What does sustainability mean to you?

It's been quite some time since I've indulged in the art of articulating my thoughts through the medium of writing. Yet, whenever I do, there's an undeniable sense of fulfillment - an acknowledgment that writing serves as a pathway for me to take a deep breath, pause, reflect on my feelings and emotions, and then move forward in life. Much like the bustling urban landscape that surrounds many of us, dominated by towering concrete structures, bustling traffic, and diverse array of eateries, interspersed with pockets of greenery and pedestrian-friendly lanes, writing enables me to navigate and articulate my experiences within this dynamic environment.

For me, writing serves as a means to encapsulate the emotions stirred by my observations of the world around me. It saddens me deeply to witness the struggles of underprivileged Malaysians striving to navigate the relentless tide of inflation. I'm sure many of you can relate to this sentiment: despite experiencing an 35% increase in gross income, the tangible impact remains elusive. The harsh reality persists – the relentless surge in living expenses, estimated at approximately 40% to 50% increase, continues to gnaw away at our quality of life.

For Malaysians going out after work or on weekends, it's hard to miss the sight of more foreigners indulging in shopping compared to our own compatriots. The persistent depreciation of our currency only exacerbates the rising cost of goods and services. Conversely, foreigners, particularly those from neighbouring countries like Singapore, find Malaysia an enticing destination due to its comparatively lower prices, offering them a welcome respite from the high expenses back home.

While ESG (Environmental, Social, and Governance) principles have become common topics among the government and corporations, they often fail to resonate with many small and medium-sized enterprises (SMEs) in Malaysia. As of 2023, the country boasted approximately 1.15 million SMEs, comprising over 97 percent of the nation's businesses and contributing a substantial 38.2 percent to the GDP. Despite their significant economic footprint, the integration of ESG practices remains a challenge for many of these enterprises.

The challenges faced by SMEs mirror those of the majority of ordinary Malaysians, with over 80% falling into the middle (M40) or low-income (B40) categories. You might question the comparison between enterprises and individuals, but the truth is intertwined: when our people struggle, the nation's progress becomes stunted, hindering our ability to move forward at the desired pace.

While the "E" for Environmental aspect is crucial for Malaysia's transition away from fossil fuels, we mustn't overlook the significance of the remaining two elements: "S" for Social and "G" for Governance. Unfortunately, companies often neglect "S" and "G," assuming that prioritising environmental concerns alone will mitigate the severity of climate change.

However, this assumption is flawed. Without a focus on our people (our workforce), we cannot drive economic growth for the nation, nor can we foster growth within the companies we serve. Additionally, neglecting social aspects means we miss out on opportunities to develop and upskill ourselves through meaningful work, thereby denying us avenues for both personal and professional growth. Thus, a holistic approach that encompasses all three elements—Environmental, Social, and Governance—is imperative for sustainable progress.

While some companies may find implementing ESG practices costly in the short term, a holistic approach is essential for the long-term prosperity of our people, community, and society. Structural reforms, undertaken gradually, pave the way for future growth and sustainable development.

Disclaimer: The views expressed in this article are solely based on my observations and personal perspective.