Malaysia’s Advisory Committee on Sustainability Reporting (ACSR), under the Securities Commission Malaysia, has launched a public consultation on a proposed framework for sustainability assurance to enhance the credibility and reliability of corporate sustainability disclosures.
The framework is intended to support the implementation of the National Sustainability Reporting Framework (NSRF), which mandates sustainability reporting for large companies and listed issuers in phases starting in 2025.
The proposed framework outlines key elements including the adoption of international sustainability assurance standards, oversight mechanisms for assurance providers, competency benchmarks for assurance leaders, and implementation timelines.
The initiative targets listed companies on the Main Market with a market capitalization of RM2 billion and above from 2025, with other listed and large non-listed firms following in subsequent years.
The move aims to strengthen assurance practices to prevent greenwashing and increase investor trust in sustainability-related disclosures.
The ACSR emphasized the importance of gathering input from a wide range of stakeholders, including corporates, auditors, investors, and regulators, to ensure the framework is practical, transparent, and aligned with global standards.
The consultation period runs from June 25 to August 6, 2025. The consultation paper is accessible via the Securities Commission Malaysia’s website.
The proposed framework is part of broader efforts to position Malaysia’s capital market as a regional leader in sustainable finance and to ensure companies are held to consistent, verifiable reporting standards amid growing regulatory and investor scrutiny.
Business News Asia