KUCHING: Bursa Malaysia Securities Berhad (Bursa Malaysia) is seeking public feedback on the proposed sustainability reporting enhancements to the Main and ACE Market Listing Requirements (LR) following the launch of National Sustainability Reporting Framework (NSRF) on Tuesday.
In a statement, it explained that the NSRF was developed to, among others, address the use of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, specifically the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 Climate-related Disclosures (ISSB Standards), as the baseline sustainability disclosure standards for companies in Malaysia.
In line with this, Bursa Malaysia proposes to require a listed issuer to prepare its sustainability statement in accordance with the ISSB Standards, complemented by relevant existing disclosures in the sustainability reporting framework introduced in September 2022.
“The adoption of the ISSB Standards will be implemented in phases, complemented by appropriate relief measures to facilitate and ease compliance by listed issuers,” it said.
Following this, Bursa Malaysia is also seeking feedback on two other areas of review to the LR which relate to the mode of general meetings and the publication of the initial public offering advisor’s name in a listed issuer’s public documents for a specified period.
“The proposed amendments above are part of our ongoing commitment to ensure that listed issuers embrace the rapidly evolving sustainability practices globally, and that the LR remains fit for purpose in serving the changing needs of investors and stakeholders.”
Further details on the consultation paper and the proposed amendments to the LR are available at https://www.bursamalaysia.com/regulation/public_consultation.
