching those targets” in the 2009 report, which was then verified by a third party.
“The sustainability programme has resulted in us being on the same page with our stakeholders, especially our internal stakeholders. They understand what we want to do and what we expect of them. We have also shown that we are willing to listen and to change based on their feedback. This has resulted in a high percentage of buy-in of our objectives. The consequence is that we work together toward shared objectives,” he said.
Ahamad said moving forward, credibility continues to be a key issue for the company and an area where Kulim “could do more”.
Asked whether there were efforts to expand the sustainability reporting to other divisions, Ahamad said the company was currently in discussion with Kulim’s quick service restaurant division on doing a baseline survey on sustainability.
Last year, Kulim Malaysia’s plantation division won “Best First Time Reporter” and received a commendation for “Reporting on Strategy and Governance”. Kulim Malaysia received a commendation for “Reporting on Strategy and Governance” again this year.
The overall winner last year, UEM Environment, emerged runner-up this year while DiGi won “Best First Time Reporter” and a commendation for “Reporting on Stakeholder Engagement and Inclusion”. Puncak Niaga Holdings Bhd won “Integrated Reporting in an Annual Report” for the second year running while Nestlé (Malaysia) Bhd received a commendation for “Reporting on Stakeholder Engagement and Inclusion”.
Speaking at the awards ceremony, ACCA Malaysia advisory committee president Datuk Mohd Nasir Ahmad said Malaysia is leading in sustainability reporting in Asean, with the highest number of reporters — 49 companies producing 97 sustainability reports in the past eight years.
“In Malaysia, ACCA is endeavouring to disseminate the message that accurate and meaningful reporting can help optimise business performance as it helps companies identify and manage risks, survive and thrive,” said Nasir, who is also CEO of Perbadanan Usahawan Nasional Bhd (PUNB).
According to ACCA Global president Mark Gold, rewarding corporate openness and transparency would enable behavioural change and push sustainability up the corporate agenda.
He added that long-term business success — sustainability performance and profit — could only be considered in the broader sustainability context; by reducing the effects of business activity on the environment and conducting socially responsible businesses.
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