Sustainability Representation on Boards in Southeast Asia: Leading by Example
In the evolving landscape of corporate governance, sustainability has taken center stage. Southeast Asia is emerging as a pivotal player, with companies increasingly integrating sustainability into their core strategies. Here's a breakdown of how countries in this vibrant region are setting the benchmark:
Singapore:
Singapore leads the region with 68% of its top 100 listed companies having at least one board member dedicated to sustainability. This reflects the city-state's robust regulatory framework and commitment to sustainable growth. [Source: KPMG Singapore]
Malaysia:
Malaysia follows closely with 60% of its top 100 companies incorporating sustainability at the board level. The Malaysian Code on Corporate Governance (MCCG) 2021 has been instrumental in driving this change. [Source: Bursa Malaysia]
Thailand:
Thailand boasts a 55% representation, spurred by the Securities and Exchange Commission's (SEC) guidelines on ESG (Environmental, Social, Governance) disclosure. [Source: SEC Thailand]
Philippines:
The Philippines has seen a significant uptick, with 50% of its leading firms appointing sustainability officers on their boards, thanks to initiatives by the Philippine Stock Exchange. [Source: Philippine Stock Exchange]
Indonesia: Indonesia shows a promising 48%, driven by the Financial Services Authority's (OJK) regulations on sustainability reporting. [Source: OJK Indonesia]
Vietnam:
Vietnam is catching up rapidly, with 45% of top companies recognizing the importance of sustainability at the board level, influenced by the Ho Chi Minh Stock Exchange’s (HOSE) guidelines. [Source: HOSE]
The momentum is clear, Southeast Asian countries are not just participants but growing leaders in the global sustainability movement. Their efforts are a testament to the region’s commitment to a sustainable future.Let's continue to support and champion these initiatives as we move towards a greener and more equitable world.
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