KUALA LUMPUR: The Advisory Committee on Sustainability Reporting (ACSR) will be conducting an online public consultation next month on the use of the sustainability disclosure standards issued by the International Sustainability Standards Board (ISSB) in Malaysia.
The consultation allows for the public to provide views and feedback on critical considerations including implementation approach, timing and assurance of sustainability disclosures in Malaysia.
The online public consultation is scheduled for six weeks.
"While the immediate consideration is for the ISSB Standards to be applicable to listed issuers, we are cognisant that there is also demand for sustainability-related action and information on non-listed issuers."
"As such, we strongly encourage all stakeholders, including preparers, investors sustainability assurance providers, rating agencies and others to share their views, as this will help shape the national sustainability reporting framework," SC Managing Director and Chairman of the ACSR Datuk Kamarudin Hashim, said in a statement.
The ACSR, chaired by the Securities Commission Malaysia (SC) and formed with the endorsement of the ministry of finance, comprises representatives from Bank Negara Malaysia, Bursa Malaysia Bhd, Companies Commission of Malaysia, Audit Oversight Board and Financial Reporting Foundation.
Last year, ACSR met with senior representatives from the International Auditing and Assurance Standards Board (IAASB) to get a better understanding of the proposed assurance standards for sustainability information, which the IAASB has developed and made available for public consultation between August and December 2023.
A robust assurance framework is important to ensure the reliability of the sustainability information disclosed, and to mitigate the risk of greenwashing.