Accelerating Sustainability: MIDA Unveils DIAF-ESG for Malaysian Businesses
Malaysia’s Investment Development Authority (MIDA) has taken a significant step in promoting sustainable business practices with the launch of the Domestic Investment Accelerator Fund (DIAF) – ESG Adoption. This initiative marks a concerted effort to support local businesses, particularly Small and Medium Enterprises (SMEs) and Mid-Tier Companies (MTCs) from the manufacturing and selected services sectors, in embracing Environmental, Social, and Governance (ESG) principles.
Launched on 24 April 2024, at MIDA Sentral, the DIAF-ESG program aims to incentivize Malaysian enterprises to integrate ESG considerations into their operations. By providing financial support, MIDA hopes to facilitate the transition towards ESG and sustainable practices for long-term business growth and resilience.
Genashtim’s ESG Services Manager, Tan Ee Beng was invited to give a presentation at the DIAF-ESG launch event. Ee Beng engaged the audience through a compelling presentation emphasizing the strategic importance of ESG in enhancing competitiveness and attracting investment. He expertly highlighted the tangible benefits that ESG practices offer.
Joining Ee Beng were industry leaders such as Mr. Kevin Shawn Fernandez from Alliance Bank Malaysia Berhad, Mr. Masaaki Hamada of Asuene APAC Pte Ltd, and Mr. Syed Kamal Muzaffa, Director of the Sustainability Division at MIDA. Together, they provided insights into the transformative potential of ESG adoption for Malaysian enterprises.
The event drew a diverse audience comprising over 100 participants eager to explore the practical implications of ESG integration. Attendees expressed their keen interest in understanding how ESG practices can be effectively incorporated into their business models. In response to this demand, Genashtim set up an information booth, where visitors were assisted by a team comprising Ms. Maszuin Kamaruddin, Manager of the QA department, Mr. Mactayren Jupiter, Manager of the Marketing department, and Ms. Mazrina Mahat, an Independent Verification Analyst from ESG Services. They provided detailed guidance to attendees on navigating the ESG landscape, including insights into certification processes such as the BIA and B Corp Certification.
This event underscored Malaysia’s commitment to sustainable development and responsible business practices. Moreover, Genashtim remains unwavering in its resolve to champion initiatives that exemplify its dedication to harnessing business as a force for good.