ESG: 2022 IN REVIEW
Malaysia Digital Economy Corporation (MDEC)
Leading Malaysia's Digital Economy
ESG: 2022 IN REVIEW
2022 was significant for MDEC, as we started our environmental, social and governance (ESG) journey. It was a highly productive year, thanks to the amazing support from both our internal and external stakeholders. Highlights include:
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An important first step was setting out our ESG Policy to give the context for implementing ESG principles and practices in MDEC. This would strengthen MDEC’s sustainability credentials and enhance our overall value proposition, enabling MDEC to lead by example and drive adoption across the ecosystem.
?Receiving the endorsement of our ESG Policy by the MDEC Board of Directors was an important milestone, demonstrating a positive “tone at the top” to move the dial on ESG adoption.
Stakeholder Engagement and Materiality Assessment Study
The most complex project in 2022 involved undertaking the 3-month independent Stakeholder Engagement and Materiality Assessment (MA) study. Critical to its success was the active participation of key stakeholders, especially in the various consultation exercises.
?The MA study has enabled MDEC to comprehensively analyse the ESG issues most relevant to the organisation and the digital economy ecosystem, according to key stakeholders, and refine them into prioritised focus areas. It has also given MDEC valuable insights into designing the organisation’s ESG Roadmap, targets, and reporting.
?Diversity & Inclusion
?MDEC signed the UN Women's Empowerment Principles, taking a further step in our long-term commitment to promoting diversity and inclusion, including the full development of female talent, in the workplace. Significant strides have already been taken in terms of gender equality in MDEC, where women make up 58% of total employees and 50% of management.
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?Externally, through the #SayaDigital initiative, MDEC is ensuring that no one is left behind in the digital shift. Some 180,000 women and girls participated in 2022, nearly 85% of whom took part in digital adoption and skills programs.?Participants were of all ages, ranging from primary school to adult.
?Malaysia Digital
Through the introduction of Malaysia Digital (MD), MD-status companies are highly encouraged to align their operations to the government’s ESG goals. MDEC is collecting ESG-related data from MD-status companies via the half-yearly MD Industry Survey. This is spurring ESG awareness amongst these companies while providing MDEC with a baseline understanding of their progress against sustainability indicators.?
?The latest MD Industry Survey showed that 53% of respondent MD-status companies are committed to ESG, with a further 19% likely to commit within two years. These companies have made significant strides in terms of gender equality, with women making up 48% of employees. They are also embracing the development of ESG-friendly products and services, which account for 83% of expenditure on R&D and 64% of local sales, rising to 84% of export sales.
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Malaysia Digital Climate Action Pledge (MDCAP)
?MDEC developed MDCAP, in partnership with the UN Global Compact Network Malaysia & Brunei, to inspire digital businesses, especially SMEs, to take practical steps to reduce their carbon footprint.
?Following the announcement at MDW2022, over 60 companies have become signatories, over 85% of whom are SMEs. By far the most popular pledge is to conduct business operations in an environmentally responsible manner, subscribed to by over 70% of companies. Over 65% of signatories are implementing climate-related goals, with 50% interested in becoming industry champions to help advocate for climate action.
?CEO of MDEC, Ts. Mahadhir Aziz said “MDEC is striving to be at the forefront of ESG and sustainability. 2022 was a momentous year for MDEC as we set off on this crucial journey. I am delighted that we have established such a solid foundation on which we can build, thanks to the strong support from our key stakeholders.
?He went on to say “I believe that the most significant contribution MDEC can make is by raising awareness and understanding of sustainability issues across the digital economy and helping companies to take that important first step to commit to ESG. Our journey continues in 2023.”
Sabahan l Equality at Work Advocate I Aspiring Writer & Tech Enthusiast
1 年Welcoming MDEC to the WEPs community - looking forward to more collaboration in driving for Diversity, Equity and Inclusion within the Malaysian Digital Economy. Congratulations on all the hard work so far.
Empowering Connectivity through Innovative Telecommunications Solutions
1 年Well done indeed