BFM Podcast Features Tan Ee Beng, Genashtim’s ESG Services Manager
Tan Ee Beng was recently featured on BFM’s “B Corp: Beyond Green Marketing” podcast, shedding light on the pivotal role of ESG as a catalyst for responsible business through B Corp certification. Hosted by Shazana Mokhtar, the podcast delved into ESG and B Corp initiatives spearheaded by Genashtim in the Southeast Asian region.
The conversation began with Ee Beng outlining Genashtim’s operational background, founding purpose, initial services, business development, and the company’s subsequent venture into ESG. He proceeded to explain the ESG assessment procedures, including guidelines, index ratings, and certification. Unlike the various methods used, he underscored the distinctive nature of B Lab, the certifying organization, which stands out by comprehensively evaluating a company with inputs from diverse stakeholders shaping the certification process. In navigating the certification aspects and standards within the ESG landscape, Ee Beng accentuated B Corp’s unique attributes, particularly its extensive coverage across governance, workers, community, environment, and supply chain.
In response to Shazana’s inquiry about Genashtim becoming the B Lab representative for Southeast Asia excluding Singapore, Ee Beng highlighted the company’s consistent involvement with ESG, leading to its role as the B Market Builder. This journey began in Singapore and Malaysia and subsequently expanded to encompass Southeast Asia. When discussing trends among companies seeking B Corp certification, he noted an initial focus on small and medium enterprises (SMEs) and observed a current trend of larger organizations joining the movement. Ee Beng then provided detailed insights into the certification process, describing the social and environmental questionnaire, B Impact Assessment (BIA), and disclosure questionnaire. He also explained the role of the independent verification analysts in the review process and acknowledged the variable duration for certification, citing an average of six months, dependent on a company’s size and capacity.
Delving into the potential barriers to B Corp certification, Ee Beng emphasized its non-obligatory nature. Companies that value purpose in business, however, are more likely to embark on the rigorous assessment process and associated costs. He pointed out the challenge of increasing ESG awareness within the Malaysian business landscape and customer base. Addressing concerns about greenwashing and B Corp’s credibility, he acknowledged that while B Corp is not infallible, its meticulously designed assessment process serves as a deterrent to greenwashing. Ee Beng asserted that B Corp continually reinvents itself by incorporating the latest standards and regulations into the BIA framework and expressed his confidence that companies engaging in greenwashing would be exposed over time.
Genashtim extends its gratitude to BFM for providing a platform to promote ESG and B Corp awareness. As we encourage businesses in Southeast Asia to undergo the B Corp certification assessment, we aim to advance our social mission alongside the evolving ESG best practices and B Corp requirements.
Listen to the podcast here.